2,180 Shares in East West Bancorp, Inc. (NASDAQ:EWBC) Bought by Brooklyn Investment Group

Brooklyn Investment Group acquired a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,180 shares of the financial services provider’s stock, valued at approximately $180,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Jupiter Asset Management Ltd. acquired a new position in East West Bancorp during the 2nd quarter worth $59,460,000. Millennium Management LLC boosted its position in East West Bancorp by 152.1% during the 2nd quarter. Millennium Management LLC now owns 374,213 shares of the financial services provider’s stock worth $27,404,000 after acquiring an additional 225,799 shares during the period. Miller Howard Investments Inc. NY boosted its position in East West Bancorp by 30.6% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 649,708 shares of the financial services provider’s stock worth $47,578,000 after acquiring an additional 152,334 shares during the period. Westfield Capital Management Co. LP boosted its position in East West Bancorp by 39.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 520,656 shares of the financial services provider’s stock worth $43,079,000 after acquiring an additional 148,530 shares during the period. Finally, FMR LLC boosted its position in East West Bancorp by 1.8% during the 3rd quarter. FMR LLC now owns 7,882,803 shares of the financial services provider’s stock worth $652,223,000 after acquiring an additional 136,528 shares during the period. 89.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Molly Campbell sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $98.65, for a total transaction of $147,975.00. Following the completion of the sale, the director now owns 10,639 shares in the company, valued at $1,049,537.35. This represents a 12.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rudolph Estrada sold 469 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $98.04, for a total value of $45,980.76. Following the sale, the director now owns 17,750 shares of the company’s stock, valued at approximately $1,740,210. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,969 shares of company stock valued at $2,458,276 in the last three months. Insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Compass Point boosted their price target on East West Bancorp from $93.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Morgan Stanley boosted their price target on East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Wedbush upped their price objective on East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upped their price objective on East West Bancorp from $97.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Stephens upped their price objective on East West Bancorp from $91.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.25.

East West Bancorp Trading Up 0.2 %

Shares of NASDAQ EWBC opened at $110.05 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp, Inc. has a 12 month low of $60.34 and a 12 month high of $113.95. The business has a fifty day simple moving average of $94.18 and a 200-day simple moving average of $83.22. The company has a market cap of $15.26 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 3.23 and a beta of 1.27.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. During the same period in the prior year, the firm posted $2.02 EPS. Sell-side analysts predict that East West Bancorp, Inc. will post 8.37 EPS for the current year.

East West Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.00%. The ex-dividend date was Monday, November 4th. East West Bancorp’s payout ratio is currently 27.78%.

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.