Allspring Global Investments Holdings LLC Reduces Stock Holdings in East West Bancorp, Inc. $EWBC

Allspring Global Investments Holdings LLC decreased its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 34.3% in the second quarter, Holdings Channel.com reports. The firm owned 70,753 shares of the financial services provider’s stock after selling 36,963 shares during the period. Allspring Global Investments Holdings LLC’s holdings in East West Bancorp were worth $7,416,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Applied Finance Capital Management LLC boosted its holdings in shares of East West Bancorp by 3.7% in the 1st quarter. Applied Finance Capital Management LLC now owns 3,444 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 123 shares during the period. Ransom Advisory Ltd lifted its stake in shares of East West Bancorp by 60.0% during the 2nd quarter. Ransom Advisory Ltd now owns 400 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 150 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of East West Bancorp by 5.8% during the 2nd quarter. QRG Capital Management Inc. now owns 2,722 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 150 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of East West Bancorp by 12.7% during the 2nd quarter. UMB Bank n.a. now owns 1,539 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 173 shares during the last quarter. Finally, Crumly & Associates Inc. lifted its stake in shares of East West Bancorp by 1.9% during the 1st quarter. Crumly & Associates Inc. now owns 9,229 shares of the financial services provider’s stock worth $828,000 after acquiring an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Insider Buying and Selling

In related news, Director Jack C. Liu sold 1,000 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $105.00, for a total transaction of $105,000.00. Following the transaction, the director directly owned 14,974 shares in the company, valued at $1,572,270. The trade was a 6.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dominic Ng sold 40,000 shares of the business’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $103.38, for a total value of $4,135,200.00. Following the transaction, the chief executive officer owned 888,314 shares in the company, valued at approximately $91,833,901.32. This trade represents a 4.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,240 shares of company stock valued at $7,379,678. 1.04% of the stock is owned by insiders.

East West Bancorp Trading Up 1.8%

Shares of NASDAQ EWBC opened at $95.98 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $105.04 and a two-hundred day simple moving average of $97.44. The firm has a market cap of $13.23 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 1.31 and a beta of 0.93. East West Bancorp, Inc. has a twelve month low of $68.27 and a twelve month high of $113.95.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Monday, December 11th. The financial services provider reported $2.08 earnings per share for the quarter. The business had revenue of $627.36 million during the quarter. East West Bancorp had a return on equity of 15.09% and a net margin of 26.06%. Analysts expect that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 4th were issued a $0.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. East West Bancorp’s dividend payout ratio (DPR) is currently 28.04%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. TD Cowen assumed coverage on East West Bancorp in a research note on Thursday, September 25th. They set a “buy” rating and a $139.00 price target for the company. Piper Sandler raised their price target on East West Bancorp from $100.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, September 8th. Morgan Stanley raised their price target on East West Bancorp from $111.00 to $126.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of East West Bancorp in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald began coverage on East West Bancorp in a research report on Wednesday, September 10th. They set an “overweight” rating and a $124.00 target price for the company. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.33.

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.