Wedbush Securities Inc. Buys 5,576 Shares of East West Bancorp, Inc. $EWBC

Wedbush Securities Inc. grew its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 62.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,533 shares of the financial services provider’s stock after purchasing an additional 5,576 shares during the quarter. Wedbush Securities Inc.’s holdings in East West Bancorp were worth $1,468,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cerity Partners LLC increased its holdings in East West Bancorp by 35.9% during the first quarter. Cerity Partners LLC now owns 16,157 shares of the financial services provider’s stock worth $1,450,000 after buying an additional 4,271 shares during the last quarter. State of Michigan Retirement System grew its position in shares of East West Bancorp by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 33,222 shares of the financial services provider’s stock valued at $2,982,000 after acquiring an additional 400 shares during the period. Xponance Inc. lifted its stake in East West Bancorp by 1.9% in the 1st quarter. Xponance Inc. now owns 16,141 shares of the financial services provider’s stock valued at $1,449,000 after purchasing an additional 302 shares during the last quarter. Ballentine Partners LLC bought a new position in East West Bancorp during the first quarter worth about $327,000. Finally, Louisiana State Employees Retirement System increased its position in East West Bancorp by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 38,800 shares of the financial services provider’s stock worth $3,483,000 after buying an additional 300 shares during the last quarter. 89.53% of the stock is owned by institutional investors.

East West Bancorp Stock Up 1.7%

Shares of EWBC opened at $103.87 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.89 and a current ratio of 0.89. East West Bancorp, Inc. has a 52 week low of $68.27 and a 52 week high of $113.95. The stock has a market capitalization of $14.32 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.12 and a beta of 0.97. The stock has a fifty day moving average of $104.45 and a 200-day moving average of $100.31.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data 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 for the quarter. East West Bancorp had a return on equity of 15.55% and a net margin of 27.16%. As a group, sell-side analysts anticipate that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $2.40 annualized dividend and a dividend yield of 2.3%. East West Bancorp’s dividend payout ratio is currently 26.46%.

Insiders Place Their Bets

In other East West Bancorp news, Director Jack C. Liu sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $105.00, for a total value of $105,000.00. Following the completion of the transaction, the director directly owned 14,974 shares in the company, valued at approximately $1,572,270. This represents a 6.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gary Teo sold 6,550 shares of the firm’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $106.47, for a total transaction of $697,378.50. Following the transaction, the executive vice president directly owned 12,235 shares of the company’s stock, valued at $1,302,660.45. The trade was a 34.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 42,220 shares of company stock worth $4,446,088 over the last quarter. 1.04% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Weiss Ratings lowered East West Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. Barclays raised their target price on shares of East West Bancorp from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Piper Sandler increased their price target on shares of East West Bancorp from $100.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, September 8th. Cantor Fitzgerald initiated coverage on East West Bancorp in a report on Wednesday, September 10th. They set an “overweight” rating and a $124.00 price objective for the company. Finally, Zacks Research raised East West Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $124.08.

East West Bancorp 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.