JPMorgan Chase & Co. Has $29.11 Million Stock Position in East West Bancorp, Inc. (NASDAQ:EWBC)

JPMorgan Chase & Co. lessened its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 8.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 351,782 shares of the financial services provider’s stock after selling 33,413 shares during the quarter. JPMorgan Chase & Co. owned 0.25% of East West Bancorp worth $29,106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EWBC. Capital Performance Advisors LLP acquired a new position in East West Bancorp during the third quarter worth approximately $25,000. Wilmington Savings Fund Society FSB bought a new position in shares of East West Bancorp during the 3rd quarter worth approximately $26,000. Cullen Frost Bankers Inc. acquired a new position in shares of East West Bancorp during the 2nd quarter worth approximately $30,000. UMB Bank n.a. increased its holdings in shares of 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 acquiring an additional 283 shares during the last quarter. Finally, Tobam raised its stake in East West Bancorp by 131.7% in the 3rd quarter. Tobam now owns 482 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 274 shares during the period. 89.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Piper Sandler upped their price target on shares of East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Stephens downgraded East West Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. DA Davidson increased their target price on East West Bancorp from $100.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods upped their price objective on East West Bancorp from $96.00 to $128.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Citigroup increased their price objective on East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, East West Bancorp has an average rating of “Moderate Buy” and a consensus target price of $109.77.

Insider Buying and Selling

In other East West Bancorp news, Director Rudolph Estrada sold 469 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total value of $45,980.76. Following the sale, the director now owns 17,750 shares in the company, valued at approximately $1,740,210. This represents a 2.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $1,279,320.00. Following the sale, 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 disclosure for this sale can be found here. Insiders sold 23,969 shares of company stock worth $2,458,276 in the last 90 days. Insiders own 1.04% of the company’s stock.

East West Bancorp Stock Performance

NASDAQ EWBC opened at $95.56 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.92 and a quick ratio of 0.92. East West Bancorp, Inc. has a 1-year low of $67.27 and a 1-year high of $113.95. The business has a 50 day simple moving average of $101.95 and a two-hundred day simple moving average of $88.66. The stock has a market capitalization of $13.25 billion, a PE ratio of 12.07, a P/E/G ratio of 3.05 and a beta of 1.30.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $2.02 earnings per share. On average, research analysts predict that East West Bancorp, Inc. will post 8.39 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Monday, November 4th. East West Bancorp’s payout ratio is 27.78%.

East West Bancorp 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.