JCSD Capital LLC Sells 5,000 Shares of East West Bancorp, Inc. $EWBC

JCSD Capital LLC lowered its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 11.2% in the third quarter, Holdings Channel reports. The institutional investor owned 39,623 shares of the financial services provider’s stock after selling 5,000 shares during the period. East West Bancorp accounts for approximately 3.6% of JCSD Capital LLC’s holdings, making the stock its 3rd biggest position. JCSD Capital LLC’s holdings in East West Bancorp were worth $4,218,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Brighton Jones LLC increased its stake in East West Bancorp by 4.5% during the third quarter. Brighton Jones LLC now owns 2,762 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 120 shares during the period. Beverly Hills Private Wealth LLC grew its holdings in shares of East West Bancorp by 4.9% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 2,630 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 122 shares in the last quarter. MAI Capital Management grew its holdings in shares of East West Bancorp by 15.7% during the 2nd quarter. MAI Capital Management now owns 906 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 123 shares in the last quarter. Prospera Financial Services Inc increased its position in shares of East West Bancorp by 2.6% during the second quarter. Prospera Financial Services Inc now owns 5,903 shares of the financial services provider’s stock valued at $596,000 after purchasing an additional 147 shares during the period. Finally, Ransom Advisory Ltd raised its stake in shares of East West Bancorp by 60.0% in the second quarter. Ransom Advisory Ltd now owns 400 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.

East West Bancorp Trading Up 0.6%

Shares of EWBC stock opened at $116.01 on Friday. The company has a market capitalization of $15.96 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.29 and a beta of 0.92. East West Bancorp, Inc. has a 12-month low of $68.27 and a 12-month high of $117.00. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $106.69 and a 200 day moving average price of $104.67.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Monday, December 11th. The financial services provider reported $2.08 earnings per share for the quarter. The company had revenue of $627.36 million during the quarter. East West Bancorp had a net margin of 27.16% and a return on equity of 15.55%. Research analysts forecast that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 3rd were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 2.1%. East West Bancorp’s payout ratio is currently 26.46%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EWBC. Truist Financial lifted their price target on shares of East West Bancorp from $112.00 to $116.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Cantor Fitzgerald initiated coverage on shares of East West Bancorp in a report on Wednesday, September 10th. They set an “overweight” rating and a $124.00 price objective for the company. Morgan Stanley upped their target price on shares of East West Bancorp from $111.00 to $126.00 and gave the company an “underperform” rating in a research note on Monday, September 29th. Piper Sandler raised their price target on shares of East West Bancorp from $100.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, September 8th. Finally, TD Cowen started coverage on East West Bancorp in a research note on Thursday, September 25th. They issued a “buy” rating and a $139.00 price objective on the stock. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, East West Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $125.08.

Insider Buying and Selling

In other East West Bancorp news, Director Molly Campbell sold 1,520 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $104.73, for a total transaction of $159,189.60. Following the sale, the director owned 7,556 shares of the company’s stock, valued at $791,339.88. This represents a 16.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Irene H. Oh sold 12,547 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $115.00, for a total transaction of $1,442,905.00. Following the completion of the sale, the insider owned 93,167 shares of the company’s stock, valued at $10,714,205. The trade was a 11.87% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 73,344 shares of company stock valued at $8,184,226. Insiders own 1.04% of the company’s stock.

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.