East West Bancorp, Inc. (NASDAQ:EWBC) Stake Boosted by RBA Wealth Management LLC

RBA Wealth Management LLC grew its holdings in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 6.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,285 shares of the financial services provider's stock after purchasing an additional 3,813 shares during the quarter. East West Bancorp makes up approximately 2.1% of RBA Wealth Management LLC's portfolio, making the stock its 14th largest holding. RBA Wealth Management LLC's holdings in East West Bancorp were worth $5,411,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in East West Bancorp by 12.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,971 shares of the financial services provider's stock valued at $10,062,000 after purchasing an additional 12,651 shares in the last quarter. Pacific Global Investment Management Co. lifted its stake in shares of East West Bancorp by 2.2% during the first quarter. Pacific Global Investment Management Co. now owns 26,616 shares of the financial services provider's stock valued at $2,389,000 after buying an additional 576 shares during the period. Oppenheimer & Co. Inc. boosted its position in East West Bancorp by 9.0% during the first quarter. Oppenheimer & Co. Inc. now owns 5,121 shares of the financial services provider's stock worth $460,000 after acquiring an additional 421 shares during the last quarter. Crumly & Associates Inc. grew its stake in East West Bancorp by 1.9% in the 1st quarter. Crumly & Associates Inc. now owns 9,229 shares of the financial services provider's stock worth $828,000 after acquiring an additional 174 shares during the period. Finally, Nilsine Partners LLC raised its holdings in East West Bancorp by 21.0% in the 1st quarter. Nilsine Partners LLC now owns 14,473 shares of the financial services provider's stock valued at $1,299,000 after acquiring an additional 2,515 shares during the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Stock Up 3.7%

Shares of NASDAQ EWBC traded up $3.77 during trading on Tuesday, reaching $104.75. 252,502 shares of the stock were exchanged, compared to its average volume of 927,586. The business's 50-day moving average price is $92.06 and its 200 day moving average price is $92.18. East West Bancorp, Inc. has a twelve month low of $68.27 and a twelve 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 0.45. The company has a market capitalization of $14.44 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.37 and a beta of 0.92.

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

East West Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were issued a dividend of $0.60 per share. The ex-dividend date was Friday, May 2nd. This represents a $2.40 annualized dividend and a yield of 2.29%. East West Bancorp's dividend payout ratio is presently 28.64%.

Analyst Ratings Changes

Several research firms recently commented on EWBC. DA Davidson dropped their target price on East West Bancorp from $118.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Truist Financial began coverage on East West Bancorp in a report on Tuesday, May 13th. They issued a "hold" rating and a $102.00 price target for the company. Barclays increased their price objective on shares of East West Bancorp from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Jefferies Financial Group began coverage on shares of East West Bancorp in a report on Wednesday, May 21st. They issued a "buy" rating and a $115.00 target price for the company. Finally, Morgan Stanley downgraded shares of East West Bancorp from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $118.00 to $90.00 in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $107.85.

Insider Buying and Selling

In other news, CEO Dominic Ng sold 40,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were 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 approximately $89,517,319.02. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lisa L. Kim sold 2,100 shares of the company's stock in a transaction on 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 sale, the executive vice president directly owned 14,849 shares in the company, valued at $1,411,248.96. This represents a 12.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company's stock.

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.