2,412 Shares in East West Bancorp, Inc. $EWBC Bought by Denali Advisors LLC

Denali Advisors LLC acquired a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,412 shares of the financial services provider’s stock, valued at approximately $244,000.

A number of other hedge funds also recently added to or reduced their stakes in EWBC. Invesco Ltd. lifted its stake in East West Bancorp by 155.6% in the first quarter. Invesco Ltd. now owns 7,714,661 shares of the financial services provider’s stock valued at $692,468,000 after buying an additional 4,696,157 shares during the last quarter. Earnest Partners LLC bought a new stake in East West Bancorp in the first quarter valued at $137,390,000. Nuveen LLC bought a new stake in East West Bancorp in the first quarter valued at $83,330,000. Westfield Capital Management Co. LP lifted its stake in East West Bancorp by 203.0% in the first quarter. Westfield Capital Management Co. LP now owns 817,306 shares of the financial services provider’s stock valued at $73,361,000 after buying an additional 547,556 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in East West Bancorp by 6,571.1% in the first quarter. Wellington Management Group LLP now owns 460,241 shares of the financial services provider’s stock valued at $41,311,000 after buying an additional 453,342 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EWBC has been the topic of a number of recent research reports. Barclays raised their target price on East West Bancorp from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. DA Davidson raised their target price on East West Bancorp from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company raised their target price on East West Bancorp from $100.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Truist Financial raised their target price on East West Bancorp from $112.00 to $116.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Cowen started coverage on shares of East West Bancorp in a research note on Wednesday, September 24th. They set a “buy” rating on the stock. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $123.85.

Insider Transactions at East West Bancorp

In related news, EVP Gary Teo sold 6,550 shares of East West Bancorp stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $106.47, for a total transaction of $697,378.50. Following the transaction, the executive vice president directly owned 12,235 shares of the company’s stock, valued at $1,302,660.45. The trade was a 34.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dominic Ng sold 40,000 shares of East West Bancorp stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $103.38, for a total value of $4,135,200.00. Following the transaction, the chief executive officer directly owned 888,314 shares in the company, valued at approximately $91,833,901.32. The trade was a 4.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,240 shares of company stock valued at $7,379,678 in the last three months. 1.04% of the stock is currently owned by insiders.

East West Bancorp Price Performance

Shares of NASDAQ EWBC opened at $101.97 on Friday. East West Bancorp, Inc. has a fifty-two week low of $68.27 and a fifty-two week high of $113.95. The firm’s 50-day simple moving average is $104.93 and its 200 day simple moving average is $97.86. 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 stock has a market cap of $14.05 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.38 and a beta of 0.93.

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

East West Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, November 3rd. East West Bancorp’s payout ratio is presently 28.04%.

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.