Wedge Capital Management L L P NC Has $4.53 Million Stock Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Wedge Capital Management L L P NC lowered its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 26.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,289 shares of the financial services provider's stock after selling 17,418 shares during the quarter. Wedge Capital Management L L P NC's holdings in East West Bancorp were worth $4,528,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its position in East West Bancorp by 3.1% in the second quarter. Envestnet Asset Management Inc. now owns 164,835 shares of the financial services provider's stock worth $12,071,000 after buying an additional 4,916 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of East West Bancorp by 7.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,822,886 shares of the financial services provider's stock worth $133,480,000 after acquiring an additional 118,658 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of East West Bancorp by 2.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,132 shares of the financial services provider's stock worth $880,000 after acquiring an additional 242 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of East West Bancorp in the 2nd quarter worth $599,000. Finally, Intech Investment Management LLC acquired a new stake in shares of East West Bancorp during the second quarter worth $4,038,000. 89.53% of the stock is owned by institutional investors and hedge funds.

East West Bancorp Stock Up 1.3 %

EWBC stock traded up $1.31 during mid-day trading on Monday, hitting $100.80. The stock had a trading volume of 612,509 shares, compared to its average volume of 826,293. East West Bancorp, Inc. has a 1-year low of $67.27 and a 1-year high of $113.95. The company has a fifty day moving average of $101.39 and a 200 day moving average of $90.42. 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 stock has a market capitalization of $13.97 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 2.60 and a beta of 1.30.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted 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 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 previous year, the firm posted $2.02 earnings per share. On average, equities analysts expect that East West Bancorp, Inc. will post 8.38 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a $0.55 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.20 annualized dividend and a yield of 2.18%. East West Bancorp's dividend payout ratio (DPR) is currently 27.78%.

Insiders Place Their Bets

In other news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the company'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 directly owns 45,403 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Molly Campbell sold 1,500 shares of the firm's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $98.65, for a total transaction of $147,975.00. Following the completion of the sale, the director now owns 10,639 shares in the company, valued at approximately $1,049,537.35. The trade was a 12.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,969 shares of company stock valued at $2,458,276 over the last 90 days. 1.04% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on East West Bancorp from $105.00 to $120.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. StockNews.com raised shares of East West Bancorp from a "sell" rating to a "hold" rating in a research report on Tuesday, October 29th. Piper Sandler upped their price target on shares of East West Bancorp from $87.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Compass Point lifted their price objective on shares of East West Bancorp from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Finally, Citigroup boosted their target price on shares of East West Bancorp from $103.00 to $109.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, East West Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $109.77.

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.