9,234 East West Bancorp, Inc. $EWBC Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 144.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,608 shares of the financial services provider’s stock after acquiring an additional 9,234 shares during the period. Ritholtz Wealth Management’s holdings in East West Bancorp were worth $1,934,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EWBC. Amundi raised its position in shares of East West Bancorp by 242.3% during the second quarter. Amundi now owns 57,721 shares of the financial services provider’s stock worth $7,451,000 after purchasing an additional 40,857 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of East West Bancorp during the 2nd quarter valued at about $907,000. Canada Pension Plan Investment Board bought a new position in shares of East West Bancorp during the 2nd quarter valued at about $2,737,000. Zhang Financial LLC bought a new position in shares of East West Bancorp during the 1st quarter valued at about $842,000. Finally, Benjamin Edwards Inc. acquired a new position in shares of East West Bancorp in the 2nd quarter valued at approximately $1,576,000. 89.53% of the stock is owned by institutional investors and hedge funds.

East West Bancorp Stock Up 0.0%

EWBC stock traded up $0.06 during trading hours on Friday, reaching $131.21. 737,669 shares of the stock were exchanged, compared to its average volume of 885,746. The firm’s 50-day moving average is $128.42 and its 200-day moving average is $123.80. East West Bancorp, Inc. has a 12 month low of $98.72 and a 12 month high of $137.47. The company has a market cap of $17.98 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.36 and a beta of 0.99. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.87 and a quick ratio of 0.87.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.04. The company had revenue of $822.72 million for the quarter, compared to analyst estimates of $811.07 million. East West Bancorp had a return on equity of 16.07% and a net margin of 30.75%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.65 earnings per share. On average, equities research analysts expect that East West Bancorp, Inc. will post 10.74 earnings per share for the current year.

East West Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Investors of record on Monday, November 2nd will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, November 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.4%. East West Bancorp’s dividend payout ratio (DPR) is presently 30.45%.

Insider Transactions at East West Bancorp

In related news, Director Manuel Alvarez sold 810 shares of East West Bancorp stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $130.40, for a total value of $105,624.00. Following the sale, the director owned 10,629 shares of the company’s stock, valued at approximately $1,386,021.60. This trade represents a 7.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dominic Ng sold 35,023 shares of the business’s stock in a transaction that occurred on Friday, November 13th. The shares were sold at an average price of $130.57, for a total value of $4,572,953.11. Following the completion of the sale, the chief executive officer owned 637,930 shares in the company, valued at $83,294,520.10. The trade was a 5.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 70,810 shares of company stock valued at $9,299,738. 0.94% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on EWBC. Hovde Group assumed coverage on East West Bancorp in a research report on Tuesday, November 10th. They issued an “outperform” rating and a $153.00 price objective for the company. Citigroup raised their target price on shares of East West Bancorp from $152.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Barclays lifted their price target on shares of East West Bancorp from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, November 3rd. Truist Financial reduced their price target on shares of East West Bancorp from $137.00 to $131.00 and set a “hold” rating for the company in a report on Friday, October 9th. Finally, Cantor Fitzgerald reduced their price target on shares of East West Bancorp from $152.00 to $146.00 and set an “overweight” rating for the company in a report on Wednesday, October 14th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.71.

East West Bancorp Profile

East West Bancorp, Inc. is the holding company for East West Bank, a commercial bank headquartered in Pasadena, California. Founded in 1973, the bank initially served Chinese American communities in Southern California and has since expanded its services and geographic reach. East West Bank provides personal and business banking, commercial lending, trade finance, treasury management and other financial services. Its customers include individuals, small and midsize businesses, and larger companies, with a focus on supporting commerce between the United States and Asia.