Orion Porfolio Solutions LLC Grows Stock Holdings in East West Bancorp, Inc. $EWBC

Orion Porfolio Solutions LLC lifted its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 135.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,540 shares of the financial services provider’s stock after buying an additional 12,392 shares during the quarter. Orion Porfolio Solutions LLC’s holdings in East West Bancorp were worth $2,293,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Grove Bank & Trust grew its position in East West Bancorp by 82.6% in the 3rd quarter. Grove Bank & Trust now owns 336 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 152 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of East West Bancorp during the third quarter worth about $38,000. Wilmington Savings Fund Society FSB lifted its position in shares of East West Bancorp by 44.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 113 shares in the last quarter. Assetmark Inc. boosted its stake in shares of East West Bancorp by 179.9% in the second quarter. Assetmark Inc. now owns 375 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 241 shares during the period. Finally, Root Financial Partners LLC purchased a new position in shares of East West Bancorp in the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $107.65 on Wednesday. East West Bancorp, Inc. has a 52 week low of $68.27 and a 52 week high of $123.82. The company has a 50-day moving average price of $115.25 and a 200 day moving average price of $109.57. The company has a market cap of $14.81 billion, a P/E ratio of 11.31, a PEG ratio of 1.39 and a beta of 0.90. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Thursday, January 22nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.04. The company had revenue of $753.79 million for the quarter, compared to analysts’ expectations of $745.04 million. East West Bancorp had a return on equity of 15.72% and a net margin of 28.36%.During the same quarter in the previous year, the firm posted $2.10 EPS. Research analysts predict that East West Bancorp, Inc. will post 8.85 earnings per share for the current year.

East West Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were given a $0.80 dividend. The ex-dividend date was Monday, February 2nd. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.60. This represents a $3.20 annualized dividend and a yield of 3.0%. East West Bancorp’s dividend payout ratio (DPR) is currently 33.61%.

Insider Buying and Selling

In other East West Bancorp news, insider Irene H. Oh sold 7,453 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $113.90, for a total value of $848,896.70. Following the completion of the sale, the insider owned 85,714 shares of the company’s stock, valued at approximately $9,762,824.60. This trade represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Molly Campbell sold 1,800 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $122.81, for a total transaction of $221,058.00. Following the sale, the director owned 5,756 shares in the company, valued at $706,894.36. The trade was a 23.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 119,065 shares of company stock valued at $13,857,314 in the last quarter. Corporate insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on EWBC. Truist Financial set a $121.00 target price on shares of East West Bancorp in a research note on Friday, January 23rd. TD Cowen dropped their price target on shares of East West Bancorp from $141.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, January 26th. Morgan Stanley upped their price objective on East West Bancorp from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Barclays increased their price target on East West Bancorp from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Finally, UBS Group set a $125.00 price objective on East West Bancorp in a report on Wednesday, February 4th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $129.21.

East West Bancorp Company 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.