East West Bancorp, Inc. $EWBC Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 1.2% during the second quarter, Holdings Channel.com reports. The fund 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’s holdings in East West Bancorp were worth $64,857,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of EWBC. Solstein Capital LLC acquired a new stake in East West Bancorp in the 2nd quarter worth approximately $27,000. Ancora Advisors LLC acquired a new position in East West Bancorp during the 2nd quarter valued at approximately $27,000. Atlantic Union Bankshares Corp acquired a new position in East West Bancorp during the 4th quarter valued at approximately $31,000. Kelleher Financial Advisors purchased a new position in shares of East West Bancorp in the third quarter worth $31,000. Finally, Fiduciary Financial Advisors acquired a new stake in shares of East West Bancorp during the second quarter worth $35,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of East West Bancorp from $128.00 to $131.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Citigroup reaffirmed a “buy” rating on shares of East West Bancorp in a research report on Thursday, July 23rd. Truist Financial increased their price objective on East West Bancorp from $128.00 to $136.00 and gave the company a “hold” rating in a report on Friday, July 10th. Weiss Ratings restated a “buy (b)” rating on shares of East West Bancorp in a research note on Friday, July 10th. Finally, Wells Fargo & Company assumed coverage on East West Bancorp in a report on Monday, August 10th. They set an “overweight” rating and a $155.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $141.92.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, insider Irene H. Oh sold 11,211 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $129.00, for a total value of $1,446,219.00. Following the sale, the insider owned 85,998 shares in the company, valued at approximately $11,093,742. This represents a 11.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jack C. Liu sold 1,000 shares of the firm’s 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 sale, the director directly owned 13,709 shares in the company, valued at $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 owned by company insiders.

East West Bancorp Trading Up 1.7%

NASDAQ EWBC opened at $128.97 on Thursday. East West Bancorp, Inc. has a 1 year low of $92.67 and a 1 year high of $137.47. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.88 and a quick ratio of 0.88. 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 fifty day moving average of $131.31 and a 200 day moving average of $122.57.

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

East West Bancorp Dividend Announcement

The business also recently declared 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 of this dividend 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 presently 30.77%.

East West Bancorp Company 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.