East West Bancorp, Inc. (NASDAQ:EWBC) Shares Bought by Truist Financial Corp

Truist Financial Corp grew its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 6.1% during the second quarter, Holdings Channel.com reports. The fund owned 25,118 shares of the financial services provider’s stock after acquiring an additional 1,435 shares during the period. Truist Financial Corp’s holdings in East West Bancorp were worth $1,839,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in EWBC. Riverview Trust Co purchased a new stake in shares of East West Bancorp during the first quarter worth $25,000. Kapitalo Investimentos Ltda acquired a new stake in East West Bancorp in the 4th quarter valued at about $29,000. Rise Advisors LLC acquired a new position in shares of East West Bancorp during the first quarter worth about $30,000. Cullen Frost Bankers Inc. purchased a new stake in shares of East West Bancorp during the second quarter worth approximately $30,000. Finally, American Capital Advisory LLC acquired a new stake in East West Bancorp in the second quarter valued at approximately $31,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Stock Performance

Shares of NASDAQ:EWBC opened at $88.33 on Friday. The business’s 50-day simple moving average is $80.95 and its 200 day simple moving average is $77.48. The company has a market cap of $12.24 billion, a P/E ratio of 11.32, a PEG ratio of 2.08 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. East West Bancorp, Inc. has a one year low of $50.23 and a one year high of $89.75.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.10. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The company had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $631.61 million. During the same period in the prior year, the company posted $2.20 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. On average, sell-side analysts forecast that East West Bancorp, Inc. will post 8.2 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.49%. East West Bancorp’s dividend payout ratio (DPR) is 28.21%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EWBC shares. Piper Sandler lifted their price objective on shares of East West Bancorp from $72.50 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Stephens lifted their price target on East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Jefferies Financial Group dropped their price objective on East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Morgan Stanley upped their price target on East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Wedbush raised their price objective on shares of East West Bancorp from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.77.

Insider Activity at East West Bancorp

In other news, Director Rudolph Estrada sold 1,896 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.77, for a total value of $166,411.92. Following the completion of the sale, the director now directly owns 18,470 shares in the company, valued at approximately $1,621,111.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the sale, the director now owns 16,557 shares in the company, valued at approximately $1,382,509.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rudolph Estrada sold 1,896 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.77, for a total value of $166,411.92. Following the completion of the sale, the director now owns 18,470 shares in the company, valued at approximately $1,621,111.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,346 shares of company stock valued at $1,108,160 over the last three months. 1.04% of the stock is owned by insiders.

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.