Janney Montgomery Scott LLC Acquires 18,166 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Janney Montgomery Scott LLC lifted its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 159.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 29,587 shares of the financial services provider’s stock after buying an additional 18,166 shares during the quarter. Janney Montgomery Scott LLC’s holdings in East West Bancorp were worth $2,448,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of EWBC. CIBC Asset Management Inc increased its holdings in East West Bancorp by 2.8% in the 2nd quarter. CIBC Asset Management Inc now owns 4,753 shares of the financial services provider’s stock valued at $348,000 after buying an additional 128 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of East West Bancorp by 3.8% during the 2nd 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 in the last quarter. US Bancorp DE lifted its position in shares of East West Bancorp by 7.8% during the 3rd quarter. US Bancorp DE now owns 1,949 shares of the financial services provider’s stock worth $161,000 after buying an additional 141 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in East West Bancorp by 4.4% in the third quarter. Bleakley Financial Group LLC now owns 3,550 shares of the financial services provider’s stock valued at $294,000 after buying an additional 148 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of East West Bancorp by 3.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,307 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 89.53% of the company’s stock.

Insider Transactions at East West Bancorp

In related news, Director Rudolph Estrada sold 469 shares of East West Bancorp stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total value of $45,980.76. Following the completion of the sale, the director now directly owns 17,750 shares in the company, valued at $1,740,210. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Irene H. Oh sold 10,000 shares of the stock in a transaction 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 sale, the insider now owns 117,193 shares in the company, valued at approximately $11,543,510.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rudolph Estrada sold 469 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 17,750 shares of the company’s stock, valued at $1,740,210. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,969 shares of company stock worth $1,345,956. Insiders own 1.04% of the company’s stock.

East West Bancorp Price Performance

Shares of EWBC opened at $105.98 on Tuesday. The company has a market capitalization of $14.69 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 2.97 and a beta of 1.27. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $87.39 and a 200 day moving average of $80.52. East West Bancorp, Inc. has a twelve month low of $55.62 and a twelve month high of $107.33.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $641.80 million. During the same period in the prior year, the company posted $2.02 EPS. As a group, equities research analysts anticipate that East West Bancorp, Inc. will post 8.34 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Monday, November 4th. East West Bancorp’s payout ratio is currently 27.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on EWBC shares. Truist Financial upped 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. Wedbush raised their price target on shares of East West Bancorp from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Morgan Stanley boosted their price target on shares of East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. DA Davidson lifted their price objective on East West Bancorp from $100.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays upped their price target on East West Bancorp from $108.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, East West Bancorp has a consensus rating of “Moderate Buy” and a consensus 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.