Captrust Financial Advisors bought a new stake in East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) during the third quarter, HoldingsChannel reports. The firm bought 3,016 shares of the financial services provider’s stock, valued at approximately $250,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Infrastructure Capital Advisors LLC acquired a new stake in shares of East West Bancorp in the third quarter valued at about $256,000. Noesis Capital Mangement Corp acquired a new stake in shares of East West Bancorp in the third quarter valued at about $1,105,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of East West Bancorp by 2.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,911 shares of the financial services provider’s stock valued at $3,137,000 after acquiring an additional 887 shares during the last quarter. Townsquare Capital LLC acquired a new stake in shares of East West Bancorp in the third quarter valued at about $303,000. Finally, Transamerica Financial Advisors Inc. acquired a new stake in shares of East West Bancorp in the third quarter valued at about $79,000. Institutional investors and hedge funds own 89.53% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. Piper Sandler boosted their price target on East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Citigroup boosted their price target on East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial boosted their price target on East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Stephens downgraded East West Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Finally, Compass Point boosted their price target on East West Bancorp from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $109.17.
Check Out Our Latest Report on EWBC
East West Bancorp Price Performance
East West Bancorp stock opened at $101.58 on Monday. East West Bancorp, Inc. has a 12 month low of $67.27 and a 12 month high of $113.95. The stock’s 50 day moving average is $99.97 and its 200-day moving average is $85.73. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $14.08 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 3.05 and a beta of 1.28.
East West Bancorp (NASDAQ:EWBC – Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $641.80 million. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. During the same period in the previous year, the company posted $2.02 earnings per share. Equities research analysts expect that East West Bancorp, Inc. will post 8.39 EPS for the current year.
East West Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Monday, November 4th. East West Bancorp’s dividend payout ratio (DPR) is currently 27.78%.
Insider Activity at East West Bancorp
In related news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total value of $1,279,320.00. Following the completion of the sale, the insider now directly owns 45,403 shares in the company, valued at approximately $4,840,413.83. The trade was a 20.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Irene H. Oh sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $98.50, for a total value of $985,000.00. Following the sale, the insider now owns 117,193 shares of the company’s stock, valued at $11,543,510.50. The trade was a 7.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,969 shares of company stock worth $2,458,276. Company insiders own 1.04% of the company’s stock.
East West Bancorp Profile
(Free Report)
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.
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