Twelve Points Wealth Management LLC Has $520,000 Stake in East West Bancorp, Inc. (NASDAQ:EWBC)

Twelve Points Wealth Management LLC boosted its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 12.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,281 shares of the financial services provider’s stock after purchasing an additional 672 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in East West Bancorp were worth $520,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Riverview Trust Co bought a new stake in shares of East West Bancorp in the 1st quarter worth about $25,000. Kapitalo Investimentos Ltda acquired a new position in East West Bancorp in the fourth quarter valued at about $29,000. Rise Advisors LLC acquired a new position in East West Bancorp in the first quarter valued at about $30,000. Cullen Frost Bankers Inc. bought a new stake in East West Bancorp during the second quarter worth about $30,000. Finally, UMB Bank n.a. increased its holdings in shares of East West Bancorp by 362.8% during the third quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after buying an additional 283 shares in the last quarter. 89.53% of the stock is owned by institutional investors.

East West Bancorp Price Performance

Shares of EWBC stock opened at $91.66 on Thursday. The firm’s 50 day moving average price is $81.92 and its two-hundred day moving average price is $77.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. East West Bancorp, Inc. has a 52-week low of $51.14 and a 52-week high of $92.68. The stock has a market cap of $12.75 billion, a PE ratio of 11.54, a PEG ratio of 2.08 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.10. The business had revenue of $638.00 million for the quarter, compared to analyst estimates of $631.61 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The firm’s revenue was down .9% on a year-over-year basis. During the same period last year, the company earned $2.20 EPS. As a group, analysts forecast that East West Bancorp, Inc. will post 8.2 EPS for the current year.

East West Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were given a dividend of $0.55 per share. The ex-dividend date was Friday, August 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.40%. East West Bancorp’s payout ratio is currently 27.71%.

Analyst Ratings Changes

EWBC has been the topic of a number of research analyst reports. DA Davidson increased their price target on East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Company increased their target price on East West Bancorp from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Wedbush raised their target price on East West Bancorp from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Truist Financial reduced their price target on shares of East West Bancorp from $96.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, Piper Sandler raised their price objective on shares of East West Bancorp from $72.50 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, East West Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $92.77.

Insider Activity

In related news, EVP Gary Teo sold 3,450 shares of East West Bancorp stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.73, for a total transaction of $302,668.50. Following the transaction, the executive vice president now owns 15,875 shares of the company’s stock, valued at $1,392,713.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Gary Teo sold 3,450 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.73, for a total transaction of $302,668.50. Following the sale, the executive vice president now owns 15,875 shares of the company’s stock, valued at approximately $1,392,713.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $83.50, for a total value of $167,000.00. Following the transaction, the director now owns 16,557 shares in the company, valued at approximately $1,382,509.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,346 shares of company stock valued at $1,108,160 in the last ninety days. 1.04% of the stock is owned by insiders.

About East West Bancorp

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.