Van ECK Associates Corp Has $6.60 Million Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Van ECK Associates Corp grew its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 40.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,803 shares of the financial services provider's stock after buying an additional 22,804 shares during the quarter. Van ECK Associates Corp owned approximately 0.06% of East West Bancorp worth $6,603,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its position in East West Bancorp by 159.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 29,587 shares of the financial services provider's stock worth $2,448,000 after acquiring an additional 18,166 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of East West Bancorp in the third quarter valued at about $178,000. US Bancorp DE lifted its position in East West Bancorp by 7.8% during the 3rd quarter. US Bancorp DE now owns 1,949 shares of the financial services provider's stock worth $161,000 after buying an additional 141 shares in the last quarter. Meitav Investment House Ltd. bought a new stake in East West Bancorp during the 3rd quarter worth about $225,000. Finally, Abich Financial Wealth Management LLC increased its position in East West Bancorp by 21.0% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 1,254 shares of the financial services provider's stock valued at $104,000 after acquiring an additional 218 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of East West Bancorp from $93.00 to $101.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Piper Sandler upped their price objective on East West Bancorp from $87.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. DA Davidson lifted their target price 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. Wells Fargo & Company upped their price target on East West Bancorp from $97.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley lifted their price objective on East West Bancorp from $103.00 to $106.00 and gave the stock an "overweight" rating in a research report on Monday, September 30th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, East West Bancorp has an average rating of "Moderate Buy" and an average price target of $99.46.

East West Bancorp Trading Up 0.9 %

NASDAQ EWBC traded up $0.88 during trading on Friday, reaching $102.57. 461,695 shares of the stock traded hands, compared to its average volume of 934,100. The stock's 50-day moving average price is $87.03 and its 200 day moving average price is $80.27. 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 firm has a market cap of $14.22 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 2.81 and a beta of 1.27. East West Bancorp, Inc. has a fifty-two week low of $55.43 and a fifty-two week high of $107.33.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $641.80 million. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. During the same quarter last year, the business posted $2.02 EPS. Analysts predict that East West Bancorp, Inc. will post 8.34 EPS for the current year.

East West Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.20 annualized dividend and a yield of 2.14%. East West Bancorp's dividend payout ratio (DPR) is currently 27.78%.

Insider Activity

In other East West Bancorp news, Director Rudolph Estrada sold 469 shares of East West Bancorp stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total value of $45,980.76. Following the sale, the director now owns 17,750 shares of the company's stock, valued at $1,740,210. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Molly Campbell sold 1,500 shares of the stock in a transaction 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 transaction, the director now owns 10,639 shares in the company, valued at approximately $1,049,537.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rudolph Estrada sold 469 shares of the firm's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $98.04, for a total transaction of $45,980.76. Following the completion of the transaction, the director now directly owns 17,750 shares of the company's stock, valued at approximately $1,740,210. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,969 shares of company stock worth $1,345,956 over the last quarter. 1.04% of the stock is currently owned by company insiders.

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.