Claro Advisors LLC Takes $229,000 Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Claro Advisors LLC purchased a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,770 shares of the financial services provider’s stock, valued at approximately $229,000.

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

Insiders Place Their Bets

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

East West Bancorp Trading Up 0.4 %

EWBC opened at $104.23 on Wednesday. East West Bancorp, Inc. has a 52 week low of $60.34 and a 52 week high of $107.68. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $90.18 and a 200-day simple moving average of $81.74. The firm has a market cap of $14.45 billion, a P/E ratio of 13.16, a P/E/G ratio of 3.01 and a beta of 1.27.

East West Bancorp (NASDAQ:EWBC) last announced 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 company had revenue of $1.16 billion during 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 business posted $2.02 EPS. On average, equities analysts expect that East West Bancorp, Inc. will post 8.36 earnings per share for the current year.

East West Bancorp Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently weighed in on EWBC. Piper Sandler boosted their price target on shares of East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Compass Point boosted their target price on shares of East West Bancorp from $93.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Barclays raised their price target on shares of East West Bancorp from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Morgan Stanley upped their price objective on East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, DA Davidson raised their target price on East West Bancorp from $100.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.25.

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.