Sanctuary Advisors LLC Makes New Investment in East West Bancorp, Inc. $EWBC

Sanctuary Advisors LLC purchased a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,706 shares of the financial services provider's stock, valued at approximately $3,577,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in EWBC. Solstein Capital LLC bought a new position in shares of East West Bancorp in the second quarter worth about $27,000. Atlantic Union Bankshares Corp bought a new stake in East West Bancorp during the 4th quarter valued at approximately $31,000. Kelleher Financial Advisors acquired a new stake in East West Bancorp in the 3rd quarter valued at approximately $31,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in East West Bancorp in the 2nd quarter valued at approximately $37,000. Finally, Danske Bank A S bought a new position in East West Bancorp in the 2nd quarter worth approximately $39,000. 89.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EWBC. Weiss Ratings reissued a "buy (b)" rating on shares of East West Bancorp in a research report on Friday, July 10th. Stephens boosted their target price on shares of East West Bancorp from $129.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 22nd. Citigroup reiterated a "buy" rating on shares of East West Bancorp in a research note on Thursday, July 23rd. DA Davidson increased their price target on shares of East West Bancorp from $150.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Finally, Morgan Stanley raised their price target on shares of East West Bancorp from $128.00 to $131.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $141.92.

Insider Transactions at East West Bancorp

In related news, insider Irene H. Oh sold 11,211 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $129.00, for a total transaction of $1,446,219.00. Following the completion of the transaction, the insider owned 85,998 shares in the company, valued at $11,093,742. This trade represents a 11.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the company's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $132.37, for a total value of $1,323,700.00. Following the completion of the sale, the insider owned 36,974 shares in the company, valued at $4,894,248.38. This trade represents a 21.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 23,511 shares of company stock valued at $3,077,741. Corporate insiders own 0.94% of the company's stock.

East West Bancorp Stock Performance

Shares of NASDAQ EWBC opened at $129.43 on Wednesday. The firm has a market capitalization of $17.73 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.49 and a beta of 0.94. East West Bancorp, Inc. has a one year low of $92.67 and a one year high of $137.47. The business has a fifty day simple moving average of $131.30 and a 200 day simple moving average of $122.20. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.33.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.61 by $0.02. East West Bancorp had a net margin of 30.45% and a return on equity of 16.07%. The firm had revenue of $789.98 million for the quarter, compared to the consensus estimate of $784.47 million. During the same quarter in the previous year, the company earned $2.24 earnings per share. The business's revenue was up 12.5% compared to the same quarter last year. Sell-side analysts expect that East West Bancorp, Inc. will post 10.61 EPS for the current year.

East West Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, August 3rd. East West Bancorp's payout ratio is presently 30.77%.

East West Bancorp Profile

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.

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