Claro Advisors LLC Buys Shares of 2,770 East West Bancorp, Inc. (NASDAQ:EWBC)

Claro Advisors LLC bought a new position in East West Bancorp, Inc. (NASDAQ:EWBC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,770 shares of the financial services provider’s stock, valued at approximately $229,000.

Other hedge funds have also modified their holdings of the company. Blair William & Co. IL grew its holdings in East West Bancorp by 5.4% in the first quarter. Blair William & Co. IL now owns 3,691 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 189 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in East West Bancorp by 1.5% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 33,054 shares of the financial services provider’s stock worth $2,579,000 after buying an additional 494 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in East West Bancorp by 49.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,565 shares of the financial services provider’s stock valued at $361,000 after buying an additional 1,511 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in East West Bancorp by 1.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 105,491 shares of the financial services provider’s stock valued at $8,343,000 after buying an additional 1,191 shares in the last quarter. Finally, Shell Asset Management Co. boosted its holdings in East West Bancorp by 20.1% in the first quarter. Shell Asset Management Co. now owns 13,038 shares of the financial services provider’s stock worth $1,031,000 after acquiring an additional 2,179 shares in the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Stock Up 0.4 %

EWBC stock opened at $104.23 on Wednesday. East West Bancorp, Inc. has a one year low of $60.34 and a one year high of $107.68. 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 firm’s fifty day moving average is $90.18 and its 200 day moving average is $81.74. The firm has a market cap of $14.45 billion, a PE ratio of 13.16, a P/E/G ratio of 3.01 and a beta of 1.27.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $641.80 million. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. During the same period last year, the firm earned $2.02 EPS. On average, research analysts forecast that East West Bancorp, Inc. will post 8.36 EPS for the current year.

East West Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $0.55 per share. The ex-dividend date was Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.11%. East West Bancorp’s dividend payout ratio (DPR) is 27.78%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Stephens boosted their target price on shares of East West Bancorp from $91.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Barclays upped their target price on East West Bancorp from $108.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Wedbush boosted their price target on East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. DA Davidson increased their price objective on East West Bancorp from $100.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Truist Financial lifted their target price on East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.25.

Insider Activity at East West Bancorp

In related news, Vice Chairman Douglas Paul Krause sold 12,000 shares of East West Bancorp stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total value of $1,279,320.00. Following the sale, the insider now directly owns 45,403 shares in the company, valued at approximately $4,840,413.83. The trade was a 20.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Rudolph Estrada sold 469 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total value of $45,980.76. Following the sale, the director now owns 17,750 shares of the company’s stock, valued at approximately $1,740,210. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,969 shares of company stock valued at $2,625,276. 1.04% of the stock is owned by company insiders.

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.