Jennison Associates LLC Has $66.64 Million Stock Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Jennison Associates LLC increased its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 10.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 926,208 shares of the financial services provider’s stock after purchasing an additional 88,224 shares during the quarter. Jennison Associates LLC owned approximately 0.66% of East West Bancorp worth $66,641,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in shares of East West Bancorp by 40,757.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 103,370 shares of the financial services provider’s stock worth $7,437,000 after buying an additional 103,117 shares during the period. Federated Hermes Inc. grew its position in shares of East West Bancorp by 5.0% during the 3rd quarter. Federated Hermes Inc. now owns 31,667 shares of the financial services provider’s stock worth $1,669,000 after buying an additional 1,501 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of East West Bancorp by 92.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 48,562 shares of the financial services provider’s stock worth $2,560,000 after buying an additional 23,361 shares during the period. Vanguard Group Inc. grew its position in shares of East West Bancorp by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 15,243,818 shares of the financial services provider’s stock worth $803,502,000 after buying an additional 215,281 shares during the period. Finally, Trillium Asset Management LLC grew its position in shares of East West Bancorp by 12.2% during the 3rd quarter. Trillium Asset Management LLC now owns 279,179 shares of the financial services provider’s stock worth $14,715,000 after buying an additional 30,466 shares during the period. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, Director Molly Campbell sold 1,625 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total value of $125,547.50. Following the sale, the director now owns 10,321 shares in the company, valued at approximately $797,400.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Molly Campbell sold 1,625 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total transaction of $125,547.50. Following the sale, the director now owns 10,321 shares in the company, valued at approximately $797,400.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total value of $147,160.00. Following the sale, the director now owns 16,739 shares in the company, valued at approximately $1,231,655.62. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wedbush restated an “outperform” rating and set a $86.00 target price on shares of East West Bancorp in a research report on Wednesday, January 24th. Barclays assumed coverage on East West Bancorp in a research report on Friday, March 8th. They set an “overweight” rating and a $106.00 target price for the company. Piper Sandler boosted their price objective on East West Bancorp from $72.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Citigroup boosted their price objective on East West Bancorp from $85.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Finally, Jefferies Financial Group boosted their price objective on East West Bancorp from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, East West Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.42.

East West Bancorp Trading Up 2.2 %

NASDAQ EWBC opened at $74.47 on Tuesday. The stock has a market capitalization of $10.36 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 0.93 and a beta of 1.39. The stock’s 50 day moving average price is $74.46 and its two-hundred day moving average price is $68.11. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 0.91. East West Bancorp, Inc. has a 52 week low of $41.12 and a 52 week high of $79.54.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. The firm had revenue of $654.70 million for the quarter, compared to analysts’ expectations of $641.91 million. East West Bancorp had a return on equity of 18.47% and a net margin of 29.11%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.37 EPS. As a group, analysts anticipate that East West Bancorp, Inc. will post 7.87 earnings per share for the current fiscal year.

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.