Erste Asset Management GmbH Makes New $2.17 Million Investment in East West Bancorp, Inc. (NASDAQ:EWBC)

Erste Asset Management GmbH acquired a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 26,583 shares of the financial services provider’s stock, valued at approximately $2,167,000.

Other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in East West Bancorp in the 3rd quarter valued at $25,000. Cullen Frost Bankers Inc. bought a new position in shares of East West Bancorp during the second quarter worth about $30,000. UMB Bank n.a. boosted its stake 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 valued at $30,000 after purchasing an additional 283 shares during the last quarter. American Capital Advisory LLC bought a new stake in East West Bancorp in the second quarter worth approximately $31,000. Finally, Signaturefd LLC grew its stake 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 valued at $39,000 after buying an additional 446 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

East West Bancorp Price Performance

Shares of East West Bancorp stock opened at $107.01 on Wednesday. The business has a 50-day moving average price of $96.28 and a 200 day moving average price of $84.14. East West Bancorp, Inc. has a twelve month low of $65.35 and a twelve month high of $113.95. The firm has a market cap of $14.83 billion, a PE ratio of 13.51, a P/E/G ratio of 3.14 and a beta of 1.28. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46.

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

East West Bancorp Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 2.06%. East West Bancorp’s dividend payout ratio (DPR) is currently 27.78%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup boosted their price target 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. Piper Sandler boosted their price target on shares of East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Stephens raised their target price on shares of East West Bancorp from $91.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. DA Davidson upped their price objective on East West Bancorp from $100.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Wedbush lifted their target price on shares of East West Bancorp from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.50.

Insiders Place Their Bets

In other East West Bancorp news, Director Molly Campbell sold 1,500 shares of East West Bancorp stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $98.65, for a total value of $147,975.00. Following the transaction, the director now owns 10,639 shares in the company, valued at $1,049,537.35. This trade represents a 12.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 45,403 shares of the company’s stock, valued at $4,840,413.83. The trade was a 20.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,969 shares of company stock worth $2,458,276. 1.04% of the stock is owned by insiders.

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.