Wellington Management Group LLP Has $1.49 Million Stake in East West Bancorp, Inc. (NASDAQ:EWBC)

Wellington Management Group LLP lowered its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 76.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,978 shares of the financial services provider's stock after selling 57,658 shares during the quarter. Wellington Management Group LLP's holdings in East West Bancorp were worth $1,488,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EWBC. Capital Performance Advisors LLP bought a new stake in East West Bancorp in the third quarter valued at approximately $25,000. Cullen Frost Bankers Inc. bought a new position in shares of East West Bancorp during the 2nd quarter worth $30,000. UMB Bank n.a. raised 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 valued at $30,000 after acquiring an additional 283 shares during the period. American Capital Advisory LLC bought a new stake in East West Bancorp during the 2nd quarter worth approximately $31,000. Finally, Signaturefd LLC boosted its stake 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 buying an additional 446 shares during the period. Institutional investors own 89.53% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Morgan Stanley boosted their target price 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. DA Davidson upped their price objective on shares of East West Bancorp from $100.00 to $107.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Piper Sandler lifted their target price on East West Bancorp from $87.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their price target on East West Bancorp from $96.00 to $128.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Finally, Barclays upped their price target on East West Bancorp from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $109.77.

East West Bancorp Stock Down 0.2 %

Shares of EWBC stock traded down $0.23 during trading hours on Thursday, reaching $94.87. The company had a trading volume of 1,388,578 shares, compared to its average volume of 924,147. The company has a market capitalization of $13.15 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 3.05 and a beta of 1.28. East West Bancorp, Inc. has a twelve month low of $67.27 and a twelve month high of $113.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92. The stock's fifty day simple moving average is $100.88 and its 200 day simple moving average is $86.27.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share 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 during the quarter, compared to the consensus estimate of $641.80 million. During the same quarter in the prior year, the firm earned $2.02 EPS. As a group, sell-side analysts expect that East West Bancorp, Inc. will post 8.39 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a $0.55 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a yield of 2.32%. East West Bancorp's dividend payout ratio (DPR) is 27.78%.

Insider Buying and Selling at East West Bancorp

In related news, insider Irene H. Oh sold 10,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $98.50, for a total value of $985,000.00. Following the completion of the transaction, the insider now owns 117,193 shares in the company, valued at $11,543,510.50. This trade represents a 7.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the sale, the insider now directly owns 45,403 shares of the company's stock, valued at $4,840,413.83. This represents a 20.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,969 shares of company stock valued at $2,458,276. 1.04% of the stock is owned by corporate insiders.

About East West Bancorp

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.