Raymond James Trust N.A. Acquires 1,390 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Raymond James Trust N.A. boosted its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 22.6% during the 3rd quarter, Holdings Channel reports. The firm owned 7,528 shares of the financial services provider’s stock after buying an additional 1,390 shares during the period. Raymond James Trust N.A.’s holdings in East West Bancorp were worth $623,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in shares of East West Bancorp during the third quarter valued at approximately $25,000. Cullen Frost Bankers Inc. bought a new stake in East West Bancorp in the 2nd quarter valued at $30,000. UMB Bank n.a. lifted its stake in East West Bancorp by 362.8% in the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 283 shares in the last quarter. American Capital Advisory LLC bought a new position in shares of East West Bancorp during the 2nd quarter valued at about $31,000. Finally, Signaturefd LLC grew its position in shares of East West Bancorp by 490.1% during the second quarter. Signaturefd LLC now owns 537 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 446 shares in the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Piper Sandler increased their price target on East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Truist Financial raised their target price on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup upped their price target on shares of East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Stephens lifted their price objective on shares of East West Bancorp from $91.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Barclays upped their target price on shares of East West Bancorp from $108.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, East West Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $102.25.

East West Bancorp Price Performance

EWBC opened at $111.23 on Tuesday. The business has a fifty day moving average of $93.03 and a 200 day moving average of $82.80. The stock has a market cap of $15.42 billion, a P/E ratio of 14.04, a PEG ratio of 3.20 and a beta of 1.27. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp, Inc. has a 52-week low of $60.34 and a 52-week high of $113.95.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. During the same period last year, the company posted $2.02 earnings per share. As a group, sell-side analysts anticipate that East West Bancorp, Inc. will post 8.37 EPS for the current year.

East West Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Monday, November 4th. East West Bancorp’s dividend payout ratio is 27.78%.

Insider Transactions at East West Bancorp

In other news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the transaction, the insider now directly owns 45,403 shares in the company, valued at approximately $4,840,413.83. This trade represents a 20.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rudolph Estrada sold 469 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total transaction of $45,980.76. Following the completion of the transaction, the director now directly owns 17,750 shares of the company’s stock, valued at $1,740,210. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,969 shares of company stock valued at $2,458,276. 1.04% of the stock is currently owned by corporate insiders.

East West Bancorp Company Profile

East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.