East West Bancorp, Inc. (NASDAQ:EWBC) Position Boosted by Franklin Resources Inc.

Franklin Resources Inc. increased its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 21.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,552 shares of the financial services provider’s stock after purchasing an additional 7,645 shares during the quarter. Franklin Resources Inc.’s holdings in East West Bancorp were worth $3,800,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of East West Bancorp during the 3rd quarter valued at $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of East West Bancorp during the third quarter valued at $26,000. Cullen Frost Bankers Inc. acquired a new position in shares of East West Bancorp in the 2nd quarter valued at $30,000. UMB Bank n.a. increased its stake in East West Bancorp by 362.8% in the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 283 shares in the last quarter. Finally, American Capital Advisory LLC purchased a new position in East West Bancorp in the 2nd quarter worth about $31,000. 89.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Irene H. Oh sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $98.50, for a total value of $985,000.00. Following the completion of the sale, the insider now directly owns 117,193 shares of the company’s stock, valued at approximately $11,543,510.50. This represents a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the business’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 transaction, the insider now directly owns 45,403 shares in the company, valued at $4,840,413.83. This trade represents a 20.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,969 shares of company stock valued at $2,458,276. Company insiders own 1.04% of the company’s stock.

East West Bancorp Trading Up 0.4 %

Shares of NASDAQ:EWBC opened at $96.65 on Wednesday. East West Bancorp, Inc. has a 1 year low of $67.27 and a 1 year high of $113.95. The firm has a fifty day moving average price of $101.37 and a 200 day moving average price of $86.87. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $13.40 billion, a PE ratio of 12.20, a P/E/G ratio of 3.05 and a beta of 1.28.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. During the same quarter in the prior year, the firm posted $2.02 EPS. Analysts expect that East West Bancorp, Inc. will post 8.39 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Monday, November 4th. East West Bancorp’s payout ratio is 27.78%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Compass Point lifted their target price on shares of East West Bancorp from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods boosted their target price on shares of East West Bancorp from $96.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Stephens lowered East West Bancorp from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. Piper Sandler upped their price target on East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Citigroup lifted their target price on East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.77.

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.