Avior Wealth Management LLC Purchases Shares of 6,577 East West Bancorp, Inc. (NASDAQ:EWBC)

Avior Wealth Management LLC purchased a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 6,577 shares of the financial services provider’s stock, valued at approximately $473,000.

Several other hedge funds have also recently made changes to their positions in the business. Federated Hermes Inc. grew its stake in East West Bancorp by 5.0% during the third quarter. Federated Hermes Inc. now owns 31,667 shares of the financial services provider’s stock worth $1,669,000 after purchasing an additional 1,501 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of East West Bancorp by 92.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 48,562 shares of the financial services provider’s stock worth $2,560,000 after buying an additional 23,361 shares during the period. Vanguard Group Inc. lifted its position in shares of East West Bancorp by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 15,243,818 shares of the financial services provider’s stock valued at $803,502,000 after acquiring an additional 215,281 shares during the period. Trillium Asset Management LLC lifted its position in shares of East West Bancorp by 12.2% during the 3rd quarter. Trillium Asset Management LLC now owns 279,179 shares of the financial services provider’s stock valued at $14,715,000 after acquiring an additional 30,466 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in East West Bancorp by 8.1% during the third quarter. The Manufacturers Life Insurance Company now owns 676,615 shares of the financial services provider’s stock worth $35,664,000 after acquiring an additional 50,799 shares in the last quarter. 89.53% of the stock is owned by institutional investors.

East West Bancorp Trading Up 0.3 %

NASDAQ:EWBC opened at $71.80 on Friday. East West Bancorp, Inc. has a 52 week low of $41.12 and a 52 week high of $79.54. The firm has a 50-day moving average price of $74.34 and a two-hundred day moving average price of $67.55. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 8.78, a price-to-earnings-growth ratio of 0.91 and a beta of 1.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 0.91.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. The business had revenue of $654.70 million for the quarter, compared to analysts’ expectations of $641.91 million. East West Bancorp had a return on equity of 18.47% and a net margin of 29.11%. The business’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.37 earnings per share. On average, equities analysts expect that East West Bancorp, Inc. will post 7.86 earnings per share for the current fiscal year.

East West Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Friday, February 2nd were paid a $0.55 dividend. This is an increase from East West Bancorp’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, February 1st. This represents a $2.20 annualized dividend and a yield of 3.06%. East West Bancorp’s dividend payout ratio is presently 26.89%.

Insider Buying and Selling at East West Bancorp

In other news, Director Molly Campbell sold 1,625 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total transaction of $125,547.50. Following the transaction, the director now owns 10,321 shares of the company’s stock, valued at approximately $797,400.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Molly Campbell sold 1,625 shares of East West Bancorp stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the sale, the director now owns 10,321 shares of the company’s stock, valued at approximately $797,400.46. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $73.58, for a total transaction of $147,160.00. Following the sale, the director now directly owns 16,739 shares in the company, valued at $1,231,655.62. The disclosure for this sale can be found here. 0.91% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EWBC shares. Barclays initiated coverage on shares of East West Bancorp in a report on Friday, March 8th. They set an “overweight” rating and a $106.00 price objective on the stock. Compass Point increased their price target on East West Bancorp from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Morgan Stanley boosted their price objective on East West Bancorp from $76.00 to $89.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Truist Financial increased their target price on East West Bancorp from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Jefferies Financial Group boosted their price target on shares of East West Bancorp from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.15.

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.