Atomi Financial Group Inc. Increases Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Atomi Financial Group Inc. lifted its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 29.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,833 shares of the financial services provider’s stock after purchasing an additional 880 shares during the period. Atomi Financial Group Inc.’s holdings in East West Bancorp were worth $317,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Asset Management Inc boosted its position in shares of East West Bancorp by 2.8% during the 2nd quarter. CIBC Asset Management Inc now owns 4,753 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 128 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in East West Bancorp by 3.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,606 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 133 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in East West Bancorp by 3.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,307 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 160 shares in the last quarter. OLD National Bancorp IN lifted its position in shares of East West Bancorp by 6.4% during the 2nd quarter. OLD National Bancorp IN now owns 2,923 shares of the financial services provider’s stock worth $214,000 after buying an additional 175 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in shares of East West Bancorp by 2.0% in the 2nd quarter. Coldstream Capital Management Inc. now owns 9,372 shares of the financial services provider’s stock valued at $686,000 after buying an additional 184 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

Insiders Place Their Bets

In other East West Bancorp news, EVP Gary Teo sold 3,450 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.73, for a total transaction of $302,668.50. Following the sale, the executive vice president now directly owns 15,875 shares in the company, valued at approximately $1,392,713.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Gary Teo sold 3,450 shares of East West Bancorp stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.73, for a total transaction of $302,668.50. Following the completion of the sale, the executive vice president now directly owns 15,875 shares in the company, valued at approximately $1,392,713.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rudolph Estrada sold 1,896 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.77, for a total value of $166,411.92. Following the completion of the sale, the director now owns 18,470 shares in the company, valued at approximately $1,621,111.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,346 shares of company stock worth $1,108,160. 1.04% of the stock is owned by corporate insiders.

East West Bancorp Stock Up 3.8 %

EWBC stock opened at $88.33 on Friday. The stock has a market capitalization of $12.29 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 2.08 and a beta of 1.29. The company has a fifty day moving average of $81.13 and a 200-day moving average of $77.56. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. East West Bancorp, Inc. has a one year low of $50.23 and a one year high of $89.75.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data 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 firm had revenue of $638.00 million during the quarter, compared to the consensus estimate of $631.61 million. During the same quarter last year, the firm earned $2.20 earnings per share. The firm’s revenue was down .9% compared to the same quarter last year. As a group, analysts expect that East West Bancorp, Inc. will post 8.2 EPS for the current year.

East West Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Friday, August 2nd. East West Bancorp’s dividend payout ratio is presently 27.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Stephens lifted their price target on shares of East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Truist Financial reduced their target price on East West Bancorp from $96.00 to $93.00 and set a “buy” rating for the company in a report on Friday, September 20th. Morgan Stanley raised their price target on East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Barclays boosted their price objective on East West Bancorp from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Finally, Wells Fargo & Company raised their target price on shares of East West Bancorp from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, East West Bancorp presently has an average rating of “Moderate Buy” and an average target price of $92.77.

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.