17,135 Shares in East West Bancorp, Inc. $EWBC Acquired by Expect Equity LLC

Key Points

• Expect Equity LLC opened a new position in East West Bancorp, buying 17,135 shares valued at about $1.93 million in the fourth quarter. The stake represents roughly 1.9% of its portfolio.
• East West Bancorp reported strong quarterly results, with EPS of $2.57 topping estimates and revenue rising 11.8% year over year to $773.75 million. The company also continues to post solid profitability, including a 16.00% return on equity.
• The bank paid a quarterly dividend of $0.80 per share, implying an annualized yield of 2.5%. Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $133.69.

Expect Equity LLC bought a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 17,135 shares of the financial services provider's stock, valued at approximately $1,926,000. East West Bancorp accounts for about 1.9% of Expect Equity LLC's holdings, making the stock its 26th largest position.

Several other large investors have also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its stake in East West Bancorp by 84,090.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider's stock worth $596,967,000 after buying an additional 5,305,257 shares during the period. Charles Schwab Investment Management Inc. increased its stake in East West Bancorp by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,981,065 shares of the financial services provider's stock worth $559,822,000 after buying an additional 106,998 shares during the period. First Trust Advisors LP increased its stake in East West Bancorp by 7.1% during the 4th quarter. First Trust Advisors LP now owns 4,620,772 shares of the financial services provider's stock worth $519,329,000 after buying an additional 306,916 shares during the period. Boston Partners increased its stake in East West Bancorp by 19.6% during the 3rd quarter. Boston Partners now owns 3,874,737 shares of the financial services provider's stock worth $412,464,000 after buying an additional 633,649 shares during the period. Finally, Schroder Investment Management Group increased its stake in East West Bancorp by 9.4% during the 4th quarter. Schroder Investment Management Group now owns 3,713,679 shares of the financial services provider's stock worth $423,619,000 after buying an additional 318,303 shares during the period. 89.53% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Trading Down 2.6%

Shares of NASDAQ:EWBC opened at $127.26 on Thursday. East West Bancorp, Inc. has a 52 week low of $91.36 and a 52 week high of $136.00. The company's 50 day moving average is $122.55 and its two-hundred day moving average is $116.16. 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 P/E/G ratio of 1.60 and a beta of 0.94.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.57 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $767.80 million. During the same period in the prior year, the firm posted $2.08 EPS. The company's quarterly revenue was up 11.8% compared to the same quarter last year. Equities analysts predict that East West Bancorp, Inc. will post 10.6 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 18th. Investors of record on Monday, May 4th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, May 4th. East West Bancorp's dividend payout ratio (DPR) is 31.97%.

Analysts Set New Price Targets

Several brokerages recently weighed in on EWBC. Piper Sandler upped their target price on shares of East West Bancorp from $111.00 to $123.00 and gave the stock a "neutral" rating in a research note on Monday, April 27th. TD Cowen increased their price objective on shares of East West Bancorp from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. DA Davidson increased their price objective on shares of East West Bancorp from $135.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. Morgan Stanley dropped their price objective on shares of East West Bancorp from $141.00 to $128.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 31st. Finally, Barclays dropped their price objective 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. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, East West Bancorp presently has a consensus rating of "Moderate Buy" and an average target price of $133.69.

Insider Activity at East West Bancorp

In related news, insider Irene H. Oh sold 11,211 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $129.00, for a total value of $1,446,219.00. Following the transaction, the insider directly owned 85,998 shares of the company's stock, valued at $11,093,742. This trade represents a 11.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Archana Deskus sold 1,800 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $125.55, for a total transaction of $225,990.00. Following the completion of the transaction, the director directly owned 13,231 shares in the company, valued at $1,661,152.05. This trade represents a 11.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 54,311 shares of company stock valued at $6,784,711. Corporate insiders own 0.94% of the company's stock.

East West Bancorp 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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