Sanctuary Advisors LLC Takes Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Sanctuary Advisors LLC purchased a new position in East West Bancorp, Inc. (NASDAQ:EWBC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,600 shares of the financial services provider’s stock, valued at approximately $2,097,000.

A number of other large investors also recently modified their holdings of EWBC. Miller Howard Investments Inc. NY purchased a new position in East West Bancorp during the first quarter worth about $39,347,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of East West Bancorp during the first quarter worth about $3,961,000. Manning & Napier Advisors LLC bought a new position in shares of East West Bancorp in the second quarter worth approximately $3,832,000. Inspire Investing LLC raised its stake in East West Bancorp by 197.8% in the first quarter. Inspire Investing LLC now owns 15,860 shares of the financial services provider’s stock valued at $1,255,000 after purchasing an additional 10,535 shares in the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in East West Bancorp during the first quarter valued at approximately $909,000. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp Trading Down 0.1 %

NASDAQ:EWBC opened at $83.12 on Wednesday. The firm has a market capitalization of $11.57 billion, a P/E ratio of 10.47, a P/E/G ratio of 2.80 and a beta of 1.29. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $80.96 and a 200 day moving average of $77.37. East West Bancorp, Inc. has a 52 week low of $50.23 and a 52 week high of $89.75.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the firm posted $2.20 earnings per share. The company’s quarterly revenue was down .9% compared to the same quarter last year. On average, research analysts predict that East West Bancorp, Inc. will post 8.17 earnings per share for the current year.

East West Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were paid 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 dividend yield of 2.65%. East West Bancorp’s dividend payout ratio (DPR) is presently 27.71%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays raised their price objective on shares of East West Bancorp from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Truist Financial lowered their price target on East West Bancorp from $96.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Wells Fargo & Company upped their price objective on East West Bancorp from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Piper Sandler raised their price objective on East West Bancorp from $72.50 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Jefferies Financial Group cut their target price on East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.43.

Insider Activity at East West Bancorp

In other East West Bancorp news, EVP Lisa L. Kim sold 6,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $78.68, for a total transaction of $472,080.00. Following the transaction, the executive vice president now directly owns 18,891 shares of the company’s stock, valued at approximately $1,486,343.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total transaction of $167,000.00. Following the sale, the director now directly owns 16,557 shares in the company, valued at $1,382,509.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lisa L. Kim sold 6,000 shares of the company’s stock in a transaction 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 directly owns 18,891 shares in the company, valued at approximately $1,486,343.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,346 shares of company stock worth $1,108,160 over the last quarter. 1.04% of the stock is owned by corporate insiders.

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.