Massachusetts Financial Services Co. MA Has $224.95 Million Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Massachusetts Financial Services Co. MA cut its holdings in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,718,783 shares of the financial services provider's stock after selling 149,660 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.96% of East West Bancorp worth $224,952,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Blair William & Co. IL increased its holdings in East West Bancorp by 5.4% during the 1st quarter. Blair William & Co. IL now owns 3,691 shares of the financial services provider's stock worth $292,000 after purchasing an additional 189 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in East West Bancorp by 49.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,565 shares of the financial services provider's stock valued at $361,000 after buying an additional 1,511 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in East West Bancorp by 1.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 105,491 shares of the financial services provider's stock valued at $8,343,000 after acquiring an additional 1,191 shares in the last quarter. EP Wealth Advisors LLC boosted its position in East West Bancorp by 3.4% during the 1st quarter. EP Wealth Advisors LLC now owns 9,806 shares of the financial services provider's stock worth $776,000 after acquiring an additional 323 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in East West Bancorp during the 1st quarter worth approximately $1,369,000. 89.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on EWBC. Stephens boosted their price objective on shares of East West Bancorp from $91.00 to $104.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Wedbush boosted their price target on shares of East West Bancorp from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Piper Sandler raised their price objective on East West Bancorp from $87.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Truist Financial upped their target price on East West Bancorp from $93.00 to $101.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Finally, DA Davidson raised their price target 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. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $102.25.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Molly Campbell sold 1,500 shares of East West Bancorp stock in a transaction dated 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 $1,049,537.35. The trade was a 12.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rudolph Estrada sold 469 shares of the stock in a transaction that occurred 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 transaction, the director now owns 17,750 shares in the company, valued at approximately $1,740,210. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,969 shares of company stock worth $2,458,276 over the last quarter. Company insiders own 1.04% of the company's stock.

East West Bancorp Stock Performance

Shares of EWBC stock traded up $3.25 during trading on Friday, reaching $110.08. 886,483 shares of the company's stock were exchanged, compared to its average volume of 916,094. East West Bancorp, Inc. has a twelve month low of $60.34 and a twelve month high of $110.31. The firm's fifty day moving average price is $92.41 and its 200-day moving average price is $82.49. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. 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.

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 EPS for the quarter, beating the consensus estimate of $2.06 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate 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 in the previous year, the company earned $2.02 earnings per share. As a group, sell-side analysts anticipate that East West Bancorp, Inc. will post 8.37 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. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Monday, November 4th. East West Bancorp's dividend payout ratio is presently 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.