Forum Financial Management LP Buys 307 Shares of East West Bancorp, Inc. $EWBC

Forum Financial Management LP lifted its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 8.2% during the second quarter, Holdings Channel reports. The institutional investor owned 4,065 shares of the financial services provider’s stock after acquiring an additional 307 shares during the quarter. Forum Financial Management LP’s holdings in East West Bancorp were worth $410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Beverly Hills Private Wealth LLC grew its position in shares of East West Bancorp by 4.9% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 2,630 shares of the financial services provider’s stock worth $266,000 after buying an additional 122 shares during the period. Applied Finance Capital Management LLC grew its position 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 buying an additional 123 shares during the period. Ransom Advisory Ltd grew its position in shares of East West Bancorp by 60.0% in the 2nd quarter. Ransom Advisory Ltd now owns 400 shares of the financial services provider’s stock worth $40,000 after buying an additional 150 shares during the period. QRG Capital Management Inc. grew its position in shares of East West Bancorp by 5.8% in the 2nd quarter. QRG Capital Management Inc. now owns 2,722 shares of the financial services provider’s stock worth $275,000 after buying an additional 150 shares during the period. Finally, UMB Bank n.a. grew its position in shares of East West Bancorp by 12.7% in the 2nd quarter. UMB Bank n.a. now owns 1,539 shares of the financial services provider’s stock worth $155,000 after buying an additional 173 shares during the period. 89.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Piper Sandler raised their price target on East West Bancorp from $100.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, September 8th. Citigroup lifted their target price on shares of East West Bancorp from $124.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Keefe, Bruyette & Woods increased their price target on shares of East West Bancorp from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Wells Fargo & Company raised their price target on shares of East West Bancorp from $100.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Finally, TD Cowen assumed coverage on East West Bancorp in a research report on Thursday, September 25th. They issued a “buy” rating and a $139.00 price objective on the stock. Ten equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, East West Bancorp has a consensus rating of “Moderate Buy” and an average target price of $123.85.

Insider Transactions at East West Bancorp

In related news, EVP Gary Teo sold 6,550 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $106.47, for a total value of $697,378.50. Following the transaction, the executive vice president owned 12,235 shares of the company’s stock, valued at approximately $1,302,660.45. This trade represents a 34.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Irene H. Oh sold 15,051 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $106.73, for a total transaction of $1,606,393.23. Following the sale, the insider owned 113,353 shares of the company’s stock, valued at $12,098,165.69. This trade represents a 11.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,240 shares of company stock valued at $7,379,678. Company insiders own 1.04% of the company’s stock.

East West Bancorp Price Performance

NASDAQ EWBC opened at $102.52 on Friday. East West Bancorp, Inc. has a one year low of $68.27 and a one year high of $113.95. The stock has a 50-day moving average of $104.96 and a 200 day moving average of $98.27. The company has a market capitalization of $14.13 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.16 and a beta of 0.93. 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 (NASDAQ:EWBC) last released its quarterly earnings data on Monday, December 11th. The financial services provider reported $2.08 EPS for the quarter. East West Bancorp had a return on equity of 15.55% and a net margin of 27.16%.The company had revenue of $627.36 million during the quarter. On average, sell-side analysts forecast that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Dividend Announcement

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

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.