Infrastructure Capital Advisors LLC Purchases New Stake in East West Bancorp, Inc. (NASDAQ:EWBC)

Infrastructure Capital Advisors LLC purchased a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,093 shares of the financial services provider’s stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new position in East West Bancorp in the 2nd quarter worth $3,832,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in East West Bancorp in the 3rd quarter worth $4,157,000. Janney Montgomery Scott LLC raised its holdings in East West Bancorp by 159.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 29,587 shares of the financial services provider’s stock worth $2,448,000 after purchasing an additional 18,166 shares in the last quarter. Quest Partners LLC raised its holdings in East West Bancorp by 830,133.3% in the 3rd quarter. Quest Partners LLC now owns 24,907 shares of the financial services provider’s stock worth $2,061,000 after purchasing an additional 24,904 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in East West Bancorp in the 2nd quarter worth $852,000. 89.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at East West Bancorp

In other news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total value of $1,279,320.00. Following the transaction, the insider now owns 45,403 shares in the company, valued at $4,840,413.83. This represents a 20.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Irene H. Oh sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $98.50, for a total transaction of $985,000.00. Following the completion of the transaction, the insider now owns 117,193 shares in the company, valued at $11,543,510.50. This trade represents a 7.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,969 shares of company stock worth $2,458,276. Company insiders own 1.04% of the company’s stock.

East West Bancorp Price Performance

EWBC opened at $110.05 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $15.26 billion, a P/E ratio of 13.90, a P/E/G ratio of 3.19 and a beta of 1.27. The company’s 50-day simple moving average is $94.72 and its two-hundred day simple moving average is $83.41. East West Bancorp, Inc. has a 52-week low of $60.34 and a 52-week high of $113.95.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $641.80 million. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. During the same quarter in the prior year, the business earned $2.02 EPS. As a group, analysts predict that East West Bancorp, Inc. will post 8.38 EPS for the current year.

East West Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.00%. The ex-dividend date was Monday, November 4th. East West Bancorp’s dividend payout ratio is currently 27.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. DA Davidson upped their target price on shares of East West Bancorp from $100.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Piper Sandler upped their target price on shares of East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Citigroup upped their target price on shares of East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company upped their target price on shares of East West Bancorp from $97.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $102.25.

East West Bancorp 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.