Palouse Capital Management Inc. Has $930,000 Stake in East West Bancorp, Inc. $EWBC

Palouse Capital Management Inc. lowered its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 62.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,204 shares of the financial services provider’s stock after selling 12,019 shares during the period. Palouse Capital Management Inc.’s holdings in East West Bancorp were worth $930,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of EWBC. Kelleher Financial Advisors acquired a new stake in East West Bancorp during the 3rd quarter valued at $31,000. Atlantic Union Bankshares Corp bought a new position in East West Bancorp in the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB boosted its stake in East West Bancorp by 44.7% in 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 in the last quarter. Signaturefd LLC boosted its stake in East West Bancorp by 115.0% in 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 in the last quarter. Finally, Quarry LP grew its holdings in shares of East West Bancorp by 35.4% during the third quarter. Quarry LP now owns 390 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 102 shares during the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $132.37, for a total transaction of $1,323,700.00. Following the transaction, the insider directly owned 36,974 shares in the company, valued at approximately $4,894,248.38. This represents a 21.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Irene H. Oh sold 800 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $133.19, for a total transaction of $106,552.00. Following the completion of the transaction, the insider directly owned 84,698 shares in the company, valued at $11,280,926.62. This trade represents a 0.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 32,511 shares of company stock valued at $4,177,721. Corporate insiders own 0.94% of the company’s stock.

Wall Street Analysts Forecast Growth

EWBC has been the subject of a number of research reports. Piper Sandler raised their target price on East West Bancorp from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. UBS Group upped their price target on shares of East West Bancorp from $125.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Barclays upped their price target on shares of East West Bancorp from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup restated a “buy” rating on shares of East West Bancorp in a research report on Thursday, July 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 target price on shares of East West Bancorp in a research note on Wednesday, July 22nd. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.62.

East West Bancorp Stock Down 1.0%

Shares of EWBC opened at $131.88 on Friday. The firm has a market capitalization of $18.07 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.55 and a beta of 0.94. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 0.88. The business’s fifty day moving average price is $129.74 and its two-hundred day moving average price is $120.53. East West Bancorp, Inc. has a 52 week low of $92.67 and a 52 week high of $136.24.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share 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 company had revenue of $791.14 million during the quarter, compared to the consensus estimate of $784.47 million. During the same quarter in the previous year, the company posted $2.24 earnings per share. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. On average, analysts predict that East West Bancorp, Inc. will post 10.59 earnings per share for the current year.

East West Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, August 3rd. East West Bancorp’s dividend payout ratio (DPR) is presently 30.77%.

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.