Sanctuary Advisors LLC Invests $3.58 Million in East West Bancorp, Inc. $EWBC

Sanctuary Advisors LLC bought a new stake in East West Bancorp, Inc. (NASDAQ:EWBC) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 27,706 shares of the financial services provider’s stock, valued at approximately $3,577,000.

Other institutional investors have also made changes to their positions in the company. Solstein Capital LLC bought a new position in shares of East West Bancorp in the second quarter valued at about $27,000. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in East West Bancorp in the 2nd quarter valued at about $410,000. Globeflex Capital L P bought a new position in shares of East West Bancorp in the second quarter worth about $207,000. Elevation Point Wealth Partners LLC bought a new position in East West Bancorp in the 2nd quarter worth approximately $245,000. Finally, Commerce Bank bought a new position in East West Bancorp in the 2nd quarter valued at $2,054,000. 89.53% of the stock is owned by institutional investors.

East West Bancorp Trading Up 0.4%

NASDAQ EWBC opened at $129.43 on Wednesday. East West Bancorp, Inc. has a 12 month low of $92.67 and a 12 month high of $137.47. The stock has a 50-day simple moving average of $131.30 and a 200 day simple moving average of $122.20. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $17.73 billion, a PE ratio of 12.45, a P/E/G ratio of 1.49 and a beta of 0.94.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.02. The firm had revenue of $789.98 million for the quarter, compared to analysts’ expectations of $784.47 million. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The company’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.24 earnings per share. Research analysts forecast 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 given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, August 3rd. East West Bancorp’s dividend payout ratio (DPR) is currently 30.77%.

Insider Activity at East West Bancorp

In related news, insider Irene H. Oh sold 800 shares of East West Bancorp stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $133.19, for a total transaction of $106,552.00. Following the transaction, the insider owned 84,698 shares of the company’s stock, valued at $11,280,926.62. This trade represents a 0.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $132.37, for a total transaction of $1,323,700.00. Following the transaction, the insider owned 36,974 shares of the company’s stock, valued at approximately $4,894,248.38. This represents a 21.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 23,511 shares of company stock worth $3,077,741 in the last ninety days. Company insiders own 0.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on EWBC shares. Barclays lifted their target price on East West Bancorp from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Wall Street Zen upgraded East West Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Morgan Stanley lifted their price objective on East West Bancorp from $128.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. DA Davidson boosted their price objective on East West Bancorp from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $152.00 target price on shares of East West Bancorp in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently 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.