Edgestream Partners L.P. Sells 18,244 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Edgestream Partners L.P. reduced its holdings in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 30.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,937 shares of the financial services provider's stock after selling 18,244 shares during the period. Edgestream Partners L.P.'s holdings in East West Bancorp were worth $3,387,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Manning & Napier Advisors LLC bought a new position in shares of East West Bancorp in the 2nd quarter worth $3,832,000. Janney Montgomery Scott LLC boosted its holdings in East West Bancorp by 159.1% during the third quarter. Janney Montgomery Scott LLC now owns 29,587 shares of the financial services provider's stock worth $2,448,000 after buying an additional 18,166 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of East West Bancorp during the 3rd quarter worth about $4,157,000. Quest Partners LLC increased its stake in shares of East West Bancorp by 830,133.3% in the 3rd quarter. Quest Partners LLC now owns 24,907 shares of the financial services provider's stock valued at $2,061,000 after acquiring an additional 24,904 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of East West Bancorp in the 2nd quarter valued at approximately $852,000. 89.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EWBC. Compass Point boosted their price objective on shares of East West Bancorp from $93.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Wells Fargo & Company raised their price objective on East West Bancorp from $97.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Truist Financial boosted 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. StockNews.com raised shares of East West Bancorp from a "sell" rating to a "hold" rating in a research note on Tuesday, October 29th. Finally, Citigroup increased their price objective on East West Bancorp from $103.00 to $109.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $102.25.

Insider Buying and Selling

In related news, Vice Chairman Douglas Paul Krause sold 12,000 shares of East West Bancorp stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the completion of the sale, the insider now owns 45,403 shares of the company's stock, valued at approximately $4,840,413.83. The trade was a 20.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Irene H. Oh sold 10,000 shares of the company's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $98.50, for a total transaction of $985,000.00. Following the completion of the transaction, the insider now owns 117,193 shares in the company, valued at approximately $11,543,510.50. This trade represents a 7.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,969 shares of company stock valued at $2,458,276. 1.04% of the stock is owned by insiders.

East West Bancorp Stock Down 1.5 %

EWBC traded down $1.68 during trading on Monday, reaching $108.00. 694,198 shares of the stock were exchanged, compared to its average volume of 924,392. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92. The stock's 50 day moving average price is $95.77 and its two-hundred day moving average price is $83.93. East West Bancorp, Inc. has a twelve month low of $65.35 and a twelve month high of $113.95. The stock has a market cap of $14.97 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 3.18 and a beta of 1.27.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share 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 analyst estimates of $641.80 million. During the same period in the previous year, the business earned $2.02 EPS. Equities analysts expect that East West Bancorp, Inc. will post 8.38 EPS for the current year.

East West Bancorp Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Monday, November 4th. This represents a $2.20 annualized dividend and a dividend yield of 2.04%. East West Bancorp's dividend payout ratio is currently 27.78%.

About East West Bancorp

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.