Noesis Capital Mangement Corp Has $1.31 Million Stake in East West Bancorp, Inc. $EWBC

Noesis Capital Mangement Corp decreased its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,950 shares of the financial services provider’s stock after selling 400 shares during the quarter. Noesis Capital Mangement Corp’s holdings in East West Bancorp were worth $1,308,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Invesco Ltd. lifted its holdings in shares of East West Bancorp by 155.6% in the 1st quarter. Invesco Ltd. now owns 7,714,661 shares of the financial services provider’s stock worth $692,468,000 after purchasing an additional 4,696,157 shares in the last quarter. Earnest Partners LLC bought a new position in shares of East West Bancorp in the 1st quarter worth $137,390,000. Nuveen LLC bought a new position in shares of East West Bancorp in the 1st quarter worth $83,330,000. Westfield Capital Management Co. LP lifted its holdings in shares of East West Bancorp by 203.0% in the 1st quarter. Westfield Capital Management Co. LP now owns 817,306 shares of the financial services provider’s stock worth $73,361,000 after purchasing an additional 547,556 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of East West Bancorp by 6,571.1% in the 1st quarter. Wellington Management Group LLP now owns 460,241 shares of the financial services provider’s stock worth $41,311,000 after purchasing an additional 453,342 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. TD Cowen assumed coverage on East West Bancorp in a report on Thursday, September 25th. They issued a “buy” rating and a $139.00 target price on the stock. Truist Financial increased their target price on East West Bancorp from $112.00 to $116.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. Cowen assumed coverage on East West Bancorp in a report on Wednesday, September 24th. They issued a “buy” rating on the stock. Weiss Ratings cut East West Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. Finally, Cantor Fitzgerald assumed coverage on East West Bancorp in a research note on Wednesday, September 10th. They set an “overweight” rating and a $124.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, East West Bancorp presently has an average rating of “Moderate Buy” and an average price target of $124.08.

Insider Transactions at East West Bancorp

In other news, EVP Gary Teo sold 6,550 shares of East West Bancorp stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $106.47, for a total transaction of $697,378.50. Following the sale, the executive vice president directly owned 12,235 shares in the company, valued at $1,302,660.45. The trade was a 34.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Irene H. Oh sold 7,639 shares of East West Bancorp stock in a transaction on Monday, September 8th. The stock was sold at an average price of $109.40, for a total value of $835,706.60. Following the sale, the insider owned 105,714 shares in the company, valued at $11,565,111.60. The trade was a 6.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,240 shares of company stock worth $3,244,478 in the last ninety days. Company insiders own 1.04% of the company’s stock.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $99.83 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.35. The stock’s fifty day simple moving average is $104.93 and its two-hundred day simple moving average is $98.99. East West Bancorp, Inc. has a 1-year low of $68.27 and a 1-year high of $113.95. The stock has a market cap of $13.76 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 1.13 and a beta of 0.93.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Monday, December 11th. The financial services provider reported $2.08 earnings per share for the quarter. East West Bancorp had a return on equity of 15.55% and a net margin of 27.16%.The business had revenue of $627.36 million for the quarter. As a group, analysts forecast that East West Bancorp, Inc. will post 8.85 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, November 3rd. East West Bancorp’s payout ratio is presently 26.46%.

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.