Impact Partnership Wealth LLC Raises Stock Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Impact Partnership Wealth LLC raised its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 30.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,763 shares of the financial services provider’s stock after purchasing an additional 1,361 shares during the period. Impact Partnership Wealth LLC’s holdings in East West Bancorp were worth $552,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Millennium Management LLC boosted its holdings in East West Bancorp by 152.1% in the 2nd quarter. Millennium Management LLC now owns 374,213 shares of the financial services provider’s stock worth $27,404,000 after buying an additional 225,799 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in shares of East West Bancorp by 39.9% in the third quarter. Westfield Capital Management Co. LP now owns 520,656 shares of the financial services provider’s stock valued at $43,079,000 after acquiring an additional 148,530 shares in the last quarter. FMR LLC boosted its stake in shares of East West Bancorp by 1.8% in the third quarter. FMR LLC now owns 7,882,803 shares of the financial services provider’s stock worth $652,223,000 after acquiring an additional 136,528 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of East West Bancorp during the fourth quarter worth approximately $12,734,000. Finally, Jennison Associates LLC raised its stake in East West Bancorp by 7.3% in the 3rd quarter. Jennison Associates LLC now owns 1,804,288 shares of the financial services provider’s stock valued at $149,287,000 after purchasing an additional 123,376 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

East West Bancorp Trading Up 0.7 %

NASDAQ:EWBC opened at $103.50 on Friday. The stock has a fifty day moving average price of $101.31 and a 200 day moving average price of $90.73. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp, Inc. has a 12-month low of $67.27 and a 12-month high of $113.95. The firm has a market cap of $14.35 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 2.85 and a beta of 1.30.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $641.80 million. During the same quarter in the previous year, the firm earned $2.02 earnings per share. Sell-side analysts anticipate that East West Bancorp, Inc. will post 8.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of East West Bancorp from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Piper Sandler upped their price objective on shares of East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods raised their target price on shares of East West Bancorp from $96.00 to $128.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Compass Point upped their price target on East West Bancorp from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Citigroup increased their price target on East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $109.77.

Insiders Place Their Bets

In other news, Vice Chairman Douglas Paul Krause sold 12,000 shares of East West Bancorp stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the sale, the insider now owns 45,403 shares in the company, valued at approximately $4,840,413.83. The trade was a 20.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rudolph Estrada sold 469 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $98.04, for a total value of $45,980.76. Following the completion of the sale, the director now directly owns 17,750 shares of the company’s stock, valued at approximately $1,740,210. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,969 shares of company stock valued at $2,458,276 in the last ninety days. Insiders own 1.04% of the company’s stock.

East West Bancorp Company 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.