Aurora Investment Counsel Makes New Investment in East West Bancorp, Inc. $EWBC

Aurora Investment Counsel purchased a new position in East West Bancorp, Inc. (NASDAQ:EWBC) during the 2nd quarter, Holdings Channel reports. The firm purchased 20,098 shares of the financial services provider’s stock, valued at approximately $2,029,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Xponance Inc. grew its position in East West Bancorp by 1.9% in the 1st quarter. Xponance Inc. now owns 16,141 shares of the financial services provider’s stock worth $1,449,000 after purchasing an additional 302 shares during the last quarter. Janney Montgomery Scott LLC grew its position in East West Bancorp by 25.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 28,287 shares of the financial services provider’s stock worth $2,539,000 after purchasing an additional 5,654 shares during the last quarter. Cerity Partners LLC grew its position in East West Bancorp by 35.9% in the 1st quarter. Cerity Partners LLC now owns 16,157 shares of the financial services provider’s stock worth $1,450,000 after purchasing an additional 4,271 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in East West Bancorp by 7.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 48,093 shares of the financial services provider’s stock worth $4,317,000 after purchasing an additional 3,460 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of East West Bancorp by 16.5% during the 1st quarter. Deutsche Bank AG now owns 21,516 shares of the financial services provider’s stock valued at $1,931,000 after acquiring an additional 3,052 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other East West Bancorp news, CEO Dominic Ng sold 40,000 shares of the business’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $103.38, for a total value of $4,135,200.00. Following the completion of the transaction, the chief executive officer directly owned 888,314 shares of the company’s stock, valued at approximately $91,833,901.32. The trade was a 4.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 1,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $105.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director directly owned 14,974 shares of the company’s stock, valued at approximately $1,572,270. This represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,240 shares of company stock valued at $7,379,678 in the last ninety days. 1.04% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

EWBC has been the topic of several recent research reports. Cantor Fitzgerald initiated coverage on shares of East West Bancorp in a research report on Wednesday, September 10th. They set an “overweight” rating and a $124.00 target price on the stock. DA Davidson lifted their target price on shares of East West Bancorp from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of East West Bancorp in a research report on Wednesday, October 8th. Truist Financial set a $112.00 target price on shares of East West Bancorp in a research report on Friday, October 10th. Finally, Barclays lifted their target price on shares of East West Bancorp from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.33.

East West Bancorp Price Performance

NASDAQ:EWBC opened at $98.32 on Tuesday. The firm has a market cap of $13.55 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 1.31 and a beta of 0.93. East West Bancorp, Inc. has a 12 month low of $68.27 and a 12 month high of $113.95. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $105.03 and its two-hundred day moving average price is $97.61.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Monday, December 11th. The financial services provider reported $2.08 EPS for the quarter. The firm had revenue of $627.36 million for the quarter. East West Bancorp had a net margin of 26.06% and a return on equity of 15.09%. On average, equities analysts anticipate that East West Bancorp, Inc. will post 8.85 EPS for the current fiscal year.

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.