UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Position in East West Bancorp, Inc. $EWBC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 502,415 shares of the financial services provider’s stock after selling 6,006 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.37% of East West Bancorp worth $64,857,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Solstein Capital LLC bought a new stake in East West Bancorp during the 2nd quarter valued at about $27,000. Ancora Advisors LLC purchased a new position in shares of East West Bancorp during the second quarter worth approximately $27,000. Fiduciary Financial Advisors bought a new stake in shares of East West Bancorp during the second quarter valued at approximately $35,000. Atlantic Union Bankshares Corp bought a new stake in shares of East West Bancorp during the fourth quarter valued at approximately $31,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of East West Bancorp in the second quarter valued at approximately $37,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, insider Irene H. Oh sold 800 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $133.19, for a total transaction of $106,552.00. Following the completion of the sale, the insider directly owned 84,698 shares of the company’s stock, valued at approximately $11,280,926.62. This represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack C. Liu sold 1,000 shares of East West Bancorp stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $135.02, for a total transaction of $135,020.00. Following the completion of the transaction, the director directly owned 13,709 shares in the company, valued at approximately $1,850,989.18. The trade was a 6.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 23,511 shares of company stock valued at $3,077,741. 0.94% of the stock is currently owned by insiders.

East West Bancorp Trading Up 1.7%

Shares of NASDAQ:EWBC opened at $128.97 on Thursday. East West Bancorp, Inc. has a 12-month low of $92.67 and a 12-month high of $137.47. The business’s fifty day simple moving average is $131.31 and its 200-day simple moving average is $122.57. The company has a market capitalization of $17.67 billion, a PE ratio of 12.40, a P/E/G ratio of 1.47 and a beta of 0.93. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.33.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 EPS for the quarter, topping the consensus estimate of $2.61 by $0.02. The firm had revenue of $789.98 million during the quarter, compared to analyst estimates of $784.47 million. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.24 EPS. As a group, equities research analysts predict that East West Bancorp, Inc. will post 10.61 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were issued a $0.80 dividend. The ex-dividend date was Monday, August 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. East West Bancorp’s payout ratio is currently 30.77%.

Analyst Ratings Changes

EWBC has been the topic of several research reports. Truist Financial raised their price objective on East West Bancorp from $128.00 to $136.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Citigroup reissued a “buy” rating on shares of East West Bancorp in a research report on Thursday, July 23rd. Morgan Stanley lifted their price objective on East West Bancorp from $128.00 to $131.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Wall Street Zen raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Wells Fargo & Company assumed coverage on shares of East West Bancorp in a research report on Monday, August 10th. They set an “overweight” rating and a $155.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.92.

East West Bancorp Profile

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.