Ariadne Wealth Management LP Makes New $714,000 Investment in East West Bancorp, Inc. (NASDAQ:EWBC)

Ariadne Wealth Management LP acquired a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,749 shares of the financial services provider’s stock, valued at approximately $714,000.

Several other institutional investors also recently modified their holdings of EWBC. Riverview Trust Co bought a new position in East West Bancorp during the first quarter worth about $25,000. YHB Investment Advisors Inc. acquired a new position in East West Bancorp in the 1st quarter valued at approximately $27,000. Rise Advisors LLC bought a new stake in shares of East West Bancorp in the 1st quarter valued at about $30,000. Kapitalo Investimentos Ltda bought a new position in East West Bancorp during the 4th quarter worth approximately $29,000. Finally, Cullen Frost Bankers Inc. acquired a new position in East West Bancorp in the second quarter valued at $30,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Stock Up 1.5 %

Shares of NASDAQ:EWBC opened at $82.74 on Tuesday. East West Bancorp, Inc. has a 1 year low of $49.59 and a 1 year high of $89.75. The firm has a market capitalization of $11.51 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 2.80 and a beta of 1.29. The business has a 50 day simple moving average of $81.50 and a two-hundred day simple moving average of $77.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.10. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The business had revenue of $638.00 million for the quarter, compared to the consensus estimate of $631.61 million. During the same quarter last year, the firm posted $2.20 EPS. The company’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities analysts predict that East West Bancorp, Inc. will post 8.17 EPS for the current year.

East West Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Friday, August 2nd. East West Bancorp’s dividend payout ratio is presently 27.71%.

Insider Buying and Selling at East West Bancorp

In other news, EVP Gary Teo sold 3,450 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.73, for a total transaction of $302,668.50. Following the transaction, the executive vice president now owns 15,875 shares in the company, valued at approximately $1,392,713.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Gary Teo sold 3,450 shares of East West Bancorp stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.73, for a total transaction of $302,668.50. Following the transaction, the executive vice president now owns 15,875 shares in the company, valued at approximately $1,392,713.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa L. Kim sold 6,000 shares of East West Bancorp stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $78.68, for a total value of $472,080.00. Following the completion of the sale, the executive vice president now owns 18,891 shares in the company, valued at approximately $1,486,343.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,346 shares of company stock worth $1,108,160. Insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

EWBC has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Monday. Wedbush lifted their price objective on shares of East West Bancorp from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Truist Financial cut their price objective on shares of East West Bancorp from $96.00 to $93.00 and set a “buy” rating for the company in a report on Friday, September 20th. Wells Fargo & Company upped their target price on East West Bancorp from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler increased their target price on East West Bancorp from $72.50 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.73.

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.