Strategic Global Advisors LLC Invests $4.44 Million in East West Bancorp, Inc. $EWBC

Strategic Global Advisors LLC bought a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 39,494 shares of the financial services provider’s stock, valued at approximately $4,439,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of East West Bancorp during the third quarter worth about $26,000. Atlantic Union Bankshares Corp acquired a new stake in shares of East West Bancorp during the fourth quarter worth about $31,000. Kelleher Financial Advisors acquired a new stake in shares of East West Bancorp during the third quarter worth about $31,000. Signaturefd LLC increased its position in shares of East West Bancorp by 115.0% during the fourth quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 184 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its position 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 purchasing an additional 113 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

Insiders Place Their Bets

In other East West Bancorp news, insider Irene H. Oh sold 500 shares of East West Bancorp stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $132.50, for a total value of $66,250.00. Following the sale, the insider owned 85,498 shares of the company’s stock, valued at approximately $11,328,485. The trade was a 0.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dominic Ng sold 30,000 shares of East West Bancorp stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $123.49, for a total value of $3,704,700.00. Following the completion of the sale, the chief executive officer directly owned 707,930 shares in the company, valued at $87,422,275.70. This represents a 4.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 53,511 shares of company stock worth $6,678,159 over the last quarter. 0.94% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. DA Davidson lifted their target price on East West Bancorp from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Truist Financial raised their price target on East West Bancorp from $120.00 to $128.00 and gave the stock a “hold” rating in a report on Thursday, April 23rd. 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 report on Thursday, April 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $133.00 price target on shares of East West Bancorp in a report on Wednesday, April 22nd. Finally, UBS Group raised their price target on East West Bancorp from $125.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.69.

East West Bancorp Stock Performance

NASDAQ EWBC opened at $132.63 on Monday. East West Bancorp, Inc. has a 52-week low of $90.79 and a 52-week high of $132.88. The business’s 50-day moving average price is $121.33 and its 200 day moving average price is $115.67. The firm has a market cap of $18.17 billion, a P/E ratio of 13.25, a P/E/G ratio of 1.63 and a beta of 0.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.11. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The company had revenue of $773.75 million for the quarter, compared to analyst estimates of $767.80 million. During the same quarter in the previous year, the company earned $2.08 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities research analysts expect that East West Bancorp, Inc. will post 10.6 earnings per share for the current year.

East West Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 4th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, May 4th. East West Bancorp’s payout ratio is currently 31.97%.

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.