East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 63.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,852 shares of the financial services provider's stock after selling 246,241 shares during the quarter. Victory Capital Management Inc. owned about 0.10% of East West Bancorp worth $11,737,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of East West Bancorp in the 3rd quarter valued at about $25,000. Cullen Frost Bankers Inc. bought a new position in East West Bancorp in the second quarter valued at approximately $30,000. UMB Bank n.a. grew its holdings in East West Bancorp by 362.8% during the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider's stock worth $30,000 after acquiring an additional 283 shares during the period. American Capital Advisory LLC bought a new stake in shares of East West Bancorp during the 2nd quarter valued at $31,000. Finally, Signaturefd LLC lifted its stake in shares of East West Bancorp by 490.1% in the 2nd 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 period. Institutional investors and hedge funds own 89.53% of the company's stock.

East West Bancorp Stock Up 1.3 %

NASDAQ EWBC traded up $1.33 during mid-day trading on Thursday, hitting $106.83. The company's stock had a trading volume of 723,924 shares, compared to its average volume of 931,019. The firm has a market capitalization of $14.81 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 3.03 and a beta of 1.27. East West Bancorp, Inc. has a twelve month low of $60.34 and a twelve month high of $108.50. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company's 50 day simple moving average is $91.22 and its 200 day simple moving average is $82.09.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.06 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $641.80 million. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. During the same period in the prior year, the firm posted $2.02 earnings per share. Analysts anticipate that East West Bancorp, Inc. will post 8.37 earnings per share for the current year.

East West Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Monday, November 4th. East West Bancorp's payout ratio is currently 27.78%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EWBC. DA Davidson upped their price objective on East West Bancorp from $100.00 to $107.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Compass Point increased their price target on shares of East West Bancorp from $93.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Morgan Stanley boosted 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. Truist Financial increased their target price 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, Piper Sandler boosted their price objective on East West Bancorp from $87.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, East West Bancorp presently has an average rating of "Moderate Buy" and an average target price of $102.25.

Insider Activity

In related news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total value of $1,279,320.00. Following the completion of the transaction, the insider now owns 45,403 shares of the company's stock, valued at $4,840,413.83. The trade was a 20.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rudolph Estrada sold 469 shares of the firm's 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 completion of the sale, the director now directly owns 17,750 shares of the company's stock, valued at approximately $1,740,210. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,969 shares of company stock worth $2,625,276 over the last 90 days. 1.04% of the stock is currently owned by 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.