Mutual of America Capital Management LLC Raises Stock Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Mutual of America Capital Management LLC boosted its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 117,699 shares of the financial services provider’s stock after purchasing an additional 349 shares during the period. Mutual of America Capital Management LLC owned about 0.08% of East West Bancorp worth $9,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of East West Bancorp in the third quarter worth about $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of East West Bancorp in the second quarter worth $30,000. UMB Bank n.a. raised its stake in shares of East West Bancorp by 362.8% in the third quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 283 shares in the last quarter. American Capital Advisory LLC purchased a new position in East West Bancorp in the second quarter valued at $31,000. Finally, Signaturefd LLC boosted its holdings in East West Bancorp by 490.1% in the second quarter. Signaturefd LLC now owns 537 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 446 shares during the period. 89.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at East West Bancorp

In other 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 transaction of $45,980.76. Following the completion of the sale, the director now owns 17,750 shares in the company, valued at $1,740,210. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jack C. Liu sold 2,000 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $1,382,509.50. This represents a 10.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,969 shares of company stock worth $2,625,276. Company insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EWBC shares. Wedbush increased their price target on East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Truist Financial raised their target price on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Stephens boosted their price target on shares of East West Bancorp from $91.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Citigroup raised their price objective on shares of East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley lifted their price objective on shares of East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, East West Bancorp has an average rating of “Moderate Buy” and a consensus price target of $102.25.

East West Bancorp Trading Down 0.2 %

NASDAQ:EWBC opened at $103.34 on Monday. The company has a market capitalization of $14.33 billion, a PE ratio of 13.05, a P/E/G ratio of 3.01 and a beta of 1.27. East West Bancorp, Inc. has a 52-week low of $60.34 and a 52-week high of $107.68. The stock’s 50 day moving average price is $89.70 and its 200 day moving average price is $81.49. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. During the same period last year, the firm posted $2.02 earnings per share. On average, research analysts anticipate that East West Bancorp, Inc. will post 8.36 EPS for the current year.

East West Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a $0.55 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.13%. East West Bancorp’s payout ratio is 27.78%.

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.