Brooklyn Investment Group Makes New $180,000 Investment in East West Bancorp, Inc. (NASDAQ:EWBC)

Brooklyn Investment Group acquired a new position in East West Bancorp, Inc. (NASDAQ:EWBC) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,180 shares of the financial services provider’s stock, valued at approximately $180,000.

Other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of East West Bancorp in the 3rd quarter worth approximately $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of East West Bancorp in the 2nd quarter worth approximately $30,000. UMB Bank n.a. raised its holdings in shares of East West Bancorp by 362.8% in the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after buying an additional 283 shares in the last quarter. American Capital Advisory LLC acquired a new position in shares of East West Bancorp in the 2nd quarter worth approximately $31,000. Finally, Signaturefd LLC raised its holdings in shares of East West Bancorp by 490.1% in the 2nd quarter. Signaturefd LLC now owns 537 shares of the financial services provider’s stock worth $39,000 after buying an additional 446 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.

Wall Street Analyst Weigh In

EWBC has been the subject of a number of recent research reports. Compass Point increased their target price on East West Bancorp from $93.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Stephens raised their price target on East West Bancorp from $91.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Piper Sandler raised their price target on East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. StockNews.com upgraded East West Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company raised their target price on East West Bancorp from $97.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, East West Bancorp presently has an average rating of “Moderate Buy” and an average target price of $102.25.

Insider Buying and Selling at East West Bancorp

In other news, insider Irene H. Oh sold 10,000 shares of East West Bancorp stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $98.50, for a total transaction of $985,000.00. Following the completion of the transaction, the insider now directly owns 117,193 shares in the company, valued at approximately $11,543,510.50. The trade was a 7.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of East West Bancorp stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total value of $1,279,320.00. Following the transaction, the insider now owns 45,403 shares of the company’s stock, valued at $4,840,413.83. This represents a 20.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,969 shares of company stock worth $2,458,276 over the last ninety days. 1.04% of the stock is currently owned by corporate insiders.

East West Bancorp Stock Up 0.2 %

Shares of East West Bancorp stock opened at $110.05 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92. The business’s 50 day simple moving average is $94.18 and its 200 day simple moving average is $83.22. The firm has a market cap of $15.26 billion, a PE ratio of 13.90, a P/E/G ratio of 3.23 and a beta of 1.27. East West Bancorp, Inc. has a 52-week low of $60.34 and a 52-week high of $113.95.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate 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 period last year, the company earned $2.02 earnings per share. On average, analysts predict that East West Bancorp, Inc. will post 8.37 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $0.55 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a yield of 2.00%. East West Bancorp’s dividend payout ratio is 27.78%.

East West Bancorp 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.