OLD National Bancorp IN Sells 133 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

OLD National Bancorp IN lowered its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,790 shares of the financial services provider’s stock after selling 133 shares during the quarter. OLD National Bancorp IN’s holdings in East West Bancorp were worth $231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in EWBC. Capital Research Global Investors bought a new stake in East West Bancorp during the first quarter valued at about $338,142,000. Jupiter Asset Management Ltd. bought a new stake in East West Bancorp during the second quarter valued at about $59,460,000. Lord Abbett & CO. LLC boosted its position in East West Bancorp by 112.5% during the first quarter. Lord Abbett & CO. LLC now owns 1,441,198 shares of the financial services provider’s stock valued at $114,013,000 after purchasing an additional 762,958 shares in the last quarter. Jennison Associates LLC boosted its position in East West Bancorp by 82.2% during the first quarter. Jennison Associates LLC now owns 1,687,555 shares of the financial services provider’s stock valued at $133,502,000 after purchasing an additional 761,347 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in East West Bancorp by 152.1% in the second quarter. Millennium Management LLC now owns 374,213 shares of the financial services provider’s stock worth $27,404,000 after acquiring an additional 225,799 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on EWBC. Truist Financial upped their price objective on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday. Wedbush raised their price target on shares of East West Bancorp from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com lowered shares of East West Bancorp from a “hold” rating to a “sell” rating in a report on Monday. DA Davidson raised their target price on East West Bancorp from $100.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Piper Sandler boosted their price target on East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, East West Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $97.08.

Insider Activity

In other news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $83.50, for a total transaction of $167,000.00. Following the sale, the director now directly owns 16,557 shares in the company, valued at $1,382,509.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $83.50, for a total transaction of $167,000.00. Following the sale, the director now directly owns 16,557 shares in the company, valued at $1,382,509.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa L. Kim sold 6,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $78.68, for a total value of $472,080.00. Following the sale, the executive vice president now owns 18,891 shares in the company, valued at $1,486,343.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,346 shares of company stock worth $1,108,160 in the last ninety days. Company insiders own 1.04% of the company’s stock.

East West Bancorp Price Performance

Shares of EWBC opened at $95.63 on Thursday. The business’s 50-day moving average is $83.31 and its two-hundred day moving average is $78.36. The company has a market capitalization of $13.31 billion, a P/E ratio of 12.04, a P/E/G 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 fifty-two week low of $51.40 and a fifty-two week high of $98.95.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $641.80 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. During the same period last year, the firm earned $2.02 EPS. Research analysts predict that East West Bancorp, Inc. will post 8.2 earnings per share for the current year.

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.