Jennison Associates LLC Purchases 88,224 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Jennison Associates LLC raised its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 926,208 shares of the financial services provider’s stock after purchasing an additional 88,224 shares during the quarter. Jennison Associates LLC’s holdings in East West Bancorp were worth $66,641,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its position in shares of East West Bancorp by 65.1% during the third quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 211 shares during the last quarter. Denali Advisors LLC raised its position in shares of East West Bancorp by 66.7% during the fourth quarter. Denali Advisors LLC now owns 500 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 200 shares during the last quarter. Planned Solutions Inc. acquired a new stake in East West Bancorp during the fourth quarter worth approximately $40,000. Global Retirement Partners LLC grew its stake in East West Bancorp by 1,050.0% during the fourth quarter. Global Retirement Partners LLC now owns 667 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 609 shares during the period. Finally, CWM LLC grew its stake in East West Bancorp by 22.8% during the third quarter. CWM LLC now owns 1,825 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 339 shares during the period. 89.53% of the stock is currently owned by institutional investors.

Insider Activity at East West Bancorp

In related news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total transaction of $147,160.00. Following the transaction, the director now owns 16,739 shares of the company’s stock, valued at $1,231,655.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total transaction of $147,160.00. Following the transaction, the director now owns 16,739 shares of the company’s stock, valued at $1,231,655.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Molly Campbell sold 1,625 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the transaction, the director now directly owns 10,321 shares in the company, valued at approximately $797,400.46. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

East West Bancorp Trading Up 2.2 %

Shares of East West Bancorp stock opened at $74.47 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 0.91. East West Bancorp, Inc. has a 52 week low of $41.12 and a 52 week high of $79.54. The stock has a 50 day moving average price of $74.46 and a two-hundred day moving average price of $68.11. The stock has a market capitalization of $10.36 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 0.93 and a beta of 1.39.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.13. The company had revenue of $654.70 million for the quarter, compared to analysts’ expectations of $641.91 million. East West Bancorp had a return on equity of 18.47% and a net margin of 29.11%. East West Bancorp’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.37 earnings per share. As a group, equities analysts anticipate that East West Bancorp, Inc. will post 7.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Truist Financial raised their target price on East West Bancorp from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Piper Sandler raised their target price on East West Bancorp from $72.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Compass Point raised their target price on East West Bancorp from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Citigroup raised their target price on East West Bancorp from $85.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Finally, Wedbush reissued an “outperform” rating and issued a $86.00 price objective on shares of East West Bancorp in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, East West Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.42.

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.