6,242 Shares in East West Bancorp, Inc. $EWBC Acquired by West Family Investments Inc.

West Family Investments Inc. acquired a new stake in East West Bancorp, Inc. (NASDAQ:EWBC) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,242 shares of the financial services provider’s stock, valued at approximately $806,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Atlantic Union Bankshares Corp bought a new stake in shares of East West Bancorp in the fourth quarter valued at $31,000. Kelleher Financial Advisors purchased a new position in shares of East West Bancorp during the 3rd quarter valued at $31,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of East West Bancorp during the 2nd quarter worth $37,000. Danske Bank A S bought a new position in shares of East West Bancorp during the 2nd quarter worth $39,000. Finally, Wilmington Savings Fund Society FSB increased its holdings in East West Bancorp by 44.7% in the 3rd 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 last quarter. 89.53% of the stock is owned by institutional investors.

East West Bancorp Price Performance

Shares of NASDAQ EWBC opened at $130.40 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 0.88. East West Bancorp, Inc. has a fifty-two week low of $92.67 and a fifty-two week high of $137.47. The stock has a market cap of $17.87 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 1.56 and a beta of 0.94. The stock has a fifty day moving average of $131.43 and a 200-day moving average of $121.80.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.02. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The business had revenue of $789.98 million for the quarter, compared to analysts’ expectations of $784.47 million. During the same quarter in the prior year, the firm posted $2.24 EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. Equities research analysts anticipate that East West Bancorp, Inc. will post 10.61 earnings per share for the current year.

East West Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders 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 annualized dividend and a dividend yield of 2.5%. East West Bancorp’s dividend payout ratio is currently 30.77%.

Insider Transactions at East West Bancorp

In related news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $132.37, for a total transaction of $1,323,700.00. Following the completion of the transaction, the insider owned 36,974 shares of the company’s stock, valued at approximately $4,894,248.38. The trade was a 21.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack C. Liu sold 1,000 shares of the company’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 transaction of $135,020.00. Following the sale, the director directly owned 13,709 shares in the company, valued at $1,850,989.18. This trade represents a 6.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 33,511 shares of company stock valued at $4,312,741. 0.94% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. 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 research note on Monday, April 27th. Stephens increased their target price on shares of East West Bancorp from $129.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Wall Street Zen upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $152.00 price target on shares of East West Bancorp in a research report on Wednesday. Finally, Morgan Stanley upped their price target on shares of East West Bancorp from $128.00 to $131.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, East West Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $141.92.

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.