9,292 Shares in East West Bancorp, Inc. $EWBC Acquired by Mach 1 Financial Group LLC

Key Points

• Mach 1 Financial Group LLC opened a new position in East West Bancorp, buying 9,292 shares valued at about $1.044 million in the fourth quarter.
• Institutional ownership remains dominant, with hedge funds and other institutional investors holding about 89.53% of the company’s stock. Several large funds increased their stakes, while insider selling was also reported.
• East West Bancorp posted strong quarterly results, with EPS of $2.57 beating estimates and revenue of $773.75 million topping expectations; the company also paid a $0.80 quarterly dividend and its stock was trading near its 52-week high.

Mach 1 Financial Group LLC purchased a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,292 shares of the financial services provider's stock, valued at approximately $1,044,000.

Several other large investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in East West Bancorp by 84,090.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider's stock valued at $596,967,000 after purchasing an additional 5,305,257 shares in the last quarter. First Trust Advisors LP lifted its holdings in East West Bancorp by 0.5% during the third quarter. First Trust Advisors LP now owns 4,313,856 shares of the financial services provider's stock valued at $459,210,000 after purchasing an additional 19,539 shares in the last quarter. Boston Partners lifted its holdings in East West Bancorp by 19.6% during the third quarter. Boston Partners now owns 3,874,737 shares of the financial services provider's stock valued at $412,464,000 after purchasing an additional 633,649 shares in the last quarter. Schroder Investment Management Group lifted its holdings in East West Bancorp by 10.9% during the third quarter. Schroder Investment Management Group now owns 3,395,376 shares of the financial services provider's stock valued at $361,879,000 after purchasing an additional 334,429 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in East West Bancorp by 23.6% during the second quarter. Bank of America Corp DE now owns 2,051,360 shares of the financial services provider's stock valued at $207,146,000 after purchasing an additional 391,059 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company's stock.

Insider Activity at East West Bancorp

In other news, Director Archana Deskus sold 1,800 shares of East West Bancorp stock in a transaction that occurred 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 sale, the director 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Dominic Ng sold 30,000 shares of East West Bancorp stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $123.49, for a total transaction of $3,704,700.00. Following the sale, the chief executive officer owned 707,930 shares in the company, valued at approximately $87,422,275.70. The trade was a 4.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.94% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EWBC. DA Davidson lifted their price target on shares of East West Bancorp from $135.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Stephens lifted their price target on shares of East West Bancorp from $120.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday, January 26th. UBS Group lifted their price target on shares of East West Bancorp from $125.00 to $138.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. TD Cowen lifted their price target on shares of East West Bancorp from $137.00 to $143.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Finally, Morgan Stanley lowered their price target on shares of East West Bancorp from $141.00 to $128.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 31st. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $133.69.

East West Bancorp Trading Up 1.9%

East West Bancorp stock opened at $123.29 on Thursday. The stock has a market cap of $16.89 billion, a P/E ratio of 12.32, a PEG ratio of 1.48 and a beta of 0.97. 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, Inc. has a 1 year low of $88.26 and a 1 year high of $127.51. The firm's 50 day moving average price is $114.70 and its 200-day moving average price is $112.99.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.11. The firm had revenue of $773.75 million for the quarter, compared to analysts' expectations of $767.80 million. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. The company's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 earnings per share. On average, 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 disclosed a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 4th were given a dividend of $0.80 per share. The ex-dividend date was Monday, May 4th. This represents a $3.20 annualized dividend and a dividend yield of 2.6%. East West Bancorp's dividend payout ratio (DPR) is presently 31.97%.

About East West Bancorp

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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