Interval Partners LP increased its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) by 143.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 138,611 shares of the financial services provider’s stock after buying an additional 81,605 shares during the period. Interval Partners LP owned 0.10% of East West Bancorp worth $15,578,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Quarry LP boosted its holdings in shares of East West Bancorp by 35.4% during the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider’s stock worth $42,000 after buying an additional 102 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of East West Bancorp by 1.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 5,674 shares of the financial services provider’s stock worth $604,000 after buying an additional 102 shares during the period. Bradley Foster & Sargent Inc. CT boosted its holdings in East West Bancorp by 1.1% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 9,195 shares of the financial services provider’s stock valued at $1,033,000 after purchasing an additional 102 shares during the period. Swiss Life Asset Management Ltd grew its position in shares of East West Bancorp by 1.7% during the 4th quarter. Swiss Life Asset Management Ltd now owns 6,404 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 104 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of East West Bancorp by 4.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,602 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.
Wall Street Analysts Forecast Growth
EWBC has been the topic of a number of analyst reports. UBS Group increased their target price on shares of East West Bancorp from $125.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Barclays decreased their target price on shares of East West Bancorp from $150.00 to $142.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Citigroup increased their target price on shares of East West Bancorp from $139.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $133.00 target price on shares of East West Bancorp in a research report on Wednesday, April 22nd. Finally, Truist Financial increased their target price on shares of East West Bancorp from $120.00 to $128.00 and gave the stock a “hold” rating in a research report on Thursday, April 23rd. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.69.
East West Bancorp Stock Performance
Shares of East West Bancorp stock opened at $127.26 on Thursday. The company has a 50 day moving average of $122.55 and a 200-day moving average of $116.16. East West Bancorp, Inc. has a 1-year low of $91.36 and a 1-year high of $136.00. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The company has a market cap of $17.43 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.60 and a beta of 0.94.
East West Bancorp (NASDAQ:EWBC – Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.11. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. The company had revenue of $773.75 million during the quarter, compared to the consensus estimate of $767.80 million. During the same quarter in the prior year, the firm posted $2.08 EPS. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts forecast that East West Bancorp, Inc. will post 10.6 earnings per share for the current fiscal year.
East West Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 4th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Monday, May 4th. East West Bancorp’s payout ratio is currently 31.97%.
Insiders Place Their Bets
In other East West Bancorp news, CEO Dominic Ng sold 30,000 shares of East West Bancorp stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $123.49, for a total value of $3,704,700.00. Following the transaction, the chief executive officer owned 707,930 shares in the company, valued at $87,422,275.70. The trade was a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Archana Deskus sold 1,800 shares of East West Bancorp stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $125.55, for a total value of $225,990.00. Following the completion of the transaction, the director owned 13,231 shares in the company, valued at approximately $1,661,152.05. This represents a 11.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 54,311 shares of company stock worth $6,784,711. Insiders own 0.94% of the company’s stock.
East West Bancorp Company Profile
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.
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