East West Bancorp, Inc. $EWBC Shares Bought by US Bancorp DE

US Bancorp DE boosted its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 880.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,625 shares of the financial services provider’s stock after purchasing an additional 19,420 shares during the period. US Bancorp DE’s holdings in East West Bancorp were worth $2,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EWBC. Picton Mahoney Asset Management lifted its position in East West Bancorp by 1,971.4% during the first quarter. Picton Mahoney Asset Management now owns 290 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 276 shares during the period. Park Place Capital Corp acquired a new position in East West Bancorp during the second quarter valued at $27,000. WPG Advisers LLC acquired a new position in East West Bancorp during the first quarter valued at $28,000. SVB Wealth LLC acquired a new position in East West Bancorp during the first quarter valued at $29,000. Finally, Chung Wu Investment Group LLC acquired a new position in East West Bancorp during the second quarter valued at $30,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Stock Down 2.2%

EWBC stock opened at $101.24 on Thursday. The stock has a market capitalization of $13.95 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.41 and a beta of 0.93. The firm has a 50-day simple moving average of $105.17 and a 200-day simple moving average of $97.18. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.43. East West Bancorp, Inc. has a 52 week low of $68.27 and a 52 week high of $113.95.

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

East West Bancorp Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of 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 shares of East West Bancorp in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $124.00 price objective for the company. Cowen assumed coverage on shares of East West Bancorp in a research report on Wednesday, September 24th. They issued a “buy” rating for the company. Wells Fargo & Company upped their price objective on shares of East West Bancorp from $100.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Finally, Morgan Stanley upped their price objective on shares of East West Bancorp from $111.00 to $126.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th. Twelve equities research 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, East West Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $121.33.

Insider Buying and Selling at East West Bancorp

In related news, insider Irene H. Oh sold 7,639 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $109.40, for a total transaction of $835,706.60. Following the completion of the sale, the insider owned 105,714 shares of the company’s stock, valued at approximately $11,565,111.60. This represents a 6.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gary Teo sold 6,550 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $106.47, for a total transaction of $697,378.50. Following the sale, the executive vice president directly owned 12,235 shares of the company’s stock, valued at approximately $1,302,660.45. This represents a 34.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,240 shares of company stock worth $7,379,678 in the last 90 days. 1.04% of the stock is currently owned by insiders.

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.