Ferguson Wellman Capital Management Inc. Grows Holdings in East West Bancorp, Inc. $EWBC

Ferguson Wellman Capital Management Inc. lifted its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 231,701 shares of the financial services provider’s stock after buying an additional 5,767 shares during the quarter. Ferguson Wellman Capital Management Inc. owned approximately 0.17% of East West Bancorp worth $24,665,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Park Place Capital Corp purchased a new stake in East West Bancorp in the 2nd quarter worth approximately $27,000. Chung Wu Investment Group LLC purchased a new position in shares of East West Bancorp during the 2nd quarter worth $30,000. American National Bank & Trust acquired a new stake in shares of East West Bancorp during the second quarter worth $32,000. Grove Bank & Trust grew its position in shares of East West Bancorp by 82.6% in the third quarter. Grove Bank & Trust now owns 336 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 152 shares during the period. Finally, Bayforest Capital Ltd grew its position in shares of East West Bancorp by 127.6% in the second quarter. Bayforest Capital Ltd now owns 346 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 194 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on EWBC shares. Zacks Research downgraded East West Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 24th. Cowen reaffirmed a “buy” rating on shares of East West Bancorp in a research note on Wednesday. Truist Financial increased their price objective on shares of East West Bancorp from $112.00 to $116.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft began coverage on shares of East West Bancorp in a research report on Tuesday, December 16th. They issued a “buy” rating and a $133.00 target price on the stock. Finally, Morgan Stanley upped their price target 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. Eleven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.08.

Insider Activity

In related news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the 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 completion of the sale, the insider directly owned 45,500 shares in the company, valued at approximately $4,551,820. This represents a 18.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Molly Campbell sold 1,520 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $104.73, for a total value of $159,189.60. Following the completion of the transaction, the director directly owned 7,556 shares in the company, valued at $791,339.88. This trade represents a 16.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 73,344 shares of company stock worth $8,184,226 in the last quarter. Insiders own 1.04% of the company’s stock.

East West Bancorp Stock Performance

NASDAQ EWBC opened at $118.84 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.89 and a quick ratio of 0.89. East West Bancorp, Inc. has a 1-year low of $68.27 and a 1-year high of $119.68. The firm has a market capitalization of $16.35 billion, a P/E ratio of 13.10, a P/E/G ratio of 1.20 and a beta of 0.88. The business’s 50-day simple moving average is $109.28 and its 200-day simple moving average is $105.97.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Monday, December 11th. The financial services provider reported $2.08 EPS for the quarter. East West Bancorp had a net margin of 27.16% and a return on equity of 15.55%. The firm had revenue of $627.36 million for the quarter. Equities analysts predict that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were issued a dividend of $0.60 per share. The ex-dividend date was Monday, November 3rd. This represents a $2.40 annualized dividend and a dividend yield of 2.0%. East West Bancorp’s payout ratio is presently 26.46%.

East West Bancorp Profile

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.