Corient Private Wealth LP Invests $2.36 Million in East West Bancorp, Inc. $EWBC

Key Points

• Corient Private Wealth acquired 18,301 East West Bancorp shares worth approximately $2.36 million during the second quarter. Institutional investors collectively own 89.53% of EWBC, with BlackRock and other major firms also increasing or initiating positions.
• East West Bancorp exceeded quarterly earnings expectations, reporting $2.63 in EPS and $789.98 million in revenue, up 12.5% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $141.92.
• The company declared a quarterly dividend of $0.80 per share, equal to an annualized $3.20 and a 2.5% yield. Insiders have sold 23,511 shares worth approximately $3.08 million over the past 90 days.

Corient Private Wealth LP acquired a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 18,301 shares of the financial services provider's stock, valued at approximately $2,362,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in East West Bancorp in the 2nd quarter worth approximately $1,744,958,000. Northwestern Mutual Wealth Management Co. grew its position in East West Bancorp by 84,090.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider's stock valued at $596,967,000 after acquiring an additional 5,305,257 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in East West Bancorp by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,981,065 shares of the financial services provider's stock valued at $559,822,000 after acquiring an additional 106,998 shares during the last quarter. First Trust Advisors LP raised its stake in shares of East West Bancorp by 7.1% during the fourth quarter. First Trust Advisors LP now owns 4,620,772 shares of the financial services provider's stock worth $519,329,000 after acquiring an additional 306,916 shares in the last quarter. Finally, Boston Partners raised its stake in shares of East West Bancorp by 19.6% during the third quarter. Boston Partners now owns 3,874,737 shares of the financial services provider's stock worth $412,464,000 after acquiring an additional 633,649 shares in the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Stock Performance

NASDAQ:EWBC opened at $128.97 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 0.88. East West Bancorp, Inc. has a fifty-two week low of $92.67 and a fifty-two week high of $137.47. The firm has a market cap of $17.67 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.47 and a beta of 0.93. The business has a 50 day moving average price of $131.31 and a 200-day moving average price of $122.57.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $2.63 EPS for the quarter, topping the consensus estimate of $2.61 by $0.02. The company had revenue of $789.98 million for the quarter, compared to the consensus estimate of $784.47 million. East West Bancorp had a net margin of 30.45% and a return on equity of 16.07%. The firm's revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.24 earnings per share. Equities research analysts predict that East West Bancorp, Inc. will post 10.61 earnings per share for the current year.

East West Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. East West Bancorp's dividend payout ratio is presently 30.77%.

Insiders Place Their Bets

In related news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $132.37, for a total transaction of $1,323,700.00. Following the completion of the transaction, the insider owned 36,974 shares in the company, valued at $4,894,248.38. This represents a 21.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack C. Liu sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $135.02, for a total value of $135,020.00. Following the transaction, the director owned 13,709 shares of the company's stock, valued at approximately $1,850,989.18. This represents a 6.80% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 23,511 shares of company stock worth $3,077,741. 0.94% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

EWBC has been the subject of a number of research reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of East West Bancorp in a research note on Friday, July 10th. Wall Street Zen upgraded shares of East West Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Stephens boosted their price target on shares of East West Bancorp from $129.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 22nd. Citigroup restated a "buy" rating on shares of East West Bancorp in a research report on Thursday, July 23rd. Finally, Truist Financial raised their price objective on East West Bancorp from $128.00 to $136.00 and gave the company a "hold" rating in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $141.92.

About East West Bancorp

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.

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