Meeder Asset Management Inc. Purchases Shares of 44,895 East West Bancorp, Inc. (NASDAQ:EWBC)

Meeder Asset Management Inc. purchased a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 44,895 shares of the financial services provider's stock, valued at approximately $3,715,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blair William & Co. IL grew 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 acquiring an additional 189 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in East West Bancorp by 1.5% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 33,054 shares of the financial services provider's stock worth $2,579,000 after buying an additional 494 shares in the last quarter. O Shaughnessy Asset Management LLC boosted 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 increased its stake in shares of 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 buying an additional 1,191 shares during the period. Finally, Shell Asset Management Co. raised its position in shares of East West Bancorp by 20.1% during the first quarter. Shell Asset Management Co. now owns 13,038 shares of the financial services provider's stock worth $1,031,000 after acquiring an additional 2,179 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at East West Bancorp

In other news, Director Rudolph Estrada sold 469 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total value 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. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total value of $1,279,320.00. Following the transaction, the insider now directly owns 45,403 shares in the company, valued at $4,840,413.83. The trade was a 20.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,969 shares of company stock valued at $2,625,276. 1.04% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on EWBC shares. Compass Point raised their price target on East West Bancorp from $93.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, October 24th. StockNews.com upgraded shares of East West Bancorp from a "sell" rating to a "hold" rating in a research report on Tuesday, October 29th. Barclays increased their price objective on shares of East West Bancorp from $108.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Morgan Stanley upped their target price on shares of East West Bancorp from $103.00 to $106.00 and gave the company an "overweight" rating in a research report on Monday, September 30th. Finally, Truist Financial upped their price objective on East West Bancorp from $93.00 to $101.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $102.25.

East West Bancorp Stock Up 0.4 %

NASDAQ EWBC traded up $0.39 on Tuesday, reaching $104.23. The company had a trading volume of 586,771 shares, compared to its average volume of 932,673. The company's fifty day moving average is $90.18 and its 200-day moving average is $81.74. The firm has a market capitalization of $14.45 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 3.01 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. East West Bancorp, Inc. has a 1-year low of $60.34 and a 1-year high of $107.68.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.06 by $0.03. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. During the same quarter last year, the firm earned $2.02 EPS. On average, research analysts forecast that East West Bancorp, Inc. will post 8.36 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Monday, November 4th. East West Bancorp's payout ratio is presently 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.