Claro Advisors LLC Buys Shares of 2,770 East West Bancorp, Inc. (NASDAQ:EWBC)

20 Nov 2024, 09:28 by Mitch Edgeman · The Markets Daily

Claro Advisors LLC bought a new position in East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,770 shares of the financial services provider’s stock, valued at approximately $229,000.

Other hedge funds have also modified their holdings of the company. Blair William & Co. IL grew its holdings in East West Bancorp by 5.4% in the first quarter. Blair William & Co. IL now owns 3,691 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 189 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in East West Bancorp by 1.5% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 33,054 shares of the financial services provider’s stock worth $2,579,000 after buying an additional 494 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in East West Bancorp by 49.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,565 shares of the financial services provider’s stock valued at $361,000 after buying an additional 1,511 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in East West Bancorp by 1.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 105,491 shares of the financial services provider’s stock valued at $8,343,000 after buying an additional 1,191 shares in the last quarter. Finally, Shell Asset Management Co. boosted its holdings in East West Bancorp by 20.1% in the first quarter. Shell Asset Management Co. now owns 13,038 shares of the financial services provider’s stock worth $1,031,000 after acquiring an additional 2,179 shares in the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Stock Up 0.4 %

EWBC stock opened at $104.23 on Wednesday. East West Bancorp, Inc. has a one year low of $60.34 and a one year high of $107.68. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92. The firm’s fifty day moving average is $90.18 and its 200 day moving average is $81.74. The firm has a market cap of $14.45 billion, a PE ratio of 13.16, a P/E/G ratio of 3.01 and a beta of 1.27.

East West Bancorp (NASDAQ:EWBC – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $641.80 million. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. During the same period last year, the firm earned $2.02 EPS. On average, research analysts forecast that East West Bancorp, Inc. will post 8.36 EPS for the current year.

East West Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $0.55 per share. The ex-dividend date was Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.11%. East West Bancorp’s dividend payout ratio (DPR) is 27.78%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Stephens boosted their target price on shares of East West Bancorp from $91.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Barclays upped their target price on East West Bancorp from $108.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Wedbush boosted their price target on East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. DA Davidson increased their price objective on East West Bancorp from $100.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Truist Financial lifted their target price on East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.25.

Read Our Latest Research Report on East West Bancorp

Insider Activity at East West Bancorp

In related news, Vice Chairman Douglas Paul Krause sold 12,000 shares of East West Bancorp stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total value of $1,279,320.00. Following the sale, the insider now directly owns 45,403 shares in the company, valued at approximately $4,840,413.83. The trade was a 20.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Rudolph Estrada sold 469 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total value of $45,980.76. Following the sale, the director now owns 17,750 shares of the company’s stock, valued at approximately $1,740,210. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,969 shares of company stock valued at $2,625,276. 1.04% of the stock is owned by company insiders.

East West Bancorp Company Profile

(Free Report)