Corient Private Wealth LP Invests $2.36 Million in East West Bancorp, Inc. $EWBC

Corient Private Wealth LP bought a new stake in East West Bancorp, Inc. (NASDAQ:EWBC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,301 shares of the financial services provider’s stock, valued at approximately $2,362,000.

Several other hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its stake in East West Bancorp by 66.9% during the first quarter. Geneos Wealth Management Inc. now owns 801 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 321 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of East West Bancorp during the second quarter valued at approximately $274,000. Baird Financial Group Inc. bought a new position in shares of East West Bancorp during the second quarter valued at approximately $290,000. Marshall Wace LLP increased its stake in shares of East West Bancorp by 34.3% during the second quarter. Marshall Wace LLP now owns 3,223 shares of the financial services provider’s stock valued at $325,000 after purchasing an additional 823 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of East West Bancorp by 118.7% during the second quarter. Cerity Partners LLC now owns 35,335 shares of the financial services provider’s stock valued at $3,568,000 after purchasing an additional 19,178 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp Price Performance

Shares of EWBC opened at $128.97 on Thursday. The firm has a fifty day simple moving average of $131.31 and a two-hundred day simple moving average of $122.57. The firm has a market cap of $17.67 billion, a PE ratio of 12.40, a P/E/G ratio of 1.47 and a beta of 0.93. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.33. East West Bancorp, Inc. has a 1-year low of $92.67 and a 1-year high of $137.47.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.02. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The firm had revenue of $789.98 million for the quarter, compared to the consensus estimate of $784.47 million. During the same period last year, the business posted $2.24 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities analysts anticipate that East West Bancorp, Inc. will post 10.61 EPS for the current year.

East West Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were issued a $0.80 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. East West Bancorp’s dividend payout ratio is currently 30.77%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays boosted their price target on East West Bancorp from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Wells Fargo & Company initiated coverage on East West Bancorp in a research note on Monday, August 10th. They set an “overweight” rating and a $155.00 price objective for the company. Truist Financial boosted their target price on East West Bancorp from $128.00 to $136.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Morgan Stanley boosted their target price on East West Bancorp from $128.00 to $131.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $152.00 price target on shares of East West Bancorp in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $141.92.

Insiders Place Their Bets

In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $132.37, for a total value of $1,323,700.00. Following the transaction, the insider directly owned 36,974 shares of the company’s stock, valued at approximately $4,894,248.38. This trade represents a 21.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $135.02, for a total value of $135,020.00. Following the sale, the director owned 13,709 shares of the company’s stock, valued at approximately $1,850,989.18. This represents a 6.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 23,511 shares of company stock valued at $3,077,741. Insiders own 0.94% of the company’s stock.

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.