3,279 Shares in East West Bancorp, Inc. (NASDAQ:EWBC) Purchased by Crosspoint Financial LLC

Crosspoint Financial LLC bought a new position in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,279 shares of the financial services provider's stock, valued at approximately $294,000. East West Bancorp accounts for about 0.9% of Crosspoint Financial LLC's holdings, making the stock its 23rd biggest position.

Several other hedge funds also recently made changes to their positions in EWBC. Vanguard Group Inc. increased its position in East West Bancorp by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 14,197,068 shares of the financial services provider's stock valued at $1,359,511,000 after purchasing an additional 70,503 shares during the period. FMR LLC increased its position in East West Bancorp by 1.4% during the 4th quarter. FMR LLC now owns 7,990,468 shares of the financial services provider's stock valued at $765,167,000 after purchasing an additional 107,665 shares during the period. Invesco Ltd. increased its position in East West Bancorp by 17.0% during the 4th quarter. Invesco Ltd. now owns 3,018,504 shares of the financial services provider's stock valued at $289,052,000 after purchasing an additional 437,676 shares during the period. Schroder Investment Management Group increased its position in East West Bancorp by 6.9% during the 4th quarter. Schroder Investment Management Group now owns 2,831,862 shares of the financial services provider's stock valued at $272,652,000 after purchasing an additional 183,675 shares during the period. Finally, Boston Partners increased its position in East West Bancorp by 23.1% during the 4th quarter. Boston Partners now owns 2,383,284 shares of the financial services provider's stock valued at $228,269,000 after purchasing an additional 447,057 shares during the period. 89.53% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Stock Up 1.0%

Shares of EWBC stock traded up $1.05 on Monday, hitting $108.00. The stock had a trading volume of 652,424 shares, compared to its average volume of 932,014. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average price of $96.04 and a 200 day moving average price of $92.83. The company has a market cap of $14.88 billion, a PE ratio of 12.89, a P/E/G ratio of 1.45 and a beta of 0.93. East West Bancorp, Inc. has a one year low of $68.27 and a one year high of $113.95.

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

East West Bancorp Announces Dividend

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

Insider Transactions at East West Bancorp

In related news, CEO Dominic Ng sold 40,000 shares of East West Bancorp 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 completion of the sale, the chief executive officer owned 928,314 shares of the company's stock, valued at $89,517,319.02. The trade was a 4.13% 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 2,100 shares of East West Bancorp stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $95.04, for a total value of $199,584.00. Following the sale, the executive vice president directly owned 14,849 shares of the company's stock, valued at $1,411,248.96. This trade represents a 12.39% decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EWBC. Citigroup upped their target price on shares of East West Bancorp from $100.00 to $116.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen downgraded shares of East West Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Barclays upped their target price on shares of East West Bancorp from $110.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company upped their target price on shares of East West Bancorp from $100.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Jefferies Financial Group began coverage on shares of East West Bancorp in a research report on Wednesday, May 21st. They issued a "buy" rating and a $115.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $112.85.

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.