Angel Oak Capital Advisors LLC Invests $1.02 Million in East West Bancorp, Inc. (NASDAQ:EWBC)

Angel Oak Capital Advisors LLC acquired a new stake in East West Bancorp, Inc. (NASDAQ:EWBC) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,600 shares of the financial services provider’s stock, valued at approximately $1,015,000. East West Bancorp accounts for 1.3% of Angel Oak Capital Advisors LLC’s holdings, making the stock its 13th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EWBC. CWM LLC lifted its stake in shares of East West Bancorp by 109.1% in the 3rd quarter. CWM LLC now owns 3,818 shares of the financial services provider’s stock valued at $316,000 after purchasing an additional 1,992 shares during the period. Creative Planning increased its holdings in East West Bancorp by 6.6% in the third quarter. Creative Planning now owns 16,094 shares of the financial services provider’s stock valued at $1,332,000 after purchasing an additional 992 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in East West Bancorp by 4.4% in the third quarter. Bleakley Financial Group LLC now owns 3,550 shares of the financial services provider’s stock valued at $294,000 after buying an additional 148 shares during the period. Blue Trust Inc. lifted its stake in East West Bancorp by 15.1% in the third quarter. Blue Trust Inc. now owns 3,451 shares of the financial services provider’s stock valued at $286,000 after buying an additional 454 shares during the period. Finally, First Citizens Bank & Trust Co. boosted its holdings in East West Bancorp by 5.5% during the third quarter. First Citizens Bank & Trust Co. now owns 3,178 shares of the financial services provider’s stock worth $263,000 after buying an additional 165 shares during the last quarter. 89.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EWBC. 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 note on Tuesday, December 10th. UBS Group started coverage on shares of East West Bancorp in a report on Tuesday, December 17th. They issued a “neutral” rating and a $112.00 target price on the stock. Keefe, Bruyette & Woods boosted their price target on shares of East West Bancorp from $96.00 to $128.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler reduced their target price on East West Bancorp from $100.00 to $97.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Finally, Truist Financial boosted their target price on East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.38.

Insiders Place Their Bets

In other East West Bancorp news, Director Jack C. Liu sold 1,275 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $104.53, for a total transaction of $133,275.75. Following the sale, the director now directly owns 14,557 shares of the company’s stock, valued at approximately $1,521,643.21. This represents a 8.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.04% of the company’s stock.

East West Bancorp Trading Up 0.9 %

East West Bancorp stock opened at $98.57 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.91 and a quick ratio of 0.92. The firm has a 50-day moving average of $99.26 and a 200-day moving average of $93.23. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 1.36 and a beta of 1.30. East West Bancorp, Inc. has a one year low of $68.78 and a one year high of $113.95.

East West Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.43%. This is an increase from East West Bancorp’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Monday, February 3rd. East West Bancorp’s dividend payout ratio (DPR) is currently 28.81%.

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.