Visionary Horizons LLC Invests $749,000 in East West Bancorp, Inc. $EWBC

Visionary Horizons LLC purchased a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,033 shares of the financial services provider’s stock, valued at approximately $749,000.

Several other hedge funds have also recently added to or reduced their stakes in EWBC. Brighton Jones LLC boosted its stake in East West Bancorp by 4.5% during the 3rd quarter. Brighton Jones LLC now owns 2,762 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 120 shares during the last quarter. Beverly Hills Private Wealth LLC lifted its stake in shares of East West Bancorp by 4.9% in the second quarter. Beverly Hills Private Wealth LLC now owns 2,630 shares of the financial services provider’s stock worth $266,000 after buying an additional 122 shares in the last quarter. MAI Capital Management boosted its position in East West Bancorp by 15.7% during the second quarter. MAI Capital Management now owns 906 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 123 shares during the last quarter. HB Wealth Management LLC grew its stake in East West Bancorp by 7.0% during the 3rd quarter. HB Wealth Management LLC now owns 2,148 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 141 shares in the last quarter. Finally, Prospera Financial Services Inc raised its holdings in East West Bancorp by 2.6% in the 2nd quarter. Prospera Financial Services Inc now owns 5,903 shares of the financial services provider’s stock valued at $596,000 after acquiring an additional 147 shares during the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Cantor Fitzgerald assumed coverage on East West Bancorp in a report on Wednesday, September 10th. They set an “overweight” rating and a $124.00 target price on the stock. Barclays lifted their price objective on East West Bancorp from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. TD Cowen upped their target price on East West Bancorp from $135.00 to $141.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial raised their target price on East West Bancorp from $112.00 to $116.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Finally, Cowen reiterated a “buy” rating on shares of East West Bancorp in a report on Wednesday. Eleven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.08.

East West Bancorp Price Performance

NASDAQ:EWBC opened at $116.48 on Thursday. East West Bancorp, Inc. has a 52 week low of $68.27 and a 52 week high of $118.55. The stock’s fifty day moving average is $108.93 and its two-hundred day moving average is $105.88. The company has a market capitalization of $16.03 billion, a P/E ratio of 12.84, a P/E/G ratio of 1.21 and a beta of 0.88. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.35.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Monday, December 11th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter. The firm had revenue of $627.36 million during the quarter. East West Bancorp had a return on equity of 15.55% and a net margin of 27.16%. Equities analysts expect that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 3rd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, November 3rd. East West Bancorp’s payout ratio is 26.46%.

Insider Transactions at East West Bancorp

In other East West Bancorp news, insider Irene H. Oh sold 12,547 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $115.00, for a total transaction of $1,442,905.00. Following the transaction, the insider directly owned 93,167 shares in the company, valued at $10,714,205. This represents a 11.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of East West Bancorp stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $100.04, for a total value of $1,000,400.00. Following the completion of the sale, the insider directly owned 45,500 shares of the company’s stock, valued at $4,551,820. The trade was a 18.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 73,344 shares of company stock worth $8,184,226. 1.04% of the stock is owned by company insiders.

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.