GAMMA Investing LLC Has $260,000 Stake in East West Bancorp, Inc. (NASDAQ:EWBC)

GAMMA Investing LLC raised its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 29.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,138 shares of the financial services provider’s stock after buying an additional 707 shares during the period. GAMMA Investing LLC’s holdings in East West Bancorp were worth $260,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in East West Bancorp by 2.8% during the second quarter. CIBC Asset Management Inc now owns 4,753 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 128 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of East West Bancorp by 3.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,606 shares of the financial services provider’s stock valued at $264,000 after buying an additional 133 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of East West Bancorp by 3.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,307 shares of the financial services provider’s stock valued at $315,000 after buying an additional 160 shares during the last quarter. OLD National Bancorp IN grew its stake in shares of East West Bancorp by 6.4% in the second quarter. OLD National Bancorp IN now owns 2,923 shares of the financial services provider’s stock valued at $214,000 after buying an additional 175 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in East West Bancorp by 2.0% during the second quarter. Coldstream Capital Management Inc. now owns 9,372 shares of the financial services provider’s stock worth $686,000 after buying an additional 184 shares during the last quarter. 89.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EWBC has been the subject of a number of recent analyst reports. Jefferies Financial Group cut their price target on shares of East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Stephens boosted their price target on East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Barclays raised their price objective on East West Bancorp from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Truist Financial decreased their target price on East West Bancorp from $96.00 to $93.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, DA Davidson raised their price target on East West Bancorp from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, East West Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $92.77.

Insiders Place Their Bets

In other news, Director Rudolph Estrada sold 1,896 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.77, for a total value of $166,411.92. Following the completion of the transaction, the director now directly owns 18,470 shares in the company, valued at approximately $1,621,111.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Rudolph Estrada sold 1,896 shares of East West Bancorp stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.77, for a total value of $166,411.92. Following the transaction, the director now owns 18,470 shares in the company, valued at approximately $1,621,111.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total value of $167,000.00. Following the sale, the director now owns 16,557 shares of the company’s stock, valued at approximately $1,382,509.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,346 shares of company stock worth $1,108,160 over the last ninety days. Corporate insiders own 1.04% of the company’s stock.

East West Bancorp Stock Performance

Shares of NASDAQ:EWBC opened at $85.11 on Friday. East West Bancorp, Inc. has a 12-month low of $50.23 and a 12-month high of $89.75. The company’s 50 day moving average price is $80.95 and its two-hundred day moving average price is $77.48. The firm has a market cap of $11.84 billion, a PE ratio of 10.72, a PEG ratio of 2.80 and a beta of 1.29. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.10. The firm had revenue of $638.00 million for the quarter, compared to analyst estimates of $631.61 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The company’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the company earned $2.20 EPS. Equities research analysts predict that East West Bancorp, Inc. will post 8.17 earnings per share for the current year.

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.20 annualized dividend and a yield of 2.58%. East West Bancorp’s dividend payout ratio is 27.71%.

About East West Bancorp

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.