East West Bancorp, Inc. (NASDAQ:EWBC) Shares Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,884 shares of the financial services provider’s stock after purchasing an additional 243 shares during the quarter. Verdence Capital Advisors LLC’s holdings in East West Bancorp were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc increased its position in shares of 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 valued at $348,000 after acquiring an additional 128 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in 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 purchasing an additional 133 shares during the last quarter. US Bancorp DE raised its position in East West Bancorp by 7.8% in the third quarter. US Bancorp DE now owns 1,949 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 141 shares during the period. Bleakley Financial Group LLC lifted its stake in East West Bancorp by 4.4% during the third quarter. Bleakley Financial Group LLC now owns 3,550 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 148 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of East West Bancorp by 3.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,307 shares of the financial services provider’s stock worth $315,000 after buying an additional 160 shares during the period. 89.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on EWBC shares. StockNews.com raised East West Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Truist Financial increased their price target on shares of East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. DA Davidson lifted their price objective on shares of East West Bancorp from $100.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup increased their target price on shares of East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Wedbush boosted their price target on shares of East West Bancorp from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $102.25.

East West Bancorp Stock Up 4.0 %

East West Bancorp stock opened at $105.98 on Tuesday. The stock has a market cap of $14.69 billion, a PE ratio of 13.38, a P/E/G ratio of 2.97 and a beta of 1.27. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s fifty day moving average is $87.39 and its two-hundred day moving average is $80.52. East West Bancorp, Inc. has a 1-year low of $55.62 and a 1-year high of $107.33.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. During the same quarter last year, the company earned $2.02 EPS. On average, sell-side analysts expect that East West Bancorp, Inc. will post 8.34 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, November 4th. East West Bancorp’s dividend payout ratio (DPR) is 27.78%.

Insider Buying and Selling

In other East West Bancorp news, insider Irene H. Oh sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $98.50, for a total value of $985,000.00. Following the completion of the transaction, the insider now owns 117,193 shares in the company, valued at $11,543,510.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Irene H. Oh sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $98.50, for a total value of $985,000.00. Following the completion of the sale, the insider now directly owns 117,193 shares of the company’s stock, valued at approximately $11,543,510.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 16,557 shares in the company, valued at $1,382,509.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,969 shares of company stock worth $1,345,956 in the last ninety days. 1.04% of the stock is owned by corporate insiders.

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.