East West Bancorp, Inc. (NASDAQ:EWBC) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC increased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 7.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,804,288 shares of the financial services provider's stock after purchasing an additional 123,376 shares during the period. Jennison Associates LLC owned approximately 1.30% of East West Bancorp worth $149,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Covestor Ltd increased its holdings in East West Bancorp by 7.4% in the third quarter. Covestor Ltd now owns 1,537 shares of the financial services provider's stock valued at $128,000 after buying an additional 106 shares in the last quarter. CIBC Asset Management Inc boosted its position in East West Bancorp by 2.8% during the second quarter. CIBC Asset Management Inc now owns 4,753 shares of the financial services provider's stock worth $348,000 after purchasing an additional 128 shares in the last quarter. Lindenwold Advisors INC grew its holdings in East West Bancorp by 1.8% in the third quarter. Lindenwold Advisors INC now owns 7,270 shares of the financial services provider's stock valued at $602,000 after purchasing an additional 129 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in East West Bancorp by 3.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,606 shares of the financial services provider's stock valued at $264,000 after acquiring an additional 133 shares during the period. Finally, US Bancorp DE increased its holdings in East West Bancorp by 7.8% in the 3rd quarter. US Bancorp DE now owns 1,949 shares of the financial services provider's stock worth $161,000 after acquiring an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company's stock.

Analyst Ratings Changes

EWBC has been the subject of several research reports. Piper Sandler boosted 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. Barclays lifted their target price on shares of East West Bancorp from $108.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Truist Financial increased their target price on shares of East West Bancorp from $93.00 to $101.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Compass Point raised their target price on shares of East West Bancorp from $93.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Finally, Morgan Stanley upped their price target on East West Bancorp from $103.00 to $106.00 and gave the company an "overweight" rating in a research report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $102.25.

Insider Activity at East West Bancorp

In related news, Vice Chairman Douglas Paul Krause sold 12,000 shares of East West Bancorp stock in a transaction on 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 sale, the insider now directly owns 45,403 shares in the company, valued at $4,840,413.83. This trade represents a 20.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total transaction of $167,000.00. Following the completion of the transaction, the director now owns 16,557 shares of the company's stock, valued at $1,382,509.50. This represents a 10.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,969 shares of company stock valued at $2,625,276 over the last quarter. 1.04% of the stock is owned by insiders.

East West Bancorp Stock Up 1.3 %

EWBC traded up $1.40 during trading hours on Wednesday, hitting $105.63. 407,025 shares of the company's stock were exchanged, compared to its average volume of 930,337. The firm has a market cap of $14.64 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 3.01 and a beta of 1.27. East West Bancorp, Inc. has a 12-month low of $60.34 and a 12-month high of $107.68. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $90.67 and a 200 day moving average of $81.93.

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. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. During the same quarter in the prior year, the company earned $2.02 earnings per share. Analysts predict that East West Bancorp, Inc. will post 8.36 EPS for the current fiscal 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 paid a $0.55 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a yield of 2.08%. East West Bancorp's dividend payout ratio is currently 27.78%.

East West Bancorp 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.