Yousif Capital Management LLC Cuts Position in East West Bancorp, Inc. $EWBC

Yousif Capital Management LLC decreased its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 2.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 47,785 shares of the financial services provider’s stock after selling 1,128 shares during the period. Yousif Capital Management LLC’s holdings in East West Bancorp were worth $4,825,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Picton Mahoney Asset Management raised its holdings in East West Bancorp by 1,971.4% in the first quarter. Picton Mahoney Asset Management now owns 290 shares of the financial services provider’s stock valued at $26,000 after buying an additional 276 shares during the period. Park Place Capital Corp purchased a new position in East West Bancorp in the second quarter valued at approximately $27,000. WPG Advisers LLC purchased a new position in East West Bancorp in the first quarter valued at approximately $28,000. SVB Wealth LLC purchased a new position in East West Bancorp in the first quarter valued at approximately $29,000. Finally, Chung Wu Investment Group LLC purchased a new position in East West Bancorp in the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Stock Up 2.3%

EWBC stock opened at $103.50 on Wednesday. East West Bancorp, Inc. has a twelve month low of $68.27 and a twelve month high of $113.95. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $14.26 billion, a P/E ratio of 12.09, a PEG ratio of 1.38 and a beta of 0.93. The firm has a 50 day simple moving average of $105.11 and a 200-day simple moving average of $97.15.

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

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Monday, August 4th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.3%. East West Bancorp’s dividend payout ratio (DPR) is 28.04%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on EWBC shares. Citigroup raised their price target on shares of East West Bancorp from $124.00 to $134.00 and gave the company a “buy” rating in a report on Monday, September 8th. Morgan Stanley increased their price objective on shares of East West Bancorp from $111.00 to $126.00 and gave the company an “underperform” rating in a research report on Monday, September 29th. Cantor Fitzgerald initiated coverage on shares of East West Bancorp in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $124.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of East West Bancorp in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of East West Bancorp from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.33.

Insider Transactions at East West Bancorp

In related news, Director Jack C. Liu sold 1,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $105.00, for a total transaction of $105,000.00. Following the transaction, the director directly owned 14,974 shares in the company, valued at $1,572,270. This trade represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gary Teo sold 6,550 shares of the firm’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $106.47, for a total value of $697,378.50. Following the completion of the sale, the executive vice president owned 12,235 shares in the company, valued at $1,302,660.45. The trade was a 34.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,240 shares of company stock valued at $7,379,678. Company insiders own 1.04% of the company’s stock.

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.