Truist Financial Corp Purchases 5,781 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Truist Financial Corp grew its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 48.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,795 shares of the financial services provider's stock after buying an additional 5,781 shares during the quarter. Truist Financial Corp's holdings in East West Bancorp were worth $1,704,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of EWBC. Westfield Capital Management Co. LP grew its position in East West Bancorp by 39.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 520,656 shares of the financial services provider's stock worth $43,079,000 after acquiring an additional 148,530 shares during the last quarter. FMR LLC boosted its stake in East West Bancorp by 1.8% in the third quarter. FMR LLC now owns 7,882,803 shares of the financial services provider's stock worth $652,223,000 after purchasing an additional 136,528 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of East West Bancorp during the fourth quarter worth $12,734,000. Jennison Associates LLC increased its stake in shares of East West Bancorp by 7.3% in the third quarter. Jennison Associates LLC now owns 1,804,288 shares of the financial services provider's stock valued at $149,287,000 after buying an additional 123,376 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of East West Bancorp by 4.9% in the third quarter. Geode Capital Management LLC now owns 2,608,132 shares of the financial services provider's stock valued at $216,438,000 after buying an additional 122,738 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company's stock.

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East West Bancorp Trading Down 1.0 %

NASDAQ:EWBC traded down $0.92 on Monday, reaching $93.51. The company's stock had a trading volume of 641,132 shares, compared to its average volume of 854,143. East West Bancorp, Inc. has a 1-year low of $68.78 and a 1-year high of $113.95. The business's 50-day moving average price is $98.29 and its two-hundred day moving average price is $94.44. The firm has a market cap of $12.96 billion, a PE ratio of 11.23, a PEG ratio of 1.29 and a beta of 1.30. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.91.

East West Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 17th. Investors of record on Monday, February 3rd were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.57%. This is a boost from East West Bancorp's previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Monday, February 3rd. East West Bancorp's dividend payout ratio is presently 28.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on EWBC shares. Barclays dropped their target price on shares of East West Bancorp from $125.00 to $120.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. StockNews.com downgraded East West Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, February 19th. Piper Sandler lowered their target price on East West Bancorp from $100.00 to $97.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. UBS Group assumed coverage on shares of East West Bancorp in a research note on Tuesday, December 17th. They set a "neutral" rating and a $112.00 price target for the company. Finally, Compass Point raised their price objective on shares of East West Bancorp from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $110.38.

Insiders Place Their Bets

In related news, Director Jack C. Liu sold 725 shares of the company's stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $104.50, for a total value of $75,762.50. Following the completion of the transaction, the director now directly owns 15,832 shares of the company's stock, valued at approximately $1,654,444. This represents a 4.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.04% of the company's stock.

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.