Aware Super Pty Ltd as trustee of Aware Super purchased a new position in East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 57,399 shares of the financial services provider’s stock, valued at approximately $6,128,000.
A number of other hedge funds have also recently made changes to their positions in the business. Atlantic Union Bankshares Corp purchased a new position in shares of East West Bancorp in the fourth quarter valued at about $31,000. Kelleher Financial Advisors bought a new stake in East West Bancorp in the third quarter worth $31,000. Signaturefd LLC boosted its holdings in East West Bancorp by 115.0% in the fourth quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 184 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of East West Bancorp by 44.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 113 shares during the last quarter. Finally, Quarry LP increased its stake in East West Bancorp by 35.4% during the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 102 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors.
East West Bancorp Stock Performance
Shares of EWBC stock opened at $134.52 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $18.43 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.57 and a beta of 0.94. The firm’s 50 day moving average price is $127.00 and its 200-day moving average price is $118.89. East West Bancorp, Inc. has a one year low of $92.67 and a one year high of $136.24.
East West Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 4th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, May 4th. East West Bancorp’s payout ratio is presently 31.97%.
Insider Transactions at East West Bancorp
In other news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $123.50, for a total value of $1,235,000.00. Following the completion of the sale, the insider directly owned 46,974 shares of the company’s stock, valued at approximately $5,801,289. This represents a 17.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Archana Deskus sold 1,800 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $125.55, for a total value of $225,990.00. Following the sale, the director directly owned 13,231 shares of the company’s stock, valued at approximately $1,661,152.05. This represents a 11.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 54,311 shares of company stock valued at $6,784,711 in the last 90 days. Company insiders own 0.94% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently commented on EWBC shares. Morgan Stanley boosted their target price on East West Bancorp from $128.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Barclays lifted their price objective on East West Bancorp from $142.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. DA Davidson upped their price target on East West Bancorp from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Piper Sandler raised their target price on shares of East West Bancorp from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Finally, TD Cowen raised their price target on East West Bancorp from $137.00 to $143.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $138.31.
Check Out Our Latest Analysis on EWBC
East West Bancorp Company Profile
East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.
Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.
Further Reading
- Five stocks we like better than East West Bancorp
- AST SpaceMobile Stock Sinks as SpaceX Fallout Rattles Space Sector
- Aehr Test Systems Stock Soars on Earnings, Eyes Over 150% Revenue Growth
- TSMC Just Gave AI Chip Bulls Another Reason to Stay Confident
- GE Aerospace Faces a Prove-It Moment in Q2 Earnings
Want to see what other hedge funds are holding EWBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for East West Bancorp, Inc. (NASDAQ:EWBC – Free Report).
Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.
