Brevan Howard Capital Management LP Sells 7,419 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Brevan Howard Capital Management LP reduced its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 69.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,282 shares of the financial services provider's stock after selling 7,419 shares during the quarter. Brevan Howard Capital Management LP's holdings in East West Bancorp were worth $314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in EWBC. Louisiana State Employees Retirement System raised its holdings in shares of East West Bancorp by 0.3% during the 4th quarter. Louisiana State Employees Retirement System now owns 38,500 shares of the financial services provider's stock worth $3,687,000 after buying an additional 100 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of East West Bancorp by 4.5% during the 4th quarter. Jones Financial Companies Lllp now owns 2,336 shares of the financial services provider's stock worth $224,000 after buying an additional 100 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of East West Bancorp by 1.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,777 shares of the financial services provider's stock worth $1,128,000 after buying an additional 128 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of East West Bancorp by 0.3% during the 4th quarter. Arizona State Retirement System now owns 40,196 shares of the financial services provider's stock worth $3,849,000 after buying an additional 130 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of East West Bancorp by 3.8% during the 4th quarter. Blue Trust Inc. now owns 3,583 shares of the financial services provider's stock worth $343,000 after buying an additional 132 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other East West Bancorp news, CEO Dominic Ng sold 40,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.43, for a total value of $3,857,200.00. Following the transaction, the chief executive officer now owns 928,314 shares in the company, valued at approximately $89,517,319.02. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 100,181 shares of company stock valued at $9,273,894 over the last 90 days. Company insiders own 1.04% of the company's stock.

East West Bancorp Trading Down 0.3%

Shares of EWBC stock traded down $0.31 on Wednesday, hitting $95.69. The company had a trading volume of 578,659 shares, compared to its average volume of 919,292. The firm has a market cap of $13.25 billion, a P/E ratio of 11.49, a P/E/G ratio of 1.29 and a beta of 0.90. The stock's 50-day moving average is $84.29 and its two-hundred day moving average is $94.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.91. East West Bancorp, Inc. has a twelve month low of $68.27 and a twelve month high of $113.95.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. East West Bancorp had a return on equity of 15.71% and a net margin of 25.73%. The business had revenue of $693.00 million during the quarter, compared to analysts' expectations of $673.02 million. On average, equities research analysts anticipate that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 2nd will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, May 2nd. This represents a $2.40 annualized dividend and a yield of 2.51%. East West Bancorp's dividend payout ratio is currently 28.64%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EWBC. DA Davidson lowered their target price on East West Bancorp from $118.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Piper Sandler lowered their target price on East West Bancorp from $100.00 to $97.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Truist Financial began coverage on East West Bancorp in a report on Tuesday. They issued a "hold" rating and a $102.00 target price for the company. Barclays upped their target price on East West Bancorp from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Finally, StockNews.com cut East West Bancorp from a "hold" rating to a "sell" rating in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.54.

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.