Amalgamated Bank Sells 20,934 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Amalgamated Bank cut its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 24.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 66,063 shares of the financial services provider’s stock after selling 20,934 shares during the period. Amalgamated Bank’s holdings in East West Bancorp were worth $5,466,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of EWBC. Norden Group LLC bought a new stake in shares of East West Bancorp during the 1st quarter worth $414,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in East West Bancorp in the 1st quarter worth about $3,961,000. BNP Paribas Financial Markets increased its holdings in East West Bancorp by 120.1% in the 1st quarter. BNP Paribas Financial Markets now owns 21,226 shares of the financial services provider’s stock worth $1,679,000 after acquiring an additional 11,582 shares during the last quarter. Nordea Investment Management AB increased its holdings in East West Bancorp by 25.5% in the 1st quarter. Nordea Investment Management AB now owns 32,543 shares of the financial services provider’s stock worth $2,583,000 after acquiring an additional 6,610 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in East West Bancorp during the 1st quarter valued at about $897,000. 89.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EWBC has been the subject of a number of recent analyst reports. StockNews.com raised East West Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Wells Fargo & Company lifted their price target on East West Bancorp from $97.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. DA Davidson lifted their price target on East West Bancorp from $100.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Barclays boosted their target price on East West Bancorp from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial boosted their target price on East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, East West Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $99.46.

East West Bancorp Stock Performance

Shares of EWBC stock opened at $101.69 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92. East West Bancorp, Inc. has a fifty-two week low of $55.43 and a fifty-two week high of $107.33. The stock has a 50 day moving average price of $87.03 and a two-hundred day moving average price of $80.27. The company has a market capitalization of $14.09 billion, a P/E ratio of 12.84, a PEG ratio of 2.81 and a beta of 1.27.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.03. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $641.80 million. During the same quarter in the previous year, the company posted $2.02 earnings per share. Analysts expect that East West Bancorp, Inc. will post 8.34 earnings per share for the current year.

East West Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.20 annualized dividend and a dividend yield of 2.16%. East West Bancorp’s dividend payout ratio (DPR) is presently 27.78%.

Insider Activity

In related news, Director Molly Campbell sold 1,500 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $98.65, for a total value of $147,975.00. Following the sale, the director now directly owns 10,639 shares of the company’s stock, valued at $1,049,537.35. This 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 is available at this link. In related news, insider Irene H. Oh sold 10,000 shares of the company’s 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 sale, the insider now directly owns 117,193 shares of the company’s stock, valued at $11,543,510.50. This 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 is available at this link. Also, Director Molly Campbell sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $98.65, for a total value of $147,975.00. Following the transaction, the director now owns 10,639 shares of the company’s stock, valued at $1,049,537.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,969 shares of company stock valued at $1,345,956. Company insiders own 1.04% of the company’s stock.

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.