NewEdge Advisors LLC Has $2.05 Million Stake in East West Bancorp, Inc. $EWBC

NewEdge Advisors LLC lowered its position in shares of East West Bancorp, Inc. (NASDAQ:EWBCFree Report) by 20.0% during the first quarter, Holdings Channel.com reports. The firm owned 19,227 shares of the financial services provider’s stock after selling 4,802 shares during the quarter. NewEdge Advisors LLC’s holdings in East West Bancorp were worth $2,053,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in EWBC. Atlantic Union Bankshares Corp bought a new stake in East West Bancorp in the 4th quarter valued at $31,000. Kelleher Financial Advisors bought a new position in East West Bancorp during the 3rd quarter worth $31,000. Wilmington Savings Fund Society FSB lifted its holdings in shares of East West Bancorp by 44.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock worth $39,000 after buying an additional 113 shares in the last quarter. Quarry LP lifted its holdings in shares of East West Bancorp by 35.4% during the third quarter. Quarry LP now owns 390 shares of the financial services provider’s stock worth $42,000 after buying an additional 102 shares in the last quarter. Finally, BOK Financial Private Wealth Inc. bought a new stake in shares of East West Bancorp in the fourth quarter valued at about $51,000. 89.53% of the stock is owned by institutional investors and hedge funds.

East West Bancorp Stock Performance

EWBC opened at $136.60 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 0.88. East West Bancorp, Inc. has a 52-week low of $92.67 and a 52-week high of $137.30. The firm has a market cap of $18.72 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 1.57 and a beta of 0.94. The business’s fifty day moving average is $131.07 and its 200-day moving average is $121.33.

East West Bancorp (NASDAQ:EWBCGet Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.02. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The business had revenue of $789.98 million during the quarter, compared to the consensus estimate of $784.47 million. During the same quarter in the previous year, the firm earned $2.24 earnings per share. East West Bancorp’s revenue for the quarter was up 12.5% compared to the same quarter last year. Sell-side analysts expect that East West Bancorp, Inc. will post 10.61 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, August 3rd. East West Bancorp’s dividend payout ratio (DPR) is currently 30.77%.

Insider Activity

In related news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $123.50, for a total transaction of $1,235,000.00. Following the sale, the insider owned 46,974 shares in the company, valued at approximately $5,801,289. This trade represents a 17.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jack C. Liu sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $135.02, for a total transaction of $135,020.00. Following the sale, the director owned 13,709 shares in the company, valued at $1,850,989.18. This represents a 6.80% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 33,511 shares of company stock worth $4,312,741. 0.94% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

EWBC has been the topic of several research reports. Wells Fargo & Company initiated coverage on shares of East West Bancorp in a research note on Monday. They issued an “overweight” rating and a $155.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 target price on shares of East West Bancorp in a research report on Wednesday, July 22nd. TD Cowen raised their target price on shares of East West Bancorp from $137.00 to $143.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Wall Street Zen upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, UBS Group boosted their price target on East West Bancorp from $125.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.77.

Read Our Latest Analysis on EWBC

East West Bancorp Profile

(Free Report)

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

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Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

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