Jackson Creek Investment Advisors LLC Invests $1.52 Million in East West Bancorp, Inc. $EWBC

Jackson Creek Investment Advisors LLC purchased a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 13,490 shares of the financial services provider’s stock, valued at approximately $1,516,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in EWBC. Foster Dykema Cabot & Partners LLC bought a new stake in shares of East West Bancorp during the third quarter worth about $26,000. Kelleher Financial Advisors bought a new stake in shares of East West Bancorp during the third quarter worth about $31,000. Atlantic Union Bankshares Corp bought a new stake in shares of East West Bancorp during the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB grew its holdings 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 during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of East West Bancorp by 115.0% during the fourth quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 184 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $124.70 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. East West Bancorp, Inc. has a twelve month low of $88.97 and a twelve month high of $127.51. The stock’s 50 day moving average is $116.11 and its 200-day moving average is $113.63. The firm has a market capitalization of $17.08 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.51 and a beta of 0.97.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.11. The company had revenue of $773.75 million for the quarter, compared to analyst estimates of $767.80 million. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.East West Bancorp’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 earnings per share. Sell-side analysts forecast that East West Bancorp, Inc. will post 10.6 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 18th. Investors of record on Monday, May 4th 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 of this dividend was Monday, May 4th. East West Bancorp’s dividend payout ratio is presently 31.97%.

Analysts Set New Price Targets

Several analysts have recently weighed in on EWBC shares. TD Cowen boosted their price target on East West Bancorp from $137.00 to $143.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $133.00 target price on shares of East West Bancorp in a report on Wednesday, April 22nd. Piper Sandler upped their target price on East West Bancorp from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, April 27th. DA Davidson upped their target price on East West Bancorp from $135.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, UBS Group upped their target price on East West Bancorp from $125.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, East West Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.69.

Insider Buying and Selling at East West Bancorp

In other news, CEO Dominic Ng sold 30,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was 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 directly owned 707,930 shares of the company’s stock, valued at $87,422,275.70. This trade represents a 4.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Archana Deskus sold 1,800 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $125.55, for a total value of $225,990.00. Following the sale, the director directly owned 13,231 shares of the company’s stock, valued at approximately $1,661,152.05. This represents a 11.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company 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.