Victory Capital Management Inc. Sells 246,241 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Victory Capital Management Inc. lowered its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 63.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 141,852 shares of the financial services provider's stock after selling 246,241 shares during the quarter. Victory Capital Management Inc. owned approximately 0.10% of East West Bancorp worth $11,737,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in East West Bancorp during the third quarter valued at about $25,000. Cullen Frost Bankers Inc. purchased a new stake in East West Bancorp during the second quarter valued at about $30,000. UMB Bank n.a. lifted its holdings in East West Bancorp by 362.8% during the third quarter. UMB Bank n.a. now owns 361 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 283 shares during the last quarter. American Capital Advisory LLC purchased a new stake in East West Bancorp during the second quarter valued at about $31,000. Finally, Signaturefd LLC lifted its holdings in East West Bancorp by 490.1% during the second quarter. Signaturefd LLC now owns 537 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 446 shares during the last quarter. Institutional investors own 89.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Morgan Stanley upped their price objective on shares of East West Bancorp from $103.00 to $106.00 and gave the company an "overweight" rating in a report on Monday, September 30th. Wells Fargo & Company increased their price target on shares of East West Bancorp from $97.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Barclays increased their price target on shares of East West Bancorp from $108.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Truist Financial increased their price target on shares of East West Bancorp from $93.00 to $101.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Finally, StockNews.com raised shares of East West Bancorp from a "sell" rating to a "hold" rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.25.

Insider Transactions at East West Bancorp

In other news, Director Jack C. Liu sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the transaction, the director now owns 16,557 shares in the company, valued at approximately $1,382,509.50. This trade represents a 10.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the firm'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 transaction of $1,279,320.00. Following the completion of the transaction, the insider now owns 45,403 shares in the company, valued at $4,840,413.83. This represents a 20.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,969 shares of company stock worth $2,625,276. Insiders own 1.04% of the company's stock.

East West Bancorp Stock Up 1.2 %

Shares of NASDAQ EWBC opened at $105.50 on Thursday. East West Bancorp, Inc. has a one year low of $60.34 and a one year high of $107.68. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.92 and a quick ratio of 0.92. The firm's 50 day simple moving average is $90.67 and its two-hundred day simple moving average is $81.93. The stock has a market capitalization of $14.63 billion, a P/E ratio of 13.32, a PEG ratio of 3.01 and a beta of 1.27.

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

East West Bancorp Announces Dividend

The company also recently announced 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 2.09%. The ex-dividend date of this dividend was Monday, November 4th. East West Bancorp's dividend payout ratio is 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.