Mutual of America Capital Management LLC Decreases Stake in East West Bancorp, Inc. $EWBC

Mutual of America Capital Management LLC cut its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 4.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,701 shares of the financial services provider’s stock after selling 5,542 shares during the period. Mutual of America Capital Management LLC owned approximately 0.08% of East West Bancorp worth $11,683,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EWBC. Picton Mahoney Asset Management lifted its stake in East West Bancorp by 1,971.4% during the 1st quarter. Picton Mahoney Asset Management now owns 290 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 276 shares during the period. Park Place Capital Corp purchased a new position in shares of East West Bancorp during the second quarter valued at approximately $27,000. WPG Advisers LLC bought a new position in East West Bancorp during the first quarter valued at approximately $28,000. SVB Wealth LLC bought a new position in East West Bancorp during the first quarter valued at approximately $29,000. Finally, Chung Wu Investment Group LLC purchased a new stake in East West Bancorp in the second quarter worth approximately $30,000. 89.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Gary Teo sold 6,550 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was 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 directly owned 12,235 shares in the company, valued at $1,302,660.45. This represents a 34.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Irene H. Oh sold 7,639 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $109.40, for a total value of $835,706.60. Following the completion of the sale, the insider owned 105,714 shares of the company’s stock, valued at $11,565,111.60. This trade represents a 6.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,240 shares of company stock valued at $7,379,678. Company insiders own 1.04% of the company’s stock.

East West Bancorp Trading Up 1.8%

NASDAQ:EWBC opened at $95.98 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $13.23 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 1.31 and a beta of 0.93. East West Bancorp, Inc. has a one year low of $68.27 and a one year high of $113.95. The business has a fifty day moving average price of $105.04 and a 200-day moving average price of $97.44.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Monday, December 11th. The financial services provider reported $2.08 EPS for the quarter. The firm had revenue of $627.36 million during the quarter. East West Bancorp had a return on equity of 15.09% and a net margin of 26.06%. Sell-side analysts forecast that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, August 4th. East West Bancorp’s dividend payout ratio is 28.04%.

Wall Street Analysts Forecast Growth

EWBC has been the subject of a number of research reports. Wall Street Zen upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Keefe, Bruyette & Woods lifted their price objective on East West Bancorp from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, July 23rd. Cantor Fitzgerald assumed coverage on East West Bancorp in a research report on Wednesday, September 10th. They set an “overweight” rating and a $124.00 price objective for the company. TD Cowen initiated coverage on East West Bancorp in a research report on Thursday, September 25th. They issued a “buy” rating and a $139.00 target price on the stock. Finally, Wells Fargo & Company boosted their price target on East West Bancorp from $100.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, East West Bancorp presently has an average rating of “Moderate Buy” and an average target price of $121.33.

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.