Man Group plc Acquires New Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Man Group plc acquired a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 14,153 shares of the financial services provider's stock, valued at approximately $1,355,000.

Several other institutional investors have also modified their holdings of the company. Nomura Holdings Inc. purchased a new stake in shares of East West Bancorp during the 4th quarter worth $1,762,000. NorthRock Partners LLC purchased a new stake in East West Bancorp in the fourth quarter valued at $244,000. Interval Partners LP purchased a new stake in East West Bancorp in the fourth quarter valued at $2,754,000. Graham Capital Management L.P. lifted its position in East West Bancorp by 136.1% in the fourth quarter. Graham Capital Management L.P. now owns 56,121 shares of the financial services provider's stock valued at $5,374,000 after acquiring an additional 32,346 shares during the last quarter. Finally, Focus Partners Wealth purchased a new stake in East West Bancorp in the fourth quarter valued at $5,910,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Price Performance

EWBC stock traded down $0.10 during trading on Thursday, reaching $91.84. 82,752 shares of the company were exchanged, compared to its average volume of 921,554. The company has a market cap of $12.66 billion, a P/E ratio of 11.01, a PEG ratio of 1.29 and a beta of 0.90. East West Bancorp, Inc. has a 52-week low of $68.27 and a 52-week high of $113.95. The stock's 50 day moving average price is $85.47 and its 200 day moving average price is $94.19. 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 (NASDAQ:EWBC - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $2.09 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. East West Bancorp had a net margin of 25.73% and a return on equity of 15.71%. The firm had revenue of $693.00 million for the quarter, compared to the consensus estimate of $673.02 million. As a group, analysts predict 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 declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Friday, May 2nd. East West Bancorp's dividend payout ratio (DPR) is presently 28.64%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on EWBC shares. Wells Fargo & Company reduced their price target on shares of East West Bancorp from $120.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. DA Davidson dropped their price objective on shares of East West Bancorp from $118.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Jefferies Financial Group initiated coverage on shares of East West Bancorp in a research note on Wednesday, May 21st. They issued a "buy" rating and a $115.00 price objective on the stock. Barclays lifted their price objective on shares of East West Bancorp from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Finally, Truist Financial initiated coverage on shares of East West Bancorp in a research note on Tuesday, May 13th. They issued a "hold" rating and a $102.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $107.85.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, CEO Dominic Ng sold 20,181 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $90.01, for a total value of $1,816,491.81. Following the sale, the chief executive officer now owns 988,133 shares of the company's stock, valued at $88,941,851.33. This represents a 2.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa L. Kim sold 2,100 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $95.04, for a total transaction of $199,584.00. Following the completion of the sale, the executive vice president now directly owns 14,849 shares in the company, valued at $1,411,248.96. This trade represents a 12.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,281 shares of company stock valued at $9,473,478 over the last quarter. Corporate insiders own 1.04% of the company's stock.

East West Bancorp 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.