East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by Citigroup Inc.

Citigroup Inc. cut its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 7.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,560 shares of the financial services provider's stock after selling 9,615 shares during the quarter. Citigroup Inc. owned approximately 0.09% of East West Bancorp worth $10,472,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Capital Performance Advisors LLP bought a new stake in East West Bancorp in the 3rd quarter valued at $25,000. Cullen Frost Bankers Inc. bought a new stake in shares of East West Bancorp in the second quarter worth about $30,000. UMB Bank n.a. lifted its position in shares of East West Bancorp by 362.8% in the third quarter. UMB Bank n.a. now owns 361 shares of the financial services provider's stock worth $30,000 after buying an additional 283 shares in the last quarter. American Capital Advisory LLC purchased a new position in East West Bancorp during the 2nd quarter valued at approximately $31,000. Finally, Signaturefd LLC increased its stake in East West Bancorp by 490.1% in the 2nd quarter. Signaturefd LLC now owns 537 shares of the financial services provider's stock worth $39,000 after acquiring an additional 446 shares during the last quarter. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Compass Point increased their target price on East West Bancorp from $93.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Stephens boosted their target price on shares of East West Bancorp from $91.00 to $104.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Piper Sandler increased their price target on shares of East West Bancorp from $87.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Citigroup lifted their price target on East West Bancorp from $103.00 to $109.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, Truist Financial upped their price objective on East West Bancorp from $93.00 to $101.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, East West Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $102.25.

East West Bancorp Trading Down 0.3 %

East West Bancorp stock traded down $0.37 during mid-day trading on Friday, hitting $109.68. The company's stock had a trading volume of 309,404 shares, compared to its average volume of 925,388. East West Bancorp, Inc. has a one year low of $61.87 and a one year high of $113.95. The stock has a market cap of $15.20 billion, a PE ratio of 13.85, a P/E/G ratio of 3.19 and a beta of 1.27. The company has a 50 day moving average of $95.26 and a 200-day moving average of $83.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $641.80 million. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. During the same quarter last year, the firm posted $2.02 EPS. On average, research analysts anticipate that East West Bancorp, Inc. will post 8.38 EPS for the current year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a $0.55 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.01%. East West Bancorp's payout ratio is 27.78%.

Insider Buying and Selling

In other news, Director Molly Campbell sold 1,500 shares of the business's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $98.65, for a total value of $147,975.00. Following the completion of the sale, the director now owns 10,639 shares in the company, valued at approximately $1,049,537.35. The trade was a 12.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Irene H. Oh sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $98.50, for a total transaction of $985,000.00. Following the transaction, the insider now owns 117,193 shares in the company, valued at approximately $11,543,510.50. This represents a 7.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,969 shares of company stock valued at $2,458,276 over the last quarter. 1.04% of the stock is owned by corporate insiders.

East West Bancorp Company Profile

East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.