Commonwealth Equity Services LLC Increases Stock Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Commonwealth Equity Services LLC raised its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBCFree Report) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,706 shares of the financial services provider’s stock after purchasing an additional 323 shares during the quarter. Commonwealth Equity Services LLC’s holdings in East West Bancorp were worth $768,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Riverview Trust Co purchased a new position in shares of East West Bancorp during the first quarter valued at about $25,000. YHB Investment Advisors Inc. purchased a new position in shares of East West Bancorp during the 1st quarter worth approximately $27,000. Rise Advisors LLC bought a new position in shares of East West Bancorp in the 1st quarter worth approximately $30,000. Kapitalo Investimentos Ltda purchased a new position in shares of East West Bancorp in the 4th quarter valued at approximately $29,000. Finally, Mather Group LLC. bought a new stake in shares of East West Bancorp during the first quarter valued at approximately $35,000. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp Trading Up 1.4 %

Shares of NASDAQ:EWBC opened at $71.76 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.93. East West Bancorp, Inc. has a 1 year low of $49.59 and a 1 year high of $79.54. The company has a market cap of $9.98 billion, a P/E ratio of 9.04, a PEG ratio of 3.58 and a beta of 1.32. The stock’s fifty day moving average price is $73.64 and its 200-day moving average price is $73.56.

East West Bancorp (NASDAQ:EWBCGet Free Report) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.08. East West Bancorp had a net margin of 26.78% and a return on equity of 17.43%. The business had revenue of $644.13 million for the quarter, compared to analysts’ expectations of $636.77 million. During the same quarter in the prior year, the business earned $2.32 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Sell-side analysts expect that East West Bancorp, Inc. will post 8.03 earnings per share for the current year.

East West Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Thursday, May 2nd. East West Bancorp’s dividend payout ratio (DPR) is presently 27.71%.

Wall Street Analyst Weigh In

EWBC has been the subject of several recent research reports. Citigroup raised their price objective on East West Bancorp from $85.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Truist Financial dropped their price objective on shares of East West Bancorp from $86.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday. Barclays decreased their target price on shares of East West Bancorp from $106.00 to $105.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Stephens boosted their price target on East West Bancorp from $85.00 to $86.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group reduced their price objective on East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.31.

Get Our Latest Research Report on EWBC

Insider Buying and Selling at East West Bancorp

In other news, insider Irene H. Oh sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $77.58, for a total value of $775,800.00. Following the transaction, the insider now directly owns 127,193 shares in the company, valued at approximately $9,867,632.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Vice Chairman Douglas Paul Krause sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $73.76, for a total transaction of $590,080.00. Following the completion of the sale, the insider now directly owns 57,403 shares in the company, valued at $4,234,045.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Irene H. Oh sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $77.58, for a total transaction of $775,800.00. Following the completion of the transaction, the insider now owns 127,193 shares in the company, valued at $9,867,632.94. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

East West Bancorp Company 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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Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

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