Commerce Bank Purchases New Position in East West Bancorp, Inc. $EWBC

Commerce Bank purchased a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 15,912 shares of the financial services provider’s stock, valued at approximately $2,054,000.

A number of other large investors have also added to or reduced their stakes in EWBC. Geneos Wealth Management Inc. raised its holdings in shares of East West Bancorp by 66.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 801 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 321 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of East West Bancorp in the second quarter valued at $274,000. Baird Financial Group Inc. purchased a new position in shares of East West Bancorp in the second quarter valued at $290,000. Marshall Wace LLP increased its position in East West Bancorp by 34.3% in the second quarter. Marshall Wace LLP now owns 3,223 shares of the financial services provider’s stock worth $325,000 after purchasing an additional 823 shares during the last quarter. Finally, Cerity Partners LLC increased its position in East West Bancorp by 118.7% in the second quarter. Cerity Partners LLC now owns 35,335 shares of the financial services provider’s stock worth $3,568,000 after purchasing an additional 19,178 shares during the last quarter. Institutional investors own 89.53% of the company’s stock.

Insider Buying and Selling

In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $132.37, for a total value of $1,323,700.00. Following the completion of the sale, the insider owned 36,974 shares of the company’s stock, valued at $4,894,248.38. This trade represents a 21.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Irene H. Oh sold 11,211 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $129.00, for a total transaction of $1,446,219.00. Following the completion of the sale, the insider directly owned 85,998 shares of the company’s stock, valued at approximately $11,093,742. The trade was a 11.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 23,511 shares of company stock valued at $3,077,741. Company insiders own 0.94% of the company’s stock.

East West Bancorp Stock Up 0.4%

Shares of EWBC opened at $129.43 on Wednesday. The company has a market cap of $17.73 billion, a PE ratio of 12.45, a P/E/G ratio of 1.49 and a beta of 0.94. The business has a fifty day moving average of $131.30 and a 200 day moving average of $122.20. East West Bancorp, Inc. has a 52-week low of $92.67 and a 52-week high of $137.47. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.33.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.63 EPS for the quarter, topping the consensus estimate of $2.61 by $0.02. East West Bancorp had a net margin of 30.45% and a return on equity of 16.07%. The company had revenue of $789.98 million during the quarter, compared to analyst estimates of $784.47 million. During the same period in the previous year, the firm earned $2.24 earnings per share. East West Bancorp’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, sell-side analysts expect that East West Bancorp, Inc. will post 10.61 EPS for the current year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 3rd were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. East West Bancorp’s payout ratio is currently 30.77%.

Wall Street Analyst Weigh In

Several research firms have commented on EWBC. Citigroup reiterated a “buy” rating on shares of East West Bancorp in a research report on Thursday, July 23rd. Truist Financial boosted their target price on shares of East West Bancorp from $128.00 to $136.00 and gave the stock a “hold” rating in a report on Friday, July 10th. DA Davidson upped their target price on shares of East West Bancorp from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $152.00 price target on shares of East West Bancorp in a report on Wednesday, August 19th. Finally, Barclays lifted their price target on East West Bancorp from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, East West Bancorp has an average rating of “Moderate Buy” and a consensus price target of $141.92.

About East West Bancorp

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.