Chicago Partners Investment Group LLC Takes Position in East West Bancorp, Inc. $EWBC

Key Points

• Chicago Partners Investment Group LLC acquired a new stake in East West Bancorp, purchasing 3,261 shares valued at approximately $347,000.
• East West Bancorp announced a quarterly dividend of $0.60, with a yield of 2.4%, to be paid on November 17th to shareholders of record on November 3rd.
• Shares of East West Bancorp have recently received positive coverage from several analysts, with an average target price of $123.85 and a consensus rating of "Moderate Buy."

Chicago Partners Investment Group LLC acquired a new stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 3,261 shares of the financial services provider's stock, valued at approximately $347,000.

Other institutional investors also recently made changes to their positions in the company. Park Place Capital Corp purchased a new stake in shares of East West Bancorp in the 2nd quarter valued at $27,000. Picton Mahoney Asset Management boosted its stake in shares of East West Bancorp by 1,971.4% in the 1st quarter. Picton Mahoney Asset Management now owns 290 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 276 shares in the last quarter. Chung Wu Investment Group LLC purchased a new stake in shares of East West Bancorp in the 2nd quarter valued at $30,000. WPG Advisers LLC purchased a new stake in shares of East West Bancorp in the 1st quarter valued at $28,000. Finally, American National Bank & Trust purchased a new stake in shares of East West Bancorp in the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 89.53% of the company's stock.

East West Bancorp Stock Down 0.4%

Shares of NASDAQ EWBC opened at $101.97 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.35. East West Bancorp, Inc. has a 12 month low of $68.27 and a 12 month high of $113.95. The firm has a market capitalization of $14.05 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.38 and a beta of 0.93. The firm has a fifty day simple moving average of $104.93 and a two-hundred day simple moving average of $97.86.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its quarterly earnings data on Monday, December 11th. The financial services provider reported $2.08 EPS for the quarter. East West Bancorp had a net margin of 27.16% and a return on equity of 15.55%. The business had revenue of $627.36 million during the quarter. Equities analysts expect that East West Bancorp, Inc. will post 8.85 earnings per share for the current year.

East West Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be issued a $0.60 dividend. The ex-dividend date is Monday, November 3rd. This represents a $2.40 annualized dividend and a yield of 2.4%. East West Bancorp's dividend payout ratio is 28.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of East West Bancorp in a research note on Wednesday, September 10th. They issued an "overweight" rating and a $124.00 price objective for the company. Piper Sandler upped their price target on shares of East West Bancorp from $100.00 to $104.00 and gave the company a "neutral" rating in a report on Monday, September 8th. Truist Financial upped their price target on shares of East West Bancorp from $112.00 to $116.00 and gave the company a "hold" rating in a report on Thursday. DA Davidson upped their price target on shares of East West Bancorp from $115.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, TD Cowen began coverage on shares of East West Bancorp in a report on Thursday, September 25th. They set a "buy" rating and a $139.00 price target for the company. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, East West Bancorp presently has a consensus rating of "Moderate Buy" and an average target price of $123.85.

Insider Activity at East West Bancorp

In related news, CEO Dominic Ng sold 40,000 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $103.38, for a total value of $4,135,200.00. Following the completion of the transaction, the chief executive officer directly owned 888,314 shares in the company, valued at $91,833,901.32. This trade represents a 4.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Irene H. Oh sold 15,051 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $106.73, for a total transaction of $1,606,393.23. Following the completion of the transaction, the insider owned 113,353 shares of the company's stock, valued at approximately $12,098,165.69. The trade was a 11.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,240 shares of company stock valued at $7,379,678 over the last quarter. Company insiders own 1.04% of the company's stock.

About East West Bancorp

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.

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