East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by Entropy Technologies LP

Entropy Technologies LP reduced its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 23.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,700 shares of the financial services provider’s stock after selling 1,473 shares during the quarter. Entropy Technologies LP’s holdings in East West Bancorp were worth $389,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in East West Bancorp during the third quarter worth about $25,000. UMB Bank n.a. raised its stake in shares of 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 buying an additional 283 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of East West Bancorp in the 2nd quarter valued at approximately $30,000. American Capital Advisory LLC acquired a new stake in shares of East West Bancorp in the 2nd quarter valued at approximately $31,000. Finally, Tobam boosted its stake in shares of East West Bancorp by 131.7% in the third quarter. Tobam now owns 482 shares of the financial services provider’s stock valued at $40,000 after buying an additional 274 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wedbush raised their target price on East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Morgan Stanley boosted their price objective on shares of East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Citigroup increased their target price on shares of East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Piper Sandler boosted their price target on East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial raised their price objective on East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, East West Bancorp has a consensus rating of “Moderate Buy” and an average target price of $102.25.

Insider Transactions at East West Bancorp

In related news, Director Rudolph Estrada sold 469 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $98.04, for a total value of $45,980.76. Following the sale, the director now directly owns 17,750 shares of the company’s stock, valued at $1,740,210. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total transaction of $167,000.00. Following the transaction, the director now directly owns 16,557 shares of the company’s stock, valued at approximately $1,382,509.50. This represents a 10.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,969 shares of company stock valued at $2,625,276. 1.04% of the stock is currently owned by insiders.

East West Bancorp Stock Down 0.2 %

Shares of NASDAQ EWBC opened at $103.34 on Friday. The stock has a fifty day moving average price of $89.21 and a 200 day moving average price of $81.26. The company has a market cap of $14.33 billion, a P/E ratio of 13.05, a P/E/G ratio of 3.02 and a beta of 1.27. East West Bancorp, Inc. has a 12-month low of $60.34 and a 12-month high of $107.68. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates 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 firm earned $2.02 earnings per share. Research analysts anticipate that East West Bancorp, Inc. will post 8.36 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Monday, November 4th. East West Bancorp’s 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.