18,937 Shares in East West Bancorp, Inc. $EWBC Purchased by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd disclosed a new first-quarter stake in East West Bancorp, buying 18,937 shares valued at about $2.0 million.
• East West Bancorp reported strong quarterly results, with EPS of $2.57 beating estimates and revenue rising 11.8% year over year to $773.75 million.
• The bank remains active on shareholder returns and insider activity: it paid a $0.80 quarterly dividend and saw several insider sales, while analysts currently rate the stock Moderate Buy with a consensus target price of $136.38.

Y Intercept Hong Kong Ltd acquired a new stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 18,937 shares of the financial services provider's stock, valued at approximately $2,022,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atlantic Union Bankshares Corp bought a new position in East West Bancorp in the 4th quarter worth about $31,000. Kelleher Financial Advisors bought a new stake in shares of East West Bancorp during the third quarter valued at approximately $31,000. Signaturefd LLC boosted its position in shares of East West Bancorp by 115.0% during the fourth quarter. Signaturefd LLC now owns 344 shares of the financial services provider's stock worth $39,000 after buying an additional 184 shares during the period. Wilmington Savings Fund Society FSB boosted its position in shares of East West Bancorp by 44.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider's stock worth $39,000 after buying an additional 113 shares during the period. Finally, Quarry LP grew its holdings in East West Bancorp by 35.4% in 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 in the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $127.61 on Thursday. East West Bancorp, Inc. has a 12 month low of $92.67 and a 12 month high of $136.00. The stock has a market cap of $17.48 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.58 and a beta of 0.94. The stock's 50 day moving average price is $125.83 and its 200 day moving average price is $118.06. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.46 by $0.11. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The firm had revenue of $773.75 million during the quarter, compared to analyst estimates of $767.80 million. During the same period last year, the company posted $2.08 EPS. The firm's quarterly revenue was up 11.8% on a year-over-year basis. Equities research analysts anticipate that East West Bancorp, Inc. will post 10.59 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 4th were issued a $0.80 dividend. The ex-dividend date was Monday, May 4th. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. East West Bancorp's dividend payout ratio is 31.97%.

Insider Transactions at East West Bancorp

In related 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 transaction of $3,704,700.00. Following the transaction, the chief executive officer directly owned 707,930 shares of the company's stock, 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 Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $123.50, for a total transaction of $1,235,000.00. Following the completion of the sale, the insider owned 46,974 shares in the company, valued at approximately $5,801,289. This trade represents a 17.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 54,311 shares of company stock worth $6,784,711. Corporate insiders own 0.94% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Piper Sandler raised their target price on East West Bancorp from $111.00 to $123.00 and gave the company a "neutral" rating in a research report on Monday, April 27th. TD Cowen boosted their price target on East West Bancorp from $137.00 to $143.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. UBS Group increased their price target on East West Bancorp from $125.00 to $138.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Cantor Fitzgerald reissued an "overweight" rating and set a $133.00 price target on shares of East West Bancorp in a report on Wednesday, April 22nd. Finally, Wall Street Zen cut shares of East West Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, July 4th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $136.38.

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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