Noesis Capital Mangement Corp Invests $1.11 Million in East West Bancorp, Inc. (NASDAQ:EWBC)

Noesis Capital Mangement Corp bought a new stake in East West Bancorp, Inc. (NASDAQ:EWBC) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 13,350 shares of the financial services provider’s stock, valued at approximately $1,105,000.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in East West Bancorp in the 3rd quarter worth approximately $25,000. Cullen Frost Bankers Inc. bought a new position in shares of East West Bancorp in the second quarter worth approximately $30,000. UMB Bank n.a. grew its holdings in shares of East West Bancorp by 362.8% in the third quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 283 shares during the last quarter. American Capital Advisory LLC purchased a new position in shares of East West Bancorp in the second quarter worth $31,000. Finally, Signaturefd LLC raised its holdings in East West Bancorp by 490.1% during the 2nd quarter. Signaturefd LLC now owns 537 shares of the financial services provider’s stock valued at $39,000 after buying an additional 446 shares during the last quarter. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $110.05 on Thursday. The business has a fifty day moving average price of $94.18 and a 200-day moving average price of $83.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $15.26 billion, a PE ratio of 13.90, a PEG ratio of 3.23 and a beta of 1.27. East West Bancorp, Inc. has a 1-year low of $60.34 and a 1-year high of $113.95.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $641.80 million. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. During the same period last year, the business earned $2.02 EPS. As a group, equities analysts expect that East West Bancorp, Inc. will post 8.37 EPS for the current fiscal year.

East West Bancorp Announces Dividend

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

Insider Activity at East West Bancorp

In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the transaction, the insider now owns 45,403 shares in the company, valued at approximately $4,840,413.83. This represents a 20.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Irene H. Oh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $98.50, for a total transaction of $985,000.00. Following the sale, the insider now directly owns 117,193 shares in the company, valued at approximately $11,543,510.50. The trade was a 7.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,969 shares of company stock valued at $2,458,276. 1.04% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EWBC. Piper Sandler raised their price target on shares of East West Bancorp from $87.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Barclays raised their target price on East West Bancorp from $108.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com raised East West Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Truist Financial lifted their price objective on East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Stephens boosted their target price on East West Bancorp from $91.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.25.

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.