East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 8.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 351,782 shares of the financial services provider's stock after selling 33,413 shares during the period. JPMorgan Chase & Co. owned approximately 0.25% of East West Bancorp worth $29,106,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in East West Bancorp in the third quarter valued at about $25,000. Wilmington Savings Fund Society FSB acquired a new position in East West Bancorp during the third quarter worth $26,000. Cullen Frost Bankers Inc. acquired a new position in East West Bancorp during the second quarter worth $30,000. UMB Bank n.a. boosted its position in East West Bancorp by 362.8% during the third quarter. UMB Bank n.a. now owns 361 shares of the financial services provider's stock worth $30,000 after purchasing an additional 283 shares in the last quarter. Finally, Tobam increased its position in shares of East West Bancorp by 131.7% in the third quarter. Tobam now owns 482 shares of the financial services provider's stock valued at $40,000 after buying an additional 274 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company's stock.

East West Bancorp Trading Down 0.2 %

NASDAQ:EWBC traded down $0.21 during mid-day trading on Wednesday, reaching $95.35. The company's stock had a trading volume of 559,701 shares, compared to its average volume of 643,980. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $13.22 billion, a P/E ratio of 12.04, a P/E/G ratio of 2.95 and a beta of 1.28. The company's fifty day simple moving average is $101.89 and its two-hundred day simple moving average is $88.82. East West Bancorp, Inc. has a twelve month low of $67.27 and a twelve month high of $113.95.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its earnings results 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. The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations 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 period last year, the company earned $2.02 earnings per share. On average, equities analysts predict that East West Bancorp, Inc. will post 8.39 EPS for the current year.

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a dividend of $0.55 per share. The ex-dividend date was Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.31%. East West Bancorp's payout ratio is 27.78%.

Insider Buying and Selling

In other East West Bancorp 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 completion of the sale, the director now directly owns 10,639 shares in the company, valued at $1,049,537.35. The trade was a 12.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rudolph Estrada sold 469 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total transaction of $45,980.76. Following the completion of the sale, the director now directly owns 17,750 shares of the company's stock, valued at $1,740,210. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,969 shares of company stock valued at $2,458,276. 1.04% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EWBC shares. Citigroup boosted their price objective on shares of East West Bancorp from $103.00 to $109.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Wells Fargo & Company increased their price target on shares of East West Bancorp from $105.00 to $120.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. Truist Financial lifted their price objective on East West Bancorp from $93.00 to $101.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. DA Davidson increased their target price on East West Bancorp from $100.00 to $107.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Wedbush boosted their price target on East West Bancorp from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $109.77.

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.