Wealth Enhancement Advisory Services LLC Buys 3,460 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Wealth Enhancement Advisory Services LLC increased its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 7.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,093 shares of the financial services provider's stock after purchasing an additional 3,460 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in East West Bancorp were worth $4,317,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in East West Bancorp in the 4th quarter valued at about $26,000. Venturi Wealth Management LLC increased its position in East West Bancorp by 73.2% in the 4th quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 175 shares in the last quarter. Versant Capital Management Inc increased its position in East West Bancorp by 89.7% in the 1st quarter. Versant Capital Management Inc now owns 518 shares of the financial services provider's stock valued at $46,000 after acquiring an additional 245 shares in the last quarter. Farther Finance Advisors LLC increased its position in East West Bancorp by 119.1% in the 4th quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 306 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in East West Bancorp in the 4th quarter valued at about $100,000. Institutional investors and hedge funds own 89.53% of the company's stock.

East West Bancorp Trading Down 0.6%

Shares of NASDAQ EWBC traded down $0.64 during mid-day trading on Friday, hitting $101.11. The company's stock had a trading volume of 1,304,149 shares, compared to its average volume of 930,858. The company's fifty day simple moving average is $91.56 and its 200-day simple moving average is $92.18. East West Bancorp, Inc. has a one year low of $68.27 and a one year high of $113.95. The stock has a market cap of $13.93 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 1.37 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.89 and a quick ratio of 0.89.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $693.00 million for the quarter, compared to analyst estimates of $673.02 million. On average, sell-side analysts anticipate that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Friday, May 2nd. East West Bancorp's payout ratio is 28.64%.

Insider Buying and Selling

In other East West Bancorp news, CEO Dominic Ng sold 40,000 shares of East West Bancorp stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.43, for a total value of $3,857,200.00. Following the transaction, the chief executive officer now owns 928,314 shares of the company's stock, valued at approximately $89,517,319.02. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lisa L. Kim sold 2,100 shares of East West Bancorp stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 14,849 shares in the company, valued at approximately $1,411,248.96. The trade was a 12.39% decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of East West Bancorp from $120.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Truist Financial assumed coverage on shares of East West Bancorp in a research report on Tuesday, May 13th. They issued a "hold" rating and a $102.00 price objective for the company. Barclays raised their price objective on shares of East West Bancorp from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Jefferies Financial Group started coverage on shares of East West Bancorp in a research report on Wednesday, May 21st. They issued a "buy" rating and a $115.00 price objective for the company. Finally, DA Davidson reduced their target price on shares of East West Bancorp from $118.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $107.85.

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.