Vise Technologies Inc. Buys New Shares in East West Bancorp, Inc. $EWBC

Vise Technologies Inc. bought a new position in East West Bancorp, Inc. (NASDAQ:EWBC) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,093 shares of the financial services provider’s stock, valued at approximately $528,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atlantic Union Bankshares Corp purchased a new position in East West Bancorp during the 4th quarter worth approximately $31,000. Kelleher Financial Advisors acquired a new stake in East West Bancorp during the 3rd quarter valued at approximately $31,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of East West Bancorp in the 2nd quarter valued at $37,000. Danske Bank A S purchased a new stake in shares of East West Bancorp in the 2nd quarter valued at $39,000. Finally, Wilmington Savings Fund Society FSB increased its stake 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 acquiring an additional 113 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

East West Bancorp Stock Down 0.8%

EWBC stock opened at $128.91 on Tuesday. East West Bancorp, Inc. has a one year low of $92.67 and a one year high of $137.47. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 0.88. The firm’s fifty day moving average is $131.33 and its 200 day moving average is $122.12. The firm has a market cap of $17.66 billion, a PE ratio of 12.40, a P/E/G ratio of 1.51 and a beta of 0.94.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.02. East West Bancorp had a net margin of 30.45% and a return on equity of 16.07%. 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 prior year, the firm posted $2.24 earnings per share. The company’s revenue was up 12.5% compared to the same quarter last year. On average, research analysts forecast that East West Bancorp, Inc. will post 10.61 EPS for the current year.

East West Bancorp Dividend Announcement

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. The ex-dividend date was Monday, August 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. East West Bancorp’s dividend payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on EWBC shares. Barclays raised their target price on shares of East West Bancorp from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Morgan Stanley increased their price target on East West Bancorp from $128.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of East West Bancorp in a research note on Friday, July 10th. Piper Sandler boosted their price objective on East West Bancorp from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Finally, Wall Street Zen upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. One 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $141.92.

Insiders Place Their Bets

In other East West Bancorp news, Director Jack C. Liu sold 1,000 shares of the firm’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 value of $135,020.00. Following the sale, the director directly owned 13,709 shares of the company’s stock, valued at approximately $1,850,989.18. This trade 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 accessible through this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $123.50, for a total value of $1,235,000.00. Following the completion of the sale, the insider owned 46,974 shares of the company’s stock, valued at $5,801,289. This trade represents a 17.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 33,511 shares of company stock worth $4,312,741. 0.94% of the stock is owned by corporate insiders.

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.