Edgestream Partners L.P. Buys 5,828 Shares of East West Bancorp, Inc. $EWBC

Edgestream Partners L.P. lifted its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 7.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,080 shares of the financial services provider’s stock after buying an additional 5,828 shares during the period. Edgestream Partners L.P. owned approximately 0.06% of East West Bancorp worth $9,403,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Atlantic Union Bankshares Corp purchased a new position in East West Bancorp in the 4th quarter worth approximately $31,000. Kelleher Financial Advisors bought a new position in shares of East West Bancorp in the third quarter worth approximately $31,000. Signaturefd LLC grew its holdings in shares of East West Bancorp by 115.0% in the fourth quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 184 shares during the last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of East West Bancorp by 44.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock worth $39,000 after buying an additional 113 shares during the period. Finally, Quarry LP raised its holdings in East West Bancorp by 35.4% during the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider’s stock valued at $42,000 after buying an additional 102 shares during the last quarter. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

East West Bancorp Stock Performance

Shares of EWBC opened at $130.28 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average price is $128.70 and its 200-day moving average price is $119.83. East West Bancorp, Inc. has a 52 week low of $92.67 and a 52 week high of $136.24. The stock has a market cap of $17.85 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.52 and a beta of 0.94.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.02. The company had revenue of $791.14 million during the quarter, compared to analyst estimates of $784.47 million. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned $2.24 EPS. Equities research analysts anticipate that East West Bancorp, Inc. will post 10.59 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 3rd will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 3rd. East West Bancorp’s dividend payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EWBC. UBS Group raised their price target on shares of East West Bancorp from $125.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Wells Fargo & Company raised their target price on East West Bancorp from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Barclays boosted their price target on East West Bancorp from $142.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of East West Bancorp in a report on Friday, July 10th. Finally, DA Davidson lifted their price objective on East West Bancorp from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.23.

Insider Transactions at East West Bancorp

In other news, insider Irene H. Oh sold 800 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $133.19, for a total transaction of $106,552.00. Following the completion of the transaction, the insider directly owned 84,698 shares in the company, valued at $11,280,926.62. This trade represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dominic Ng sold 30,000 shares of East West Bancorp stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $123.49, for a total value of $3,704,700.00. Following the completion of the transaction, the chief executive officer directly owned 707,930 shares of the company’s stock, valued at approximately $87,422,275.70. This represents a 4.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 52,511 shares of company stock valued at $6,558,721. Insiders own 0.94% of the company’s stock.

About East West Bancorp

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.