Burney Co. Takes Position in East West Bancorp, Inc. $EWBC

Burney Co. acquired a new stake in East West Bancorp, Inc. (NASDAQ:EWBC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,293 shares of the financial services provider’s stock, valued at approximately $938,000.

Other large investors also recently modified their holdings of the company. Park Place Capital Corp bought a new position in shares of East West Bancorp in the second quarter valued at approximately $27,000. Picton Mahoney Asset Management raised its stake in shares of East West Bancorp by 1,971.4% during the first quarter. Picton Mahoney Asset Management now owns 290 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 276 shares in the last quarter. Chung Wu Investment Group LLC purchased a new position in shares of East West Bancorp during the second quarter worth approximately $30,000. WPG Advisers LLC purchased a new position in shares of East West Bancorp during the first quarter worth approximately $28,000. Finally, American National Bank & Trust purchased a new position in shares of East West Bancorp in the second quarter worth $32,000. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp Trading Down 0.5%

Shares of NASDAQ:EWBC opened at $99.96 on Wednesday. East West Bancorp, Inc. has a 12-month low of $68.27 and a 12-month high of $113.95. 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 company has a market cap of $13.78 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 1.12 and a beta of 0.93. The stock has a 50 day moving average of $104.66 and a 200 day moving average of $99.85.

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

East West Bancorp Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. UBS Group decreased their target price on shares of East West Bancorp from $118.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 28th. Piper Sandler lifted their price target on shares of East West Bancorp from $100.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, September 8th. Wall Street Zen upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Morgan Stanley lifted their price target on shares of East West Bancorp from $111.00 to $126.00 and gave the company an “underperform” rating in a report on Monday, September 29th. Finally, TD Cowen initiated coverage on shares of East West Bancorp in a report on Thursday, September 25th. They set a “buy” rating and a $139.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $124.08.

Insider Buying and Selling at East West Bancorp

In other news, Director Molly Campbell sold 980 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $101.02, for a total transaction of $98,999.60. Following the transaction, the director owned 11,076 shares of the company’s stock, valued at approximately $1,118,897.52. This represents a 8.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Irene H. Oh sold 15,051 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $106.73, for a total value of $1,606,393.23. Following the transaction, the insider directly owned 113,353 shares in the company, valued at $12,098,165.69. The trade was a 11.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 41,220 shares of company stock worth $4,343,878. Insiders own 1.04% of the company’s stock.

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.