Intech Investment Management LLC Trims Stock Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Intech Investment Management LLC trimmed its stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 36.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,076 shares of the financial services provider's stock after selling 20,068 shares during the period. Intech Investment Management LLC's holdings in East West Bancorp were worth $2,902,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new position in shares of East West Bancorp in the third quarter worth approximately $25,000. Cullen Frost Bankers Inc. bought a new position in East West Bancorp in the 2nd quarter worth $30,000. UMB Bank n.a. increased its stake in East West Bancorp by 362.8% in the 3rd 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 bought a new stake in East West Bancorp during the second quarter valued at about $31,000. Finally, Signaturefd LLC lifted its position in shares of East West Bancorp by 490.1% in the second quarter. Signaturefd LLC now owns 537 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 446 shares in the last quarter. 89.53% of the stock is owned by institutional investors.

East West Bancorp Trading Up 3.0 %

EWBC stock traded up $3.25 during mid-day trading on Friday, reaching $110.08. 886,483 shares of the stock traded hands, compared to its average volume of 916,094. East West Bancorp, Inc. has a one year low of $60.34 and a one year high of $110.31. The stock has a market capitalization of $15.26 billion, a PE ratio of 13.90, a PEG ratio of 3.11 and a beta of 1.27. 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 business has a 50-day moving average price of $92.41 and a two-hundred day moving average price of $82.53.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates 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 prior year, the company posted $2.02 EPS. Equities research analysts expect that East West Bancorp, Inc. will post 8.37 EPS for the current year.

East West Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $0.55 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a yield of 2.00%. East West Bancorp's dividend payout ratio is currently 27.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on EWBC shares. Wedbush increased their price objective on shares of East West Bancorp from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Barclays raised their price objective on East West Bancorp from $108.00 to $110.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Morgan Stanley boosted their target price on East West Bancorp from $103.00 to $106.00 and gave the stock an "overweight" rating in a research report on Monday, September 30th. Wells Fargo & Company increased their price target on East West Bancorp from $97.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Finally, Citigroup lifted their price objective on East West Bancorp from $103.00 to $109.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $102.25.

Insider Buying and Selling

In other news, insider Irene H. Oh sold 10,000 shares of East West Bancorp stock in a transaction 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 completion of the sale, the insider now directly owns 117,193 shares in the company, valued at approximately $11,543,510.50. The trade was a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Molly Campbell sold 1,500 shares of the company'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 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. This represents a 12.36 % decrease in their position. 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.