East West Bancorp, Inc. $EWBC Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. reduced its stake in East West Bancorp by 58.6% in Q2. Other investors adjusted their positions, with US Bancorp DE increasing its stake by 880.7%. Insiders sold shares, impacting stock ownership. East West Bancorp's stock opened at $107.15, with a market cap of $14.74 billion. Analysts expect an EPS of 8.85 for the year, with new price targets set by Citigroup and Barclays.

Prudential Financial Inc. reduced its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 58.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,438 shares of the financial services provider's stock after selling 50,095 shares during the period. Prudential Financial Inc.'s holdings in East West Bancorp were worth $3,579,000 at the end of the most recent reporting period.

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A number of other institutional investors and hedge funds have also made changes to their positions in the stock. US Bancorp DE grew its position in East West Bancorp by 880.7% during the second quarter. US Bancorp DE now owns 21,625 shares of the financial services provider's stock worth $2,184,000 after buying an additional 19,420 shares during the period. Deutsche Bank AG lifted its position in shares of East West Bancorp by 16.5% during the 1st quarter. Deutsche Bank AG now owns 21,516 shares of the financial services provider's stock valued at $1,931,000 after acquiring an additional 3,052 shares during the period. Invesco Ltd. boosted its stake in shares of East West Bancorp by 155.6% during the 1st quarter. Invesco Ltd. now owns 7,714,661 shares of the financial services provider's stock worth $692,468,000 after acquiring an additional 4,696,157 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of East West Bancorp during the 1st quarter worth approximately $2,187,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of East West Bancorp by 7.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,733,102 shares of the financial services provider's stock worth $424,843,000 after acquiring an additional 314,262 shares during the period. 89.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other East West Bancorp news, Director Molly Campbell sold 1,520 shares of the firm's stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $104.73, for a total value of $159,189.60. Following the sale, the director directly owned 7,556 shares of the company's stock, valued at approximately $791,339.88. This trade represents a 16.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of East West Bancorp stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $100.04, for a total value of $1,000,400.00. Following the completion of the sale, the insider owned 45,500 shares of the company's stock, valued at $4,551,820. This trade represents a 18.02% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 22,139 shares of company stock worth $2,301,906. 1.04% of the stock is owned by company insiders.

East West Bancorp Stock Performance

NASDAQ:EWBC opened at $107.15 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $14.74 billion, a PE ratio of 11.81, a P/E/G ratio of 1.19 and a beta of 0.92. The firm has a 50 day simple moving average of $103.34 and a 200-day simple moving average of $102.09. East West Bancorp, Inc. has a 1-year low of $68.27 and a 1-year high of $110.80.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its earnings results on Monday, December 11th. The financial services provider reported $2.08 EPS for the quarter. The firm had revenue of $627.36 million during the quarter. East West Bancorp had a net margin of 27.16% and a return on equity of 15.55%. On average, equities analysts expect that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, November 3rd. East West Bancorp's dividend payout ratio is presently 26.46%.

Analysts Set New Price Targets

Several brokerages recently issued reports on EWBC. Citigroup lifted their price objective on East West Bancorp from $124.00 to $134.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Barclays lifted their price target on East West Bancorp from $140.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 8th. TD Cowen began coverage on shares of East West Bancorp in a research report on Thursday, September 25th. They issued a "buy" rating and a $139.00 price objective on the stock. Cowen initiated coverage on shares of East West Bancorp in a report on Wednesday, September 24th. They set a "buy" rating for the company. Finally, Truist Financial lifted their target price on shares of East West Bancorp from $112.00 to $116.00 and gave the stock a "hold" rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $124.08.

Check Out Our Latest Stock Report on EWBC

East West Bancorp Profile

(Free Report)

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.

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