Mirae Asset Global Investments Co. Ltd. Has $6.92 Million Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 10.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,845 shares of the financial services provider's stock after buying an additional 8,134 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.06% of East West Bancorp worth $6,917,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in EWBC. International Assets Investment Management LLC bought a new stake in shares of East West Bancorp during the third quarter valued at approximately $3,142,000. Private Advisor Group LLC increased its position in East West Bancorp by 11.3% in the 3rd quarter. Private Advisor Group LLC now owns 4,564 shares of the financial services provider's stock valued at $378,000 after acquiring an additional 462 shares during the period. RBA Wealth Management LLC raised its stake in East West Bancorp by 0.7% during the 3rd quarter. RBA Wealth Management LLC now owns 56,310 shares of the financial services provider's stock valued at $4,659,000 after acquiring an additional 397 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in East West Bancorp by 3.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 121,160 shares of the financial services provider's stock worth $10,025,000 after acquiring an additional 3,488 shares during the period. Finally, Whittier Trust Co. grew its stake in shares of East West Bancorp by 4.3% in the third quarter. Whittier Trust Co. now owns 250,142 shares of the financial services provider's stock worth $20,697,000 after purchasing an additional 10,263 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp Trading Down 0.4 %

Shares of NASDAQ EWBC traded down $0.36 during mid-day trading on Tuesday, hitting $98.48. 737,399 shares of the company traded hands, compared to its average volume of 932,056. The business has a 50 day moving average of $84.28 and a two-hundred day moving average of $78.84. The stock has a market capitalization of $13.70 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 2.20 and a beta of 1.29. East West Bancorp, Inc. has a 1 year low of $52.88 and a 1 year high of $99.55. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The company had revenue of $1.16 billion during 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 16.41%. During the same period last year, the company posted $2.02 earnings per share. On average, sell-side analysts anticipate that East West Bancorp, Inc. will post 8.21 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.23%. East West Bancorp's payout ratio is currently 27.71%.

Insider Activity

In related news, Director Jack C. Liu sold 2,000 shares of the company's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total transaction of $167,000.00. Following the transaction, the director now directly owns 16,557 shares of the company's stock, valued at approximately $1,382,509.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other East West Bancorp news, EVP Lisa L. Kim sold 6,000 shares of East West Bancorp stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $78.68, for a total transaction of $472,080.00. Following the completion of the sale, the executive vice president now owns 18,891 shares of the company's stock, valued at $1,486,343.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jack C. Liu sold 2,000 shares of the company's stock in a transaction on Friday, August 23rd. The stock was 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 directly owns 16,557 shares in the company, valued at $1,382,509.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EWBC. Morgan Stanley lifted their price objective on shares of East West Bancorp from $103.00 to $106.00 and gave the company an "overweight" rating in a research note on Monday, September 30th. Compass Point upped their price target 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. Wells Fargo & Company raised their price objective on shares of East West Bancorp from $97.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Piper Sandler upped their target price on East West Bancorp from $87.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Finally, Barclays lifted their price target 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. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $99.46.

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.