De Lisle Partners LLP purchased a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) in the 2nd quarter, HoldingsChannel reports. The firm purchased 27,800 shares of the financial services provider’s stock, valued at approximately $3,588,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of EWBC. Geode Capital Management LLC increased its stake in East West Bancorp by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,825,161 shares of the financial services provider’s stock worth $319,523,000 after purchasing an additional 27,402 shares during the period. Whittier Trust Co. grew its holdings in shares of East West Bancorp by 8.3% in the first quarter. Whittier Trust Co. now owns 264,173 shares of the financial services provider’s stock worth $29,046,000 after purchasing an additional 20,264 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of East West Bancorp by 84,090.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider’s stock worth $596,967,000 after buying an additional 5,305,257 shares during the period. Mach 1 Financial Group LLC purchased a new position in shares of East West Bancorp in the fourth quarter worth $1,044,000. Finally, Jackson Creek Investment Advisors LLC bought a new stake in East West Bancorp during the 4th quarter valued at $1,516,000. 89.53% of the stock is owned by institutional investors.
East West Bancorp Trading Up 0.1%
NASDAQ:EWBC opened at $129.97 on Friday. The company has a 50-day moving average price of $131.37 and a 200-day moving average price of $121.97. The stock has a market cap of $17.81 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 1.51 and a beta of 0.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.33. East West Bancorp, Inc. has a 12 month low of $92.67 and a 12 month high of $137.47.
East West Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were given a $0.80 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. East West Bancorp’s dividend payout ratio is currently 30.77%.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on EWBC. Citigroup reissued a “buy” rating on shares of East West Bancorp in a research report on Thursday, July 23rd. Wall Street Zen upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Barclays boosted their price target on East West Bancorp from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Stephens upped their price target on East West Bancorp from $129.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. Finally, Piper Sandler increased their price objective on East West Bancorp from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.92.
View Our Latest Report on EWBC
Insider Transactions at East West Bancorp
In related news, Director Jack C. Liu sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $135.02, for a total value of $135,020.00. Following the sale, the director directly owned 13,709 shares of the company’s stock, valued at $1,850,989.18. This represents a 6.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Irene H. Oh sold 11,211 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $129.00, for a total value of $1,446,219.00. Following the completion of the transaction, the insider owned 85,998 shares of the company’s stock, valued at approximately $11,093,742. This trade represents a 11.53% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 33,511 shares of company stock valued at $4,312,741. Corporate insiders own 0.94% of the company’s stock.
East West Bancorp 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.
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