Wedmont Private Capital Raises Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Wedmont Private Capital grew its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 28.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,219 shares of the financial services provider’s stock after buying an additional 927 shares during the quarter. Wedmont Private Capital’s holdings in East West Bancorp were worth $351,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Riverview Trust Co bought a new position in shares of East West Bancorp in the 1st quarter worth $25,000. Rise Advisors LLC bought a new position in shares of East West Bancorp in the 1st quarter worth $30,000. Kapitalo Investimentos Ltda acquired a new position in East West Bancorp during the 4th quarter valued at about $29,000. Cullen Frost Bankers Inc. acquired a new position in East West Bancorp during the 2nd quarter valued at about $30,000. Finally, American Capital Advisory LLC acquired a new position in East West Bancorp during the 2nd quarter valued at about $31,000. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

East West Bancorp Stock Performance

Shares of EWBC stock opened at $88.33 on Friday. The business’s 50 day moving average is $81.13 and its two-hundred day moving average is $77.56. East West Bancorp, Inc. has a 12-month low of $50.23 and a 12-month high of $89.75. The company has a market capitalization of $12.29 billion, a P/E ratio of 11.12, a P/E/G ratio of 2.08 and a beta of 1.29. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

East West Bancorp (NASDAQ:EWBC) last announced 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 return on equity of 16.64% and a net margin of 25.40%. The business had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $631.61 million. During the same quarter in the prior year, the firm earned $2.20 earnings per share. The business’s revenue was down .9% compared to the same quarter last year. Analysts expect that East West Bancorp, Inc. will post 8.2 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

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

Analyst Ratings Changes

Several brokerages recently issued reports on EWBC. Piper Sandler upped their target price on East West Bancorp from $72.50 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Morgan Stanley boosted their price target on East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. StockNews.com upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Stephens upped their target price on East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group lowered their target price on East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.77.

Insider Buying and Selling at East West Bancorp

In related news, EVP Lisa L. Kim sold 6,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was 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 of the company’s stock, valued at approximately $1,486,343.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Lisa L. Kim sold 6,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was 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 of the company’s stock, valued at approximately $1,486,343.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack C. Liu sold 2,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the completion of the sale, the director now directly owns 16,557 shares of the company’s stock, valued at approximately $1,382,509.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,346 shares of company stock valued at $1,108,160 over the last quarter. 1.04% of the stock is currently owned by insiders.

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.