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Crossmark Global Holdings Inc. increased its stake in East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) by 3.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,171 shares of the financial services provider’s stock after purchasing an additional 336 shares during the period. Crossmark Global Holdings Inc.’s holdings in East West Bancorp were worth $974,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of East West Bancorp during the third quarter worth $25,000. Wilmington Savings Fund Society FSB purchased a new position in East West Bancorp in the 3rd quarter worth $26,000. UMB Bank n.a. lifted its position in 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 period. Tobam grew its stake in East West Bancorp by 131.7% during the 3rd quarter. Tobam now owns 482 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 274 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. purchased a new stake in East West Bancorp during the 3rd quarter valued at about $79,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.
East West Bancorp Price Performance
East West Bancorp stock opened at $102.93 on Friday. The stock has a market capitalization of $14.27 billion, a P/E ratio of 13.00, a P/E/G ratio of 2.85 and a beta of 1.30. The company’s fifty day moving average price is $101.30 and its 200 day moving average price is $91.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92. East West Bancorp, Inc. has a 1 year low of $67.27 and a 1 year high of $113.95.
East West Bancorp (NASDAQ:EWBC – Get Free Report) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the business earned $2.02 earnings per share. As a group, equities research analysts anticipate that East West Bancorp, Inc. will post 8.38 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on EWBC shares. Piper Sandler lifted their target price on East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Citigroup lifted their price objective on shares of East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. UBS Group began coverage on shares of East West Bancorp in a report on Tuesday, December 17th. They set a “neutral” rating and a $112.00 target price for the company. Morgan Stanley upped their price target on shares of East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Truist Financial lifted their price objective on East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, East West Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $110.23.
View Our Latest Stock Report on East West Bancorp
Insider Activity at East West Bancorp
In other East West Bancorp news, insider Irene H. Oh sold 10,000 shares of East West Bancorp stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $98.50, for a total transaction of $985,000.00. Following the sale, the insider now owns 117,193 shares of the company’s stock, valued at $11,543,510.50. The trade was a 7.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the sale, the insider now directly owns 45,403 shares of the company’s stock, valued at $4,840,413.83. The trade was a 20.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,969 shares of company stock valued at $2,458,276. 1.04% of the stock is owned by corporate insiders.
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.
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