Cwm LLC Increases Stock Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Cwm LLC increased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBCGet Rating) by 25.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,477 shares of the financial services provider’s stock after buying an additional 295 shares during the period. Cwm LLC’s holdings in East West Bancorp were worth $99,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Great Valley Advisor Group Inc. lifted its holdings in East West Bancorp by 15.7% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 15,958 shares of the financial services provider’s stock valued at $1,034,000 after purchasing an additional 2,164 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in East West Bancorp by 167.0% in the 2nd quarter. Renaissance Technologies LLC now owns 237,733 shares of the financial services provider’s stock valued at $15,405,000 after purchasing an additional 148,700 shares in the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new position in East West Bancorp in the 2nd quarter valued at $278,000. Elizabeth Park Capital Advisors Ltd. lifted its holdings in East West Bancorp by 14.5% in the 2nd quarter. Elizabeth Park Capital Advisors Ltd. now owns 78,823 shares of the financial services provider’s stock valued at $5,108,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Strs Ohio lifted its holdings in East West Bancorp by 13.1% in the 2nd quarter. Strs Ohio now owns 15,636 shares of the financial services provider’s stock valued at $1,013,000 after purchasing an additional 1,806 shares in the last quarter. Hedge funds and other institutional investors own 88.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on EWBC shares. Morgan Stanley started coverage on East West Bancorp in a report on Monday, December 5th. They issued an “equal weight” rating and a $84.00 price objective on the stock. Piper Sandler raised their price objective on East West Bancorp to $75.00 in a report on Friday, September 30th. Wells Fargo & Company cut their target price on East West Bancorp from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, December 15th. Finally, StockNews.com started coverage on East West Bancorp in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $81.67.

East West Bancorp Stock Down 1.1 %

Shares of EWBC opened at $68.47 on Wednesday. East West Bancorp, Inc. has a 52-week low of $61.65 and a 52-week high of $93.51. The company has a market capitalization of $9.65 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 0.80 and a beta of 1.40. The stock has a fifty day simple moving average of $67.28 and a two-hundred day simple moving average of $69.60. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.08.

East West Bancorp (NASDAQ:EWBCGet Rating) last issued its quarterly earnings data on Thursday, October 20th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.01). The business had revenue of $627.36 million for the quarter, compared to analyst estimates of $621.36 million. East West Bancorp had a return on equity of 17.69% and a net margin of 44.11%. During the same period in the previous year, the business posted $1.57 earnings per share. As a group, equities analysts forecast that East West Bancorp, Inc. will post 7.77 EPS for the current year.

East West Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Monday, October 31st. East West Bancorp’s payout ratio is 22.63%.

Insider Buying and Selling

In related news, Vice Chairman Douglas Paul Krause sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $72.43, for a total transaction of $362,150.00. Following the completion of the sale, the insider now directly owns 52,435 shares of the company’s stock, valued at approximately $3,797,867.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.80% of the company’s stock.

About East West Bancorp

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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. It operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. The company accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.

See Also

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Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

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