Amalgamated Bank Sells 8,873 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Amalgamated Bank cut its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 9.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 86,997 shares of the financial services provider’s stock after selling 8,873 shares during the period. Amalgamated Bank owned 0.06% of East West Bancorp worth $6,371,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Janney Montgomery Scott LLC increased its stake in shares of East West Bancorp by 7.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 15,923 shares of the financial services provider’s stock worth $1,146,000 after purchasing an additional 1,137 shares in the last quarter. Beacon Pointe Advisors LLC purchased a new stake in East West Bancorp in the fourth quarter worth about $416,000. Independent Advisor Alliance bought a new position in shares of East West Bancorp in the fourth quarter worth about $204,000. Norges Bank bought a new position in shares of East West Bancorp in the fourth quarter worth about $115,369,000. Finally, Coldstream Capital Management Inc. lifted its position in shares of East West Bancorp by 55.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 7,828 shares of the financial services provider’s stock valued at $563,000 after buying an additional 2,805 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Insider Transactions at East West Bancorp

In related news, Director Jack C. Liu sold 2,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the sale, the director now directly owns 16,557 shares of the company’s stock, valued at approximately $1,382,509.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Jack C. Liu sold 2,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total value of $167,000.00. Following the sale, the director now directly owns 16,557 shares in the company, valued at $1,382,509.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gary Teo sold 3,450 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.73, for a total value of $302,668.50. Following the sale, the executive vice president now directly owns 15,875 shares of the company’s stock, valued at $1,392,713.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,346 shares of company stock worth $1,108,160. 1.04% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on EWBC. Morgan Stanley raised their target price on shares of East West Bancorp from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Truist Financial raised their price objective on shares of East West Bancorp from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Barclays dropped their target price on shares of East West Bancorp from $106.00 to $105.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Jefferies Financial Group decreased their price target on East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Finally, Stephens upped their price objective on East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, East West Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $89.53.

East West Bancorp Stock Up 2.4 %

Shares of NASDAQ:EWBC opened at $83.22 on Friday. The company has a market cap of $11.58 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 2.65 and a beta of 1.29. East West Bancorp, Inc. has a 12 month low of $49.59 and a 12 month high of $89.75. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $81.23 and a 200 day moving average price of $76.82.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.10. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The firm had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $631.61 million. During the same quarter in the previous year, the business earned $2.20 EPS. The company’s quarterly revenue was down .9% on a year-over-year basis. As a group, equities research analysts predict that East West Bancorp, Inc. will post 8.2 earnings per share for the current year.

East West Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, August 2nd. East West Bancorp’s dividend payout ratio is currently 27.71%.

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.