East West Bancorp, Inc. $EWBC Shares Sold by Copperwynd Financial LLC

Copperwynd Financial LLC trimmed its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 24.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,784 shares of the financial services provider’s stock after selling 898 shares during the period. Copperwynd Financial LLC’s holdings in East West Bancorp were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Xponance Inc. grew its position in East West Bancorp by 1.9% during the 1st quarter. Xponance Inc. now owns 16,141 shares of the financial services provider’s stock worth $1,449,000 after purchasing an additional 302 shares during the period. Janney Montgomery Scott LLC lifted its stake in East West Bancorp by 25.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 28,287 shares of the financial services provider’s stock valued at $2,539,000 after buying an additional 5,654 shares in the last quarter. Cerity Partners LLC lifted its stake in East West Bancorp by 35.9% in the 1st quarter. Cerity Partners LLC now owns 16,157 shares of the financial services provider’s stock valued at $1,450,000 after buying an additional 4,271 shares in the last quarter. SG Americas Securities LLC lifted its stake in East West Bancorp by 470.9% in the 1st quarter. SG Americas Securities LLC now owns 7,559 shares of the financial services provider’s stock valued at $678,000 after buying an additional 6,235 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in East West Bancorp by 7.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 48,093 shares of the financial services provider’s stock valued at $4,317,000 after buying an additional 3,460 shares in the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EWBC has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of East West Bancorp from $111.00 to $126.00 and gave the company an “underperform” rating in a report on Monday, September 29th. TD Cowen assumed coverage on shares of East West Bancorp in a report on Thursday, September 25th. They issued a “buy” rating and a $139.00 target price for the company. Keefe, Bruyette & Woods lifted their target price on shares of East West Bancorp from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Piper Sandler raised their price target on shares of East West Bancorp from $100.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, September 8th. Finally, Cantor Fitzgerald started coverage on shares of East West Bancorp in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $124.00 price target for the company. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, East West Bancorp has an average rating of “Moderate Buy” and a consensus price target of $121.20.

Insider Activity

In other news, CEO Dominic Ng sold 40,000 shares of the business’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $103.38, for a total transaction of $4,135,200.00. Following the transaction, the chief executive officer directly owned 888,314 shares in the company, valued at $91,833,901.32. The trade was a 4.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Irene H. Oh sold 15,051 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $106.73, for a total transaction of $1,606,393.23. Following the transaction, the insider owned 113,353 shares in the company, valued at approximately $12,098,165.69. This trade represents a 11.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,240 shares of company stock valued at $7,379,678. 1.04% of the stock is owned by insiders.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $106.13 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $14.63 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.45 and a beta of 0.93. East West Bancorp, Inc. has a 12 month low of $68.27 and a 12 month high of $113.95. The company’s fifty day moving average price is $104.90 and its 200 day moving average price is $96.83.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.05. The company had revenue of $705.00 million for the quarter, compared to analyst estimates of $702.04 million. East West Bancorp had a net margin of 26.06% and a return on equity of 15.09%. East West Bancorp’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.07 earnings per share. As a group, sell-side analysts predict that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 4th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, August 4th. East West Bancorp’s payout ratio is 28.04%.

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.