Angel Oak Capital Advisors LLC Decreases Stock Position in East West Bancorp, Inc. $EWBC

Angel Oak Capital Advisors LLC decreased its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 10.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,500 shares of the financial services provider’s stock after selling 1,000 shares during the period. East West Bancorp comprises approximately 1.2% of Angel Oak Capital Advisors LLC’s holdings, making the stock its 23rd biggest holding. Angel Oak Capital Advisors LLC’s holdings in East West Bancorp were worth $858,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in shares of East West Bancorp by 155.6% in the first quarter. Invesco Ltd. now owns 7,714,661 shares of the financial services provider’s stock worth $692,468,000 after acquiring an additional 4,696,157 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of East West Bancorp by 7.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,733,102 shares of the financial services provider’s stock worth $424,843,000 after purchasing an additional 314,262 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in East West Bancorp by 1.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,005,394 shares of the financial services provider’s stock worth $359,525,000 after purchasing an additional 46,717 shares in the last quarter. Boston Partners raised its stake in East West Bancorp by 39.6% during the second quarter. Boston Partners now owns 3,241,088 shares of the financial services provider’s stock valued at $327,271,000 after buying an additional 920,159 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in East West Bancorp by 3.3% during the second quarter. Geode Capital Management LLC now owns 2,726,099 shares of the financial services provider’s stock valued at $276,562,000 after buying an additional 86,150 shares in the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Stock Performance

Shares of EWBC opened at $103.75 on Friday. The firm has a market capitalization of $14.30 billion, a PE ratio of 11.44, a P/E/G ratio of 1.12 and a beta of 0.97. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $104.31 and a 200 day moving average price of $100.64. 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 issued its quarterly earnings results on Monday, December 11th. The financial services provider reported $2.08 earnings per share for the quarter. East West Bancorp had a net margin of 27.16% and a return on equity of 15.55%. The company had revenue of $627.36 million during the quarter. On average, sell-side analysts anticipate that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $2.40 annualized dividend and a yield of 2.3%. East West Bancorp’s dividend payout ratio (DPR) is currently 26.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on EWBC shares. TD Cowen started coverage on East West Bancorp in a report on Thursday, September 25th. They issued a “buy” rating and a $139.00 price target for the company. Zacks Research raised shares of East West Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, October 24th. Piper Sandler boosted their target price on shares of East West Bancorp from $100.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, September 8th. Citigroup raised their price target on shares of East West Bancorp from $124.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of East West Bancorp from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.08.

Insider Buying and Selling

In related news, Vice Chairman Douglas Paul Krause sold 10,000 shares of East West Bancorp stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $100.04, for a total value of $1,000,400.00. Following the transaction, the insider directly owned 45,500 shares in the company, valued at $4,551,820. The trade was a 18.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Molly Campbell sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $105.40, for a total value of $105,400.00. Following the sale, the director directly owned 9,076 shares in the company, valued at $956,610.40. This trade represents a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 43,220 shares of company stock worth $4,551,488 in the last ninety days. Insiders own 1.04% of the company’s stock.

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.