East West Bancorp, Inc. $EWBC Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. grew its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 5.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,722 shares of the financial services provider’s stock after acquiring an additional 150 shares during the period. QRG Capital Management Inc.’s holdings in East West Bancorp were worth $275,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Applied Finance Capital Management LLC grew its stake in shares of East West Bancorp by 3.7% during the first quarter. Applied Finance Capital Management LLC now owns 3,444 shares of the financial services provider’s stock valued at $309,000 after acquiring an additional 123 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in shares of East West Bancorp by 0.7% during the first quarter. NorthCrest Asset Manangement LLC now owns 21,271 shares of the financial services provider’s stock valued at $1,909,000 after acquiring an additional 139 shares in the last quarter. Ransom Advisory Ltd grew its stake in shares of East West Bancorp by 60.0% during the second quarter. Ransom Advisory Ltd now owns 400 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 150 shares in the last quarter. UMB Bank n.a. grew its stake in East West Bancorp by 12.7% in the second quarter. UMB Bank n.a. now owns 1,539 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 173 shares in the last quarter. Finally, Crumly & Associates Inc. increased its holdings in East West Bancorp by 1.9% in the first quarter. Crumly & Associates Inc. now owns 9,229 shares of the financial services provider’s stock valued at $828,000 after buying an additional 174 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Dominic Ng sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $103.38, for a total transaction of $4,135,200.00. Following the sale, the chief executive officer owned 888,314 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack C. Liu sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $105.00, for a total value of $105,000.00. Following the sale, the director directly owned 14,974 shares in the company, valued at approximately $1,572,270. The trade was a 6.26% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 70,240 shares of company stock worth $7,379,678. 1.04% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on EWBC shares. DA Davidson increased their target price on East West Bancorp from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Keefe, Bruyette & Woods lifted their target price on East West Bancorp from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 23rd. Piper Sandler lifted their target price on East West Bancorp from $100.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, September 8th. Cantor Fitzgerald assumed coverage on East West Bancorp in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $124.00 target price for the company. Finally, Cowen assumed coverage on East West Bancorp in a research report on Wednesday, September 24th. They issued a “buy” rating for the company. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $121.33.

East West Bancorp Stock Performance

EWBC opened at $99.28 on Friday. The business’s 50 day moving average is $105.01 and its 200-day moving average is $96.98. The stock has a market cap of $13.68 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.43. East West Bancorp, Inc. has a twelve month low of $68.27 and a twelve month high of $113.95.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Monday, December 11th. The financial services provider reported $2.08 earnings per share for the quarter. The company had revenue of $627.36 million for the quarter. East West Bancorp had a return on equity of 15.09% and a net margin of 26.06%. On average, analysts predict that East West Bancorp, Inc. will post 8.85 earnings per share for the current year.

East West Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 4th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 4th. East West Bancorp’s payout ratio is 28.04%.

East West Bancorp Profile

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.