Kestra Private Wealth Services LLC Makes New $415,000 Investment in East West Bancorp, Inc. (NASDAQ:EWBC)

Key Points

• Kestra Private Wealth Services LLC has made a new investment of approximately $415,000 in East West Bancorp, purchasing 4,624 shares during the first quarter.
• The CEO, Dominic Ng, sold 40,000 shares for approximately $3.86 million, leading to a 4.13% decrease in his ownership of the company.
• East West Bancorp recently announced a quarterly dividend of $0.60, with an annualized yield of 2.32%, set to be paid on August 15th.

Kestra Private Wealth Services LLC purchased a new position in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,624 shares of the financial services provider's stock, valued at approximately $415,000.

Several other large investors also recently modified their holdings of EWBC. Xponance Inc. grew its stake in East West Bancorp by 1.9% in the first quarter. Xponance Inc. now owns 16,141 shares of the financial services provider's stock valued at $1,449,000 after purchasing an additional 302 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in East West Bancorp by 25.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 28,287 shares of the financial services provider's stock worth $2,539,000 after purchasing an additional 5,654 shares during the last quarter. SG Americas Securities LLC increased its stake in East West Bancorp by 470.9% during the 1st quarter. SG Americas Securities LLC now owns 7,559 shares of the financial services provider's stock worth $678,000 after acquiring an additional 6,235 shares during the period. Cerity Partners LLC increased its stake in East West Bancorp by 35.9% during the 1st quarter. Cerity Partners LLC now owns 16,157 shares of the financial services provider's stock worth $1,450,000 after acquiring an additional 4,271 shares during the period. Finally, FORA Capital LLC bought a new position in East West Bancorp during the 4th quarter worth $1,072,000. 89.53% of the stock is currently owned by institutional investors.

Insider Transactions at East West Bancorp

In related news, CEO Dominic Ng sold 40,000 shares of the company's stock in a transaction that occurred on 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 directly owned 928,314 shares of the company's stock, valued at approximately $89,517,319.02. This represents a 4.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa L. Kim sold 2,100 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $95.04, for a total value of $199,584.00. Following the transaction, the executive vice president directly owned 14,849 shares in the company, valued at approximately $1,411,248.96. This trade represents a 12.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

East West Bancorp Stock Up 0.1%

Shares of NASDAQ:EWBC opened at $103.61 on Friday. The company has a market capitalization of $14.28 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 1.41 and a beta of 0.93. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.89. The business's 50-day moving average is $98.97 and its 200-day moving average is $93.60. East West Bancorp, Inc. has a 1 year low of $68.27 and a 1 year high of $113.95.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, beating 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 firm's revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.07 EPS. Equities research analysts predict that East West Bancorp, Inc. will post 8.85 earnings per share for the current year.

East West Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, August 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, August 4th. East West Bancorp's dividend payout ratio is 28.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on EWBC shares. Barclays lifted their price target 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. Morgan Stanley lowered East West Bancorp from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $118.00 to $90.00 in a research report on Monday, April 7th. Truist Financial lifted their target price on East West Bancorp from $102.00 to $110.00 and gave the stock a "hold" rating in a report on Friday, July 11th. Citigroup lifted their target price on East West Bancorp from $100.00 to $116.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen raised East West Bancorp from a "sell" rating to a "hold" rating in a report on Saturday. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $114.15.

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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