Crosspoint Financial LLC Buys New Shares in East West Bancorp, Inc. (NASDAQ:EWBC)

Crosspoint Financial LLC bought a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 3,279 shares of the financial services provider's stock, valued at approximately $294,000. East West Bancorp accounts for approximately 0.9% of Crosspoint Financial LLC's portfolio, making the stock its 23rd largest holding.

A number of other institutional investors also recently modified their holdings of EWBC. Marshall & Sterling Wealth Advisors Inc. acquired a new position in East West Bancorp during the fourth quarter worth $26,000. Versant Capital Management Inc raised its holdings in East West Bancorp by 89.7% during the first quarter. Versant Capital Management Inc now owns 518 shares of the financial services provider's stock worth $46,000 after buying an additional 245 shares during the last quarter. Grove Bank & Trust raised its holdings in East West Bancorp by 448.9% during the first quarter. Grove Bank & Trust now owns 516 shares of the financial services provider's stock worth $46,000 after buying an additional 422 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in East West Bancorp by 119.1% during the fourth quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider's stock worth $54,000 after buying an additional 306 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in East West Bancorp during the fourth quarter worth $100,000. Institutional investors and hedge funds own 89.53% of the company's stock.

East West Bancorp Price Performance

EWBC opened at $108.14 on Friday. The firm has a market cap of $14.90 billion, a P/E ratio of 12.90, a PEG ratio of 1.45 and a beta of 0.93. The firm has a 50-day moving average of $95.68 and a 200 day moving average of $92.82. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.89 and a current ratio of 0.89. East West Bancorp, Inc. has a fifty-two week low of $68.27 and a fifty-two week high of $113.95.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.04. The company had revenue of $693.00 million during the quarter, compared to analyst estimates of $673.02 million. East West Bancorp had a net margin of 25.73% and a return on equity of 15.23%. On average, research analysts expect that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $2.40 annualized dividend and a yield of 2.22%. East West Bancorp's payout ratio is currently 28.64%.

Analyst Ratings Changes

Several research firms have weighed in on EWBC. Barclays upped their price objective on shares of East West Bancorp from $110.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday. Truist Financial began coverage on shares of East West Bancorp in a report on Tuesday, May 13th. They set a "hold" rating and a $102.00 price objective on the stock. Morgan Stanley downgraded shares of East West Bancorp from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $118.00 to $90.00 in a report on Monday, April 7th. Jefferies Financial Group initiated coverage on shares of East West Bancorp in a research note on Wednesday, May 21st. They issued a "buy" rating and a $115.00 target price for the company. Finally, Wall Street Zen lowered shares of East West Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $112.23.

Insider Activity

In other East West Bancorp news, EVP Lisa L. Kim sold 2,100 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $95.04, for a total transaction of $199,584.00. Following the completion of the transaction, the executive vice president owned 14,849 shares in the company, valued at $1,411,248.96. This trade represents a 12.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dominic Ng sold 40,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.43, for a total transaction of $3,857,200.00. Following the transaction, the chief executive officer owned 928,314 shares of the company's stock, valued at $89,517,319.02. This represents a 4.13% decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by corporate insiders.

East West Bancorp Company 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.

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