East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by Phillips Wealth Planners LLC

Phillips Wealth Planners LLC reduced its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 5.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,143 shares of the financial services provider’s stock after selling 221 shares during the period. Phillips Wealth Planners LLC’s holdings in East West Bancorp were worth $380,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of EWBC. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of East West Bancorp during the 1st quarter valued at approximately $3,961,000. Manning & Napier Advisors LLC purchased a new stake in East West Bancorp in the 2nd quarter valued at about $3,832,000. Inspire Investing LLC lifted its position in East West Bancorp by 197.8% in the first quarter. Inspire Investing LLC now owns 15,860 shares of the financial services provider’s stock valued at $1,255,000 after buying an additional 10,535 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in East West Bancorp during the first quarter worth about $909,000. Finally, SG Americas Securities LLC acquired a new stake in shares of East West Bancorp during the second quarter valued at about $852,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at East West Bancorp

In other news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total transaction of $167,000.00. Following the completion of the sale, the director now directly owns 16,557 shares in the company, valued at approximately $1,382,509.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Irene H. Oh sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $98.50, for a total transaction of $985,000.00. Following the completion of the sale, the insider now directly owns 117,193 shares in the company, valued at $11,543,510.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,500 shares of company stock valued at $1,299,975. Corporate insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EWBC. Compass Point increased their price objective on shares of East West Bancorp from $93.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Wedbush increased their target price on East West Bancorp from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. DA Davidson boosted their price target on shares of East West Bancorp from $100.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup increased their price target on shares of East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $99.46.

East West Bancorp Stock Down 0.1 %

East West Bancorp stock opened at $97.35 on Friday. The stock has a 50 day moving average of $85.59 and a two-hundred day moving average of $79.46. East West Bancorp, Inc. has a twelve month low of $54.23 and a twelve month high of $101.31. The stock has a market capitalization of $13.49 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 2.89 and a beta of 1.29. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.03. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $641.80 million. During the same quarter in the prior year, the business posted $2.02 earnings per share. As a group, research analysts expect that East West Bancorp, Inc. will post 8.31 earnings per share for the current year.

East West Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.20 annualized dividend and a yield of 2.26%. East West Bancorp’s payout ratio is currently 27.78%.

About East West Bancorp

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.