Erste Asset Management GmbH Has $4.12 Million Stake in East West Bancorp, Inc. $EWBC

Erste Asset Management GmbH grew its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 16.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,627 shares of the financial services provider’s stock after purchasing an additional 5,463 shares during the period. Erste Asset Management GmbH’s holdings in East West Bancorp were worth $4,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in East West Bancorp by 4.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,602 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 108 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of East West Bancorp by 44.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock worth $39,000 after buying an additional 113 shares during the last quarter. Brighton Jones LLC increased its holdings in shares of East West Bancorp by 4.5% during the third quarter. Brighton Jones LLC now owns 2,762 shares of the financial services provider’s stock worth $294,000 after buying an additional 120 shares in the last quarter. MAI Capital Management increased its holdings in shares of East West Bancorp by 15.7% during the second quarter. MAI Capital Management now owns 906 shares of the financial services provider’s stock worth $91,000 after buying an additional 123 shares in the last quarter. Finally, HB Wealth Management LLC lifted its stake in shares of East West Bancorp by 7.0% in the 3rd quarter. HB Wealth Management LLC now owns 2,148 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 141 shares during the last quarter. 89.53% of the stock is owned by institutional investors.

Insider Activity at East West Bancorp

In other East West Bancorp news, Director Molly Campbell sold 1,800 shares of East West Bancorp stock in a transaction on Friday, February 6th. The shares were sold at an average price of $122.81, for a total value of $221,058.00. Following the completion of the sale, the director directly owned 5,756 shares of the company’s stock, valued at approximately $706,894.36. The trade was a 23.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Dominic Ng sold 50,000 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $117.82, for a total transaction of $5,891,000.00. Following the transaction, the chief executive officer directly owned 808,331 shares in the company, valued at $95,237,558.42. This trade represents a 5.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 119,065 shares of company stock worth $13,857,314. Corporate insiders own 1.04% of the company’s stock.

East West Bancorp Stock Performance

Shares of East West Bancorp stock opened at $109.45 on Friday. The business has a 50-day moving average price of $116.11 and a two-hundred day moving average price of $109.18. East West Bancorp, Inc. has a 1-year low of $68.27 and a 1-year high of $123.82. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34. The company has a market cap of $15.06 billion, a P/E ratio of 11.50, a PEG ratio of 1.42 and a beta of 0.92.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.04. East West Bancorp had a return on equity of 15.72% and a net margin of 28.36%.The company had revenue of $753.79 million for the quarter, compared to the consensus estimate of $745.04 million. During the same period in the previous year, the business earned $2.10 EPS. As a group, analysts anticipate that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, February 2nd. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.60. East West Bancorp’s dividend payout ratio (DPR) is currently 33.61%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Barclays boosted their price objective on East West Bancorp from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Truist Financial set a $121.00 price target on East West Bancorp in a report on Friday, January 23rd. Piper Sandler upped their price objective on East West Bancorp from $111.00 to $116.00 and gave the company a “neutral” rating in a research note on Monday, January 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of East West Bancorp in a research report on Tuesday, December 16th. They set a “buy” rating and a $133.00 target price on the stock. Finally, UBS Group set a $125.00 price target on shares of East West Bancorp in a research report on Wednesday, February 4th. Ten analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.14.

East West Bancorp Company 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.