6,242 Shares in East West Bancorp, Inc. $EWBC Bought by West Family Investments Inc.

West Family Investments Inc. acquired a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,242 shares of the financial services provider’s stock, valued at approximately $806,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Atlantic Union Bankshares Corp bought a new position in East West Bancorp in the 4th quarter worth about $31,000. Kelleher Financial Advisors bought a new stake in shares of East West Bancorp during the 3rd quarter valued at about $31,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of East West Bancorp during the second quarter worth about $37,000. Danske Bank A S purchased a new position in shares of East West Bancorp during the second quarter worth about $39,000. Finally, Wilmington Savings Fund Society FSB increased its position in shares of East West Bancorp by 44.7% in 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 during the last quarter. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

East West Bancorp Price Performance

EWBC opened at $130.40 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $17.87 billion, a P/E ratio of 12.54, a PEG ratio of 1.56 and a beta of 0.94. The stock has a 50-day moving average price of $131.43 and a 200-day moving average price of $121.80. East West Bancorp, Inc. has a 12-month low of $92.67 and a 12-month high of $137.47.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.02. The company had revenue of $789.98 million for the quarter, compared to analysts’ expectations of $784.47 million. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.East West Bancorp’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted $2.24 EPS. Equities analysts predict that East West Bancorp, Inc. will post 10.61 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Monday, August 3rd. East West Bancorp’s dividend payout ratio (DPR) is presently 30.77%.

Insiders Place Their Bets

In other East West Bancorp news, insider Irene H. Oh sold 11,211 shares of East West Bancorp stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $129.00, for a total transaction of $1,446,219.00. Following the transaction, the insider directly owned 85,998 shares of the company’s stock, valued at approximately $11,093,742. This trade represents a 11.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack C. Liu sold 1,000 shares of the business’s 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 completion of the sale, the director owned 13,709 shares of the company’s stock, valued at approximately $1,850,989.18. The trade was a 6.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 33,511 shares of company stock valued at $4,312,741. 0.94% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on EWBC shares. DA Davidson raised their target price on shares of East West Bancorp from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Truist Financial boosted their price target on shares of East West Bancorp from $128.00 to $136.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. TD Cowen increased their price target 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. Weiss Ratings restated a “buy (b)” rating on shares of East West Bancorp in a research report on Friday, July 10th. Finally, Morgan Stanley raised their price objective on shares of East West Bancorp from $128.00 to $131.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, East West Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $141.92.

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.