Stocks

Janney Montgomery Scott LLC Reduces Holdings in East West Bancorp, Inc.

Published February 2, 2025

According to the latest 13F filing with the Securities and Exchange Commission (SEC), Janney Montgomery Scott LLC has trimmed its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 23.5% during the fourth quarter. This means that the institutional investor now owns 22,633 shares of the financial services provider after selling 6,954 shares in that quarter. As per the filing, Janney Montgomery Scott LLC's investment in East West Bancorp is valued at approximately $2,167,000.

East West Bancorp Alerts:

Other institutional investors have also made adjustments to their positions in East West Bancorp. For instance, Capital Performance Advisors LLP purchased a new position in the company in the third quarter worth around $25,000, while Wilmington Savings Fund Society FSB bought shares valued at $26,000. Furthermore, UMB Bank n.a. increased its holdings in East West Bancorp by 362.8%, now owning 361 shares valued at $30,000 after acquiring an additional 283 shares. Similarly, Tobam increased its stake by 131.7%, owning 482 shares worth $40,000 post acquisition. In total, approximately 89.53% of East West Bancorp's stock is owned by various hedge funds and institutional investors.

Analysts Update Their Price Targets

Multiple research analysts have recently updated their views on East West Bancorp's stock. Piper Sandler has cut its target price from $100.00 to $97.00, giving it a "neutral" rating in a report dated January 27. Conversely, Wedbush raised its price target from $100.00 to $110.00, labeling the stock as "outperform" on October 23. Additionally, DA Davidson has lowered its price objective from $120.00 to $118.00 while maintaining a "buy" rating. Wells Fargo also raised its target from $105.00 to $120.00, categorizing the stock as "overweight" as of December 3. Truist Financial set a new target of $101.00 after increasing it from $93.00 in their report on October 23. Currently, one analyst rates the stock as a sell, three suggest holding, and ten analysts recommend buying it. According to MarketBeat.com, East West Bancorp holds an average rating of "Moderate Buy" and a consensus price target of $110.38.

Latest Stock Report on East West Bancorp

Stock Performance

As of Friday, EWBC shares opened at $102.97. Over the past year, East West Bancorp has experienced a low of $67.27 and a high of $113.95. With a market capitalization of $14.27 billion, the stock has a P/E ratio of 12.36 and a P/E/G ratio of 1.38, accompanied by a beta of 1.30. The current 50-day moving average stands at $101.02, while the 200-day moving average is $92.12. Other financial ratios include a current ratio of 0.91, a quick ratio of 0.92, and a debt-to-equity ratio of 0.46.

Dividend Announcement

Recently, East West Bancorp declared a quarterly dividend, scheduled to be paid on February 17. Shareholders on record as of February 3 will receive a dividend of $0.60 per share, which amounts to an annualized dividend of $2.40 and a dividend yield of 2.33%. This marks an increase from the previous quarterly dividend of $0.55. The ex-dividend date is also set for February 3. The payout ratio for East West Bancorp stands at 26.41%.

Insider Selling Activity

In related news, Director Jack C. Liu sold 725 shares of East West Bancorp stock on January 28 at an average price of $104.50, totaling around $75,762.50. After this transaction, he holds approximately 15,832 shares valued at $1,654,444, reflecting a 4.38% decrease in his position. This transaction was reported to the SEC. Additionally, Vice Chairman Douglas Paul Krause sold 12,000 shares on November 12 at an average price of $106.61, worth a total of $1,279,320.00. After this sale, he retains 45,403 shares valued at about $4,840,413.83, indicating a 20.90% decline in ownership. In the last three months, insiders have sold a total of 14,469 shares valued at $1,534,339, with company insiders holding about 1.04% of the stock.

Company Overview

East West Bancorp, Inc operates as the bank holding company for East West Bank, providing a variety of personal and commercial banking services to both individuals and businesses in the United States. The company is divided into three segments: Consumer and Business Banking, Commercial Banking, and Other.