Wedbush Securities Inc. Sells 470 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Wedbush Securities Inc. cut its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 12.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,419 shares of the financial services provider’s stock after selling 470 shares during the quarter. Wedbush Securities Inc.’s holdings in East West Bancorp were worth $265,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Capital International Investors grew its stake in shares of East West Bancorp by 13.5% in the second quarter. Capital International Investors now owns 12,033,194 shares of the financial services provider’s stock valued at $862,692,000 after acquiring an additional 1,434,623 shares in the last quarter. Ardevora Asset Management LLP acquired a new stake in shares of East West Bancorp in the 2nd quarter valued at approximately $58,936,000. FMR LLC boosted its stake in shares of East West Bancorp by 32.4% in the 2nd quarter. FMR LLC now owns 2,987,180 shares of the financial services provider’s stock valued at $214,151,000 after purchasing an additional 731,803 shares in the last quarter. Morgan Stanley boosted its stake in shares of East West Bancorp by 53.2% in the 1st quarter. Morgan Stanley now owns 885,333 shares of the financial services provider’s stock valued at $65,337,000 after purchasing an additional 307,306 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of East West Bancorp by 17.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,969,926 shares of the financial services provider’s stock valued at $141,224,000 after purchasing an additional 287,107 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors.

Shares of EWBC stock opened at $82.94 on Thursday. The firm has a 50 day moving average of $80.46 and a 200-day moving average of $75.58. East West Bancorp, Inc. has a 52 week low of $42.51 and a 52 week high of $87.77. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.07. The company has a market cap of $11.77 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 1.32 and a beta of 1.80.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Wednesday, October 20th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.06. East West Bancorp had a net margin of 44.01% and a return on equity of 15.04%. The business had revenue of $468.82 million during the quarter, compared to the consensus estimate of $459.19 million. During the same quarter last year, the firm posted $1.12 EPS. East West Bancorp’s revenue was up 23.8% compared to the same quarter last year. Analysts anticipate that East West Bancorp, Inc. will post 6.13 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 15th. Investors of record on Monday, November 1st were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Friday, October 29th. East West Bancorp’s payout ratio is currently 23.04%.

EWBC has been the topic of a number of research analyst reports. Truist raised their price target on shares of East West Bancorp from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 13th. They noted that the move was a valuation call. Truist Securities raised their price objective on shares of East West Bancorp from $87.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 13th. Morgan Stanley raised their price objective on shares of East West Bancorp from $99.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 27th. Zacks Investment Research upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Thursday, September 30th. Finally, Wedbush raised their price objective on shares of East West Bancorp from $91.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, October 22nd. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, East West Bancorp currently has an average rating of “Buy” and an average price target of $89.27.

East West Bancorp Company Profile

East West Bancorp, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following business segments: Consumer and Business Banking, Commercial Banking, and Other. The Consumer and Business Banking segment provides financial service products and services to consumer and commercial customers through the company’s branch network in the U.S.

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Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

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