Angel Oak Capital Advisors LLC Takes Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Angel Oak Capital Advisors LLC bought a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 10,600 shares of the financial services provider’s stock, valued at approximately $1,015,000. East West Bancorp comprises 1.3% of Angel Oak Capital Advisors LLC’s investment portfolio, making the stock its 13th biggest holding.

A number of other institutional investors have also made changes to their positions in EWBC. Louisiana State Employees Retirement System boosted its position in East West Bancorp by 0.3% during the fourth quarter. Louisiana State Employees Retirement System now owns 38,500 shares of the financial services provider’s stock worth $3,687,000 after purchasing an additional 100 shares during the period. Covestor Ltd lifted its stake in shares of East West Bancorp by 7.4% during the 3rd quarter. Covestor Ltd now owns 1,537 shares of the financial services provider’s stock worth $128,000 after buying an additional 106 shares during the last quarter. Lindenwold Advisors INC boosted its holdings in shares of East West Bancorp by 1.8% during the 3rd quarter. Lindenwold Advisors INC now owns 7,270 shares of the financial services provider’s stock worth $602,000 after buying an additional 129 shares during the period. Blue Trust Inc. grew its stake in East West Bancorp by 3.8% in the 4th quarter. Blue Trust Inc. now owns 3,583 shares of the financial services provider’s stock valued at $343,000 after buying an additional 132 shares during the last quarter. Finally, US Bancorp DE raised its holdings in East West Bancorp by 7.8% in the 3rd quarter. US Bancorp DE now owns 1,949 shares of the financial services provider’s stock valued at $161,000 after acquiring an additional 141 shares during the period. 89.53% of the stock is owned by institutional investors and hedge funds.

East West Bancorp Trading Up 0.9 %

Shares of East West Bancorp stock opened at $98.57 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46. East West Bancorp, Inc. has a 12-month low of $68.78 and a 12-month high of $113.95. The company has a market capitalization of $13.66 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.36 and a beta of 1.30. The firm’s 50-day moving average price is $99.26 and its two-hundred day moving average price is $93.23.

East West Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 17th. Investors of record on Monday, February 3rd were given a dividend of $0.60 per share. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.55. The ex-dividend date was Monday, February 3rd. This represents a $2.40 annualized dividend and a dividend yield of 2.43%. East West Bancorp’s dividend payout ratio (DPR) is currently 28.81%.

Insider Activity at East West Bancorp

In other East West Bancorp news, Director Jack C. Liu sold 1,275 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $104.53, for a total value of $133,275.75. Following the sale, the director now owns 14,557 shares of the company’s stock, valued at approximately $1,521,643.21. This trade represents a 8.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.04% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

EWBC has been the subject of a number of research analyst reports. Piper Sandler reduced their price objective on East West Bancorp from $100.00 to $97.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Citigroup boosted their price target on East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wedbush increased their price objective on East West Bancorp from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Barclays dropped their target price on East West Bancorp from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Finally, Wells Fargo & Company upped their price target on shares of East West Bancorp from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.38.

About East West Bancorp

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.