Franklin Resources Inc. Has $3.80 Million Stock Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Franklin Resources Inc. boosted its stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 21.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,552 shares of the financial services provider's stock after acquiring an additional 7,645 shares during the period. Franklin Resources Inc.'s holdings in East West Bancorp were worth $3,800,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in East West Bancorp in the third quarter worth about $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of East West Bancorp in the 3rd quarter valued at approximately $26,000. UMB Bank n.a. raised its position in shares of East West Bancorp by 362.8% during the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 283 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in East West Bancorp during the second quarter valued at $30,000. Finally, American Capital Advisory LLC bought a new position in shares of East West Bancorp in the 2nd quarter worth about $31,000. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp Price Performance

EWBC stock traded up $0.35 during trading hours on Wednesday, hitting $96.65. 348,024 shares of the stock traded hands, compared to its average volume of 932,657. The stock has a 50-day simple moving average of $101.50 and a 200 day simple moving average of $87.05. The company has a market cap of $13.40 billion, a P/E ratio of 12.20, a P/E/G ratio of 3.05 and a beta of 1.28. East West Bancorp, Inc. has a one year low of $67.27 and a one year high of $113.95. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.03. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $641.80 million. During the same quarter in the previous year, the company posted $2.02 EPS. Equities analysts forecast that East West Bancorp, Inc. will post 8.39 earnings per share for the current year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Monday, November 4th. East West Bancorp's dividend payout ratio is presently 27.78%.

Analyst Ratings Changes

Several research firms recently weighed in on EWBC. Compass Point increased their price objective on shares of East West Bancorp from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Citigroup raised their price target on East West Bancorp from $103.00 to $109.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Piper Sandler upped their price objective on East West Bancorp from $87.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. DA Davidson raised their target price on East West Bancorp from $100.00 to $107.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company increased their price objective on shares of East West Bancorp from $105.00 to $120.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, East West Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $109.77.

Insider Buying and Selling

In related news, Director Molly Campbell sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $98.65, for a total transaction of $147,975.00. Following the transaction, the director now directly owns 10,639 shares of the company's stock, valued at approximately $1,049,537.35. The trade was a 12.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rudolph Estrada sold 469 shares of the business's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $98.04, for a total transaction of $45,980.76. Following the transaction, the director now owns 17,750 shares in the company, valued at approximately $1,740,210. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,969 shares of company stock worth $2,458,276 in the last three months. 1.04% of the stock is currently owned by 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.