East West Bancorp, Inc. (NASDAQ:EWBC) Stock Holdings Lowered by Perpetual Ltd

Perpetual Ltd trimmed its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 49.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,423 shares of the financial services provider’s stock after selling 5,231 shares during the period. Perpetual Ltd’s holdings in East West Bancorp were worth $519,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of East West Bancorp during the 3rd quarter worth $25,000. Wilmington Savings Fund Society FSB acquired a new position in East West Bancorp in the 3rd quarter worth approximately $26,000. UMB Bank n.a. grew its position in East West Bancorp by 362.8% during the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 283 shares in the last quarter. Tobam raised its stake in East West Bancorp by 131.7% during the 3rd quarter. Tobam now owns 482 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 274 shares during the period. Finally, Transamerica Financial Advisors Inc. purchased a new stake in shares of East West Bancorp in the third quarter valued at $79,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

East West Bancorp Stock Performance

NASDAQ EWBC opened at $102.75 on Thursday. The company’s fifty day moving average is $101.33 and its two-hundred day moving average is $90.65. East West Bancorp, Inc. has a 52-week low of $67.27 and a 52-week high of $113.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $14.24 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 2.80 and a beta of 1.30.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The business 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 16.07% and a net margin of 24.96%. During the same period last year, the business earned $2.02 earnings per share. Equities research analysts forecast that East West Bancorp, Inc. will post 8.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Compass Point lifted their price target on East West Bancorp from $110.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Piper Sandler upped their target price on East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised their price target on shares of East West Bancorp from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. StockNews.com upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Truist Financial lifted their target price on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $109.77.

Insiders Place Their Bets

In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the completion of the transaction, the insider now owns 45,403 shares in the company, valued at $4,840,413.83. This trade represents a 20.90 % 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 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 sale, the director now directly owns 17,750 shares in the company, valued at $1,740,210. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,969 shares of company stock worth $2,458,276. 1.04% of the stock is currently owned by company insiders.

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.