Los Angeles Capital Management LLC Acquires Shares of 71,941 East West Bancorp, Inc. (NASDAQ:EWBC)

Los Angeles Capital Management LLC bought a new stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 71,941 shares of the financial services provider's stock, valued at approximately $5,952,000. Los Angeles Capital Management LLC owned approximately 0.05% of East West Bancorp at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EWBC. BNP Paribas Financial Markets increased its position in shares of East West Bancorp by 120.1% during the 1st quarter. BNP Paribas Financial Markets now owns 21,226 shares of the financial services provider's stock worth $1,679,000 after purchasing an additional 11,582 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of East West Bancorp during the first quarter worth about $897,000. Oppenheimer & Co. Inc. boosted its stake in shares of East West Bancorp by 7.7% during the first quarter. Oppenheimer & Co. Inc. now owns 6,915 shares of the financial services provider's stock worth $547,000 after buying an additional 494 shares during the period. State Board of Administration of Florida Retirement System increased its stake in East West Bancorp by 1.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 168,659 shares of the financial services provider's stock valued at $13,343,000 after buying an additional 3,176 shares during the period. Finally, Lord Abbett & CO. LLC increased its position in East West Bancorp by 112.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,441,198 shares of the financial services provider's stock worth $114,013,000 after purchasing an additional 762,958 shares during the period. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at East West Bancorp

In other news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $83.50, for a total transaction of $167,000.00. Following the sale, the director now directly owns 16,557 shares in the company, valued at approximately $1,382,509.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Molly Campbell sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $98.65, for a total value of $147,975.00. Following the transaction, the director now owns 10,639 shares of the company's stock, valued at approximately $1,049,537.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack C. Liu sold 2,000 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the completion of the transaction, the director now directly owns 16,557 shares of the company's stock, valued at approximately $1,382,509.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,969 shares of company stock worth $1,345,956 in the last 90 days. 1.04% of the stock is owned by company insiders.

East West Bancorp Stock Up 0.6 %

Shares of East West Bancorp stock traded up $0.61 during trading hours on Tuesday, hitting $106.59. 317,332 shares of the company's stock traded hands, compared to its average volume of 934,131. East West Bancorp, Inc. has a twelve month low of $55.62 and a twelve month high of $107.33. The stock has a 50 day simple moving average of $87.83 and a 200-day simple moving average of $80.72. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market cap of $14.77 billion, a PE ratio of 13.38, a PEG ratio of 2.97 and a beta of 1.27.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.06 by $0.03. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $641.80 million. During the same quarter last year, the company earned $2.02 EPS. Equities research analysts anticipate that East West Bancorp, Inc. will post 8.34 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.55 per share. The ex-dividend date is Monday, November 4th. This represents a $2.20 annualized dividend and a yield of 2.06%. East West Bancorp's dividend payout ratio (DPR) is presently 27.78%.

Wall Street Analyst Weigh In

EWBC has been the subject of a number of recent research reports. StockNews.com upgraded shares of East West Bancorp from a "sell" rating to a "hold" rating in a report on Tuesday, October 29th. Stephens boosted their price target on East West Bancorp from $91.00 to $104.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. DA Davidson upped their target price on East West Bancorp from $100.00 to $107.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Piper Sandler boosted their price target on shares of East West Bancorp from $87.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Finally, Compass Point boosted their price objective on shares of East West Bancorp from $93.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, East West Bancorp has an average rating of "Moderate Buy" and a consensus target price of $102.25.

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.