East West Bancorp, Inc. $EWBC Holdings Raised by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. boosted its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 7,433.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 9,191 shares of the financial services provider’s stock after purchasing an additional 9,069 shares during the period. Contravisory Investment Management Inc.’s holdings in East West Bancorp were worth $1,139,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EWBC. NorthCrest Asset Manangement LLC lifted its position in East West Bancorp by 7.8% in the third quarter. NorthCrest Asset Manangement LLC now owns 19,417 shares of the financial services provider’s stock valued at $2,451,000 after acquiring an additional 1,401 shares during the last quarter. Riversedge Advisors LLC purchased a new position in East West Bancorp in the 3rd quarter valued at approximately $316,000. Wedmont Private Capital raised its stake in shares of East West Bancorp by 109.3% during the 3rd quarter. Wedmont Private Capital now owns 8,966 shares of the financial services provider’s stock worth $1,132,000 after buying an additional 4,683 shares during the last quarter. GAMMA Investing LLC grew its holdings in East West Bancorp by 23.7% during the 3rd quarter. GAMMA Investing LLC now owns 7,638 shares of the financial services provider’s stock valued at $947,000 after buying an additional 1,461 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in East West Bancorp by 71.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,696 shares of the financial services provider’s stock worth $334,000 after purchasing an additional 1,119 shares in the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Manuel Alvarez sold 810 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $130.40, for a total transaction of $105,624.00. Following the completion of the sale, the director directly owned 10,629 shares of the company’s stock, valued at approximately $1,386,021.60. The trade was a 7.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jack C. Liu sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $135.02, for a total transaction of $135,020.00. Following the transaction, the director owned 13,709 shares in the company, valued at approximately $1,850,989.18. The trade was a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,810 shares of company stock worth $1,564,344 over the last 90 days. 0.94% of the stock is owned by insiders.

East West Bancorp Stock Performance

NASDAQ EWBC traded down $0.51 during midday trading on Tuesday, hitting $125.05. The company had a trading volume of 812,153 shares, compared to its average volume of 960,481. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.33. The stock has a market cap of $17.13 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.37 and a beta of 0.98. The firm has a fifty day simple moving average of $129.09 and a two-hundred day simple moving average of $125.79. East West Bancorp, Inc. has a fifty-two week low of $92.67 and a fifty-two week high of $137.47.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.02. The firm had revenue of $789.98 million during the quarter, compared to analyst estimates of $784.47 million. East West Bancorp had a net margin of 30.45% and a return on equity of 16.07%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.24 earnings per share. Equities analysts forecast that East West Bancorp, Inc. will post 10.64 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, August 3rd. East West Bancorp’s dividend payout ratio (DPR) is presently 30.77%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. TD Cowen increased their target price on East West Bancorp from $148.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. DA Davidson upped their price target on shares of East West Bancorp from $150.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Stephens increased their price objective on shares of East West Bancorp from $129.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company cut their price objective on East West Bancorp from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, September 29th. Finally, Truist Financial reduced their price objective on shares of East West Bancorp from $137.00 to $131.00 and set a “hold” rating for the company in a research note on Friday. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.08.

East West Bancorp Company Profile

East West Bancorp, Inc is the parent company of East West Bank, a full-service commercial bank headquartered in Pasadena, California. Founded in 1973, the bank serves consumers, businesses, institutions and nonprofit organizations through a range of banking and financial services.

East West Bank offers deposit accounts, commercial and residential real estate lending, commercial and industrial loans, trade finance, treasury management, wealth management and other personal and business banking products.