East West Bancorp, Inc. $EWBC Shares Purchased by Noesis Capital Mangement Corp

Noesis Capital Mangement Corp increased its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 34.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,373 shares of the financial services provider’s stock after purchasing an additional 4,423 shares during the period. Noesis Capital Mangement Corp’s holdings in East West Bancorp were worth $1,953,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Foster Dykema Cabot & Partners LLC acquired a new position in shares of East West Bancorp during the third quarter worth $26,000. Atlantic Union Bankshares Corp purchased a new stake in East West Bancorp in the fourth quarter valued at $31,000. Kelleher Financial Advisors purchased a new stake in East West Bancorp in the third quarter valued at $31,000. Wilmington Savings Fund Society FSB lifted its position in East West Bancorp by 44.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 113 shares during the last quarter. Finally, Signaturefd LLC lifted its position in East West Bancorp by 115.0% in the fourth quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 184 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

Analysts Set New Price Targets

EWBC has been the subject of a number of research reports. Stephens boosted their price target on shares of East West Bancorp from $120.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, January 26th. TD Cowen boosted their price target on shares of East West Bancorp from $137.00 to $143.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Barclays reduced their price target on shares of East West Bancorp from $150.00 to $142.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Piper Sandler boosted their price target on shares of East West Bancorp from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Finally, Truist Financial boosted their price target on shares of East West Bancorp from $120.00 to $128.00 and gave the company a “hold” rating in a research report on Thursday, April 23rd. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.36.

Insider Activity

In other East West Bancorp news, Director Archana Deskus sold 1,800 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $125.55, for a total transaction of $225,990.00. Following the transaction, the director directly owned 13,231 shares in the company, valued at approximately $1,661,152.05. This represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Dominic Ng sold 30,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $123.49, for a total transaction of $3,704,700.00. Following the completion of the sale, the chief executive officer owned 707,930 shares in the company, valued at $87,422,275.70. This represents a 4.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.94% of the company’s stock.

East West Bancorp Trading Down 0.9%

Shares of East West Bancorp stock opened at $119.41 on Friday. East West Bancorp, Inc. has a 52-week low of $88.26 and a 52-week high of $127.51. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. The company’s 50-day simple moving average is $113.86 and its 200-day simple moving average is $112.47. The firm has a market cap of $16.36 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 1.46 and a beta of 0.97.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.11. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. The business had revenue of $773.75 million for the quarter, compared to analyst estimates of $767.80 million. During the same period in the previous year, the business posted $2.08 earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year. As a group, equities research analysts anticipate that East West Bancorp, Inc. will post 10.6 earnings per share for the current year.

East West Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 18th. Shareholders of record on Monday, May 4th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, May 4th. East West Bancorp’s dividend payout ratio is presently 31.97%.

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.