Abich Financial Wealth Management LLC Invests $76,000 in East West Bancorp, Inc. (NASDAQ:EWBC)

Abich Financial Wealth Management LLC bought a new stake in East West Bancorp, Inc. (NASDAQ:EWBC) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,036 shares of the financial services provider’s stock, valued at approximately $76,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its position in shares of East West Bancorp by 2.8% during the second 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 during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of East West Bancorp by 3.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,606 shares of the financial services provider’s stock worth $264,000 after buying an additional 133 shares during the period. OLD National Bancorp IN boosted its stake in shares of East West Bancorp by 6.4% during the second 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 period. Coldstream Capital Management Inc. grew its holdings in shares of East West Bancorp by 2.0% during the second quarter. Coldstream Capital Management Inc. now owns 9,372 shares of the financial services provider’s stock worth $686,000 after buying an additional 184 shares during the last quarter. Finally, Blair William & Co. IL increased its position in East West Bancorp by 5.4% in the 1st quarter. Blair William & Co. IL now owns 3,691 shares of the financial services provider’s stock valued at $292,000 after acquiring an additional 189 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Lisa L. Kim sold 6,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 18,891 shares in the company, valued at $1,486,343.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total value of $167,000.00. Following the completion of the transaction, the director now directly owns 16,557 shares of the company’s stock, valued at $1,382,509.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lisa L. Kim sold 6,000 shares of the 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 sale, the executive vice president now directly owns 18,891 shares in the company, valued at approximately $1,486,343.88. 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. Insiders own 1.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays lowered their target price on East West Bancorp from $106.00 to $105.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. StockNews.com upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. 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 research report on Friday, September 20th. Wells Fargo & Company lifted their target price on shares of East West Bancorp from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Wedbush boosted their price target on shares of East West Bancorp from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.33.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $81.32 on Wednesday. The firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 2.80 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. The business’s 50 day simple moving average is $81.46 and its 200-day simple moving average is $76.96. East West Bancorp, Inc. has a 12 month low of $49.59 and a 12 month high of $89.75.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.10. The company had revenue of $638.00 million for the quarter, compared to analyst estimates of $631.61 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. East West Bancorp’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.20 earnings per share. As a group, equities analysts forecast that East West Bancorp, Inc. will post 8.17 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The firm 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 of this dividend was Friday, August 2nd. This represents a $2.20 annualized dividend and a yield of 2.71%. East West Bancorp’s dividend payout ratio (DPR) is currently 27.71%.

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.