Secure Asset Management LLC Reduces Stock Holdings in East West Bancorp, Inc. $EWBC

Key Points

• Secure Asset Management LLC decreased its stake in East West Bancorp by 38.1% during the second quarter, reducing its holdings to 14,445 shares valued at approximately $1.46 million.
• East West Bancorp recently announced a quarterly dividend of $0.60 per share, representing a 2.2% dividend yield with a payout ratio of 28.04%.
• Research analysts are optimistic about East West Bancorp, with many upgrading their price targets, including DA Davidson raising it from $115.00 to $125.00 and Citigroup from $124.00 to $134.00, signaling a strong buy sentiment.

Secure Asset Management LLC decreased its position in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 38.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 14,445 shares of the financial services provider's stock after selling 8,893 shares during the period. Secure Asset Management LLC's holdings in East West Bancorp were worth $1,459,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Picton Mahoney Asset Management grew its holdings in East West Bancorp by 1,971.4% in the first 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 during the last quarter. WPG Advisers LLC acquired a new stake in East West Bancorp in the first quarter valued at $28,000. SVB Wealth LLC acquired a new stake in East West Bancorp in the first quarter valued at $29,000. Ransom Advisory Ltd grew its holdings in East West Bancorp by 60.0% in the second quarter. Ransom Advisory Ltd now owns 400 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 150 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in East West Bancorp by 89.7% in the first quarter. Versant Capital Management Inc now owns 518 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 245 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company's stock.

Analyst Upgrades and Downgrades

EWBC has been the topic of several research reports. DA Davidson upped their target price on East West Bancorp from $115.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Piper Sandler upped their target price on 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 increased their price objective on East West Bancorp from $102.00 to $110.00 and gave the company a "hold" rating in a research note on Friday, July 11th. Wall Street Zen lowered East West Bancorp from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Finally, Barclays increased their price objective on East West Bancorp from $110.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, East West Bancorp presently has an average rating of "Moderate Buy" and a consensus price target of $116.64.

East West Bancorp Trading Down 2.0%

NASDAQ EWBC traded down $2.21 during trading hours on Monday, hitting $106.74. 883,504 shares of the company's stock were exchanged, compared to its average volume of 978,750. The business's 50 day moving average is $104.65 and its 200-day moving average is $95.35. 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 $14.71 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 1.48 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.89 and a current ratio of 0.89.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.28 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.05. The company had revenue of $705.00 million for the quarter, compared to the consensus estimate of $702.04 million. East West Bancorp had a return on equity of 15.09% and a net margin of 26.06%.The company's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business posted $2.07 EPS. As a group, analysts anticipate that East West Bancorp, Inc. will post 8.85 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Monday, August 4th. East West Bancorp's dividend payout ratio (DPR) is 28.04%.

Insider Transactions at East West Bancorp

In other news, EVP Gary Teo sold 6,550 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $106.47, for a total value of $697,378.50. Following the transaction, the executive vice president directly owned 12,235 shares in the company, valued at $1,302,660.45. This trade represents a 34.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jack C. Liu sold 1,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $105.00, for a total value of $105,000.00. Following the completion of the transaction, the director owned 14,974 shares in the company, valued at approximately $1,572,270. This trade represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,240 shares of company stock valued at $7,379,678. 1.04% of the stock is owned by company 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.