Mather Group LLC. Sells 269 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Mather Group LLC. cut its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 35.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 490 shares of the financial services provider’s stock after selling 269 shares during the quarter. Mather Group LLC.’s holdings in East West Bancorp were worth $41,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Capital Research Global Investors bought a new stake in shares of East West Bancorp in the 1st quarter worth about $338,142,000. Jupiter Asset Management Ltd. bought a new stake in East West Bancorp in the second quarter worth about $59,460,000. Lord Abbett & CO. LLC boosted its position in shares of 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 buying an additional 762,958 shares during the period. Jennison Associates LLC grew its stake in shares of 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 buying an additional 761,347 shares during the last quarter. Finally, Miller Howard Investments Inc. NY purchased a new stake in shares of East West Bancorp in the first quarter worth approximately $39,347,000. 89.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EWBC has been the topic of several research analyst reports. Morgan Stanley upped their price objective on East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Truist Financial cut their price target on shares of East West Bancorp from $96.00 to $93.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Wedbush lifted their price objective on shares of East West Bancorp from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Wells Fargo & Company raised their target price on shares of East West Bancorp from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Finally, Barclays boosted their price target on East West Bancorp from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, East West Bancorp presently has an average rating of “Moderate Buy” and an average target price of $92.77.

Insider Buying and Selling at East West Bancorp

In other news, Director Rudolph Estrada sold 1,896 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.77, for a total transaction of $166,411.92. Following the transaction, the director now owns 18,470 shares in the company, valued at $1,621,111.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other East West Bancorp news, EVP Gary Teo sold 3,450 shares of East West Bancorp stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $87.73, for a total transaction of $302,668.50. Following the completion of the sale, the executive vice president now owns 15,875 shares of the company’s stock, valued at approximately $1,392,713.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rudolph Estrada sold 1,896 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.77, for a total value of $166,411.92. Following the sale, the director now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,346 shares of company stock worth $1,108,160. 1.04% of the stock is owned by insiders.

East West Bancorp Stock Performance

EWBC stock opened at $88.33 on Monday. The firm has a 50-day simple moving average of $81.13 and a two-hundred day simple moving average of $77.56. 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. The firm has a market cap of $12.29 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 2.08 and a beta of 1.29.

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

East West Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Friday, August 2nd. East West Bancorp’s dividend payout ratio (DPR) is presently 27.71%.

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.