East West Bancorp, Inc. $EWBC Stock Holdings Increased by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in East West Bancorp, Inc. by 14.6%, owning 55,116 shares worth approximately $6 million.
• A number of analysts have set new price targets for East West Bancorp, with Cantor Fitzgerald initiating coverage with an "overweight" rating and a price target of $124.00.
• East West Bancorp recently paid a quarterly dividend of $0.60, representing a dividend yield of 2.3% and an annualized payout of $2.40.

Wealth Enhancement Advisory Services LLC lifted its stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 14.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,116 shares of the financial services provider's stock after purchasing an additional 7,023 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in East West Bancorp were worth $6,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in EWBC. Voloridge Investment Management LLC purchased a new stake in shares of East West Bancorp in the fourth quarter worth approximately $2,491,000. 111 Capital purchased a new stake in shares of East West Bancorp in the fourth quarter worth approximately $273,000. Versant Capital Management Inc lifted its position in shares of 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 worth $46,000 after purchasing an additional 245 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of East West Bancorp by 10,357.5% in the first quarter. GAMMA Investing LLC now owns 367,477 shares of the financial services provider's stock worth $32,985,000 after purchasing an additional 363,963 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its position in shares of East West Bancorp by 17.0% in the first quarter. 180 Wealth Advisors LLC now owns 13,593 shares of the financial services provider's stock worth $1,220,000 after purchasing an additional 1,976 shares in the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EWBC shares. Cantor Fitzgerald started coverage on shares of East West Bancorp in a research report on Wednesday, September 10th. They issued an "overweight" rating and a $124.00 price target for the company. Keefe, Bruyette & Woods raised their price objective on shares of East West Bancorp from $110.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Piper Sandler raised their price objective on shares of East West Bancorp from $100.00 to $104.00 and gave the company a "neutral" rating in a research report on Monday, September 8th. Wall Street Zen lowered shares of East West Bancorp from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Finally, DA Davidson raised their price objective on shares of East West Bancorp from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $116.64.

East West Bancorp Trading Down 0.5%

Shares of EWBC stock opened at $105.76 on Thursday. East West Bancorp, Inc. has a 12 month low of $68.27 and a 12 month high of $113.95. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.43. The business's 50 day moving average is $104.69 and its two-hundred day moving average is $95.50. The company has a market cap of $14.58 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.44 and a beta of 0.97.

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

East West Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 4th were paid a $0.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.3%. East West Bancorp's dividend payout ratio (DPR) is presently 28.04%.

Insider Activity at East West Bancorp

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

Want to see what other hedge funds are holding EWBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for East West Bancorp, Inc. (NASDAQ:EWBC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.