Ferguson Wellman Capital Management Inc. Decreases Stock Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Ferguson Wellman Capital Management Inc. cut its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 173,695 shares of the financial services provider’s stock after selling 2,035 shares during the period. Ferguson Wellman Capital Management Inc. owned about 0.13% of East West Bancorp worth $14,372,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of East West Bancorp in the third quarter valued at about $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of East West Bancorp in the 2nd quarter valued at about $30,000. UMB Bank n.a. grew its holdings in shares of East West Bancorp by 362.8% during the third quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 283 shares during the last quarter. American Capital Advisory LLC acquired a new stake in East West Bancorp in the second quarter worth $31,000. Finally, Signaturefd LLC lifted its position in East West Bancorp by 490.1% in the 2nd quarter. Signaturefd LLC now owns 537 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 446 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Stock Performance

Shares of NASDAQ:EWBC traded up $0.12 during trading on Thursday, hitting $103.96. 16,005 shares of the stock were exchanged, compared to its average volume of 931,584. The company has a market capitalization of $14.41 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 3.11 and a beta of 1.27. 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 1-year low of $60.26 and a 1-year high of $107.68. The company’s fifty day simple moving average is $88.31 and its 200-day simple moving average is $80.94.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $641.80 million. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. During the same quarter in the prior year, the company posted $2.02 EPS. Sell-side analysts expect that East West Bancorp, Inc. will post 8.34 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.20 annualized dividend and a dividend yield of 2.12%. East West Bancorp’s dividend payout ratio is currently 27.78%.

Analyst Ratings Changes

EWBC has been the subject of a number of research reports. Truist Financial increased their price target on East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Morgan Stanley boosted their target price on shares of East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Citigroup increased their price target on shares of East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com raised East West Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Piper Sandler increased their price target on shares of East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, East West Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $102.25.

Insider Transactions at East West Bancorp

In related news, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was 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 of the company’s stock, valued at $1,382,509.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Rudolph Estrada sold 469 shares of East West Bancorp stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $98.04, for a total value of $45,980.76. Following the completion of the transaction, the director now owns 17,750 shares in the company, valued at approximately $1,740,210. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jack C. Liu sold 2,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 25,969 shares of company stock valued at $2,625,276. Corporate 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.