Teza Capital Management LLC Has $353,000 Stock Holdings in East West Bancorp, Inc. $EWBC

Key Points

• Teza Capital Management LLC significantly reduced its stake in East West Bancorp, Inc. by 73.2% during the first quarter, now holding 3,936 shares valued at $353,000.
• East West Bancorp reported $2.28 EPS for the recent quarter, surpassing analyst estimates and reflecting a 10.3% revenue increase compared to the same period last year.
• Insider trading activity includes Irene H. Oh selling 15,051 shares worth over $1.6 million, and a total of 70,240 shares sold by insiders in the last ninety days.

Teza Capital Management LLC trimmed its stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 73.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,936 shares of the financial services provider's stock after selling 10,741 shares during the quarter. Teza Capital Management LLC's holdings in East West Bancorp were worth $353,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of EWBC. Invesco Ltd. grew its stake in East West Bancorp by 155.6% in the first quarter. Invesco Ltd. now owns 7,714,661 shares of the financial services provider's stock valued at $692,468,000 after purchasing an additional 4,696,157 shares in the last quarter. Earnest Partners LLC bought a new position in East West Bancorp in the first quarter valued at approximately $137,390,000. Nuveen LLC bought a new position in East West Bancorp in the first quarter valued at approximately $83,330,000. Westfield Capital Management Co. LP grew its stake in East West Bancorp by 203.0% in the first quarter. Westfield Capital Management Co. LP now owns 817,306 shares of the financial services provider's stock valued at $73,361,000 after purchasing an additional 547,556 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in East West Bancorp by 6,571.1% in the first quarter. Wellington Management Group LLP now owns 460,241 shares of the financial services provider's stock valued at $41,311,000 after purchasing an additional 453,342 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EWBC has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on East West Bancorp from $100.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Piper Sandler lifted their target price on East West Bancorp from $100.00 to $104.00 and gave the stock a "neutral" rating in a research note on Monday, September 8th. Truist Financial lifted their target price on East West Bancorp from $102.00 to $110.00 and gave the stock a "hold" rating in a research note on Friday, July 11th. Citigroup lifted their target price on East West Bancorp from $124.00 to $134.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Finally, Wall Street Zen downgraded East West Bancorp from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $116.64.

East West Bancorp Stock Performance

EWBC traded up $0.11 during trading on Friday, hitting $109.38. The stock had a trading volume of 1,045,442 shares, compared to its average volume of 805,195. The company has a 50 day moving average price of $104.62 and a 200-day moving average price of $94.65. The firm has a market cap of $15.07 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 1.48 and a beta of 0.97. East West Bancorp, Inc. has a one year low of $68.27 and a one year high of $113.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.89.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.05. The business had revenue of $705.00 million during the quarter, compared to the consensus estimate of $702.04 million. East West Bancorp had a return on equity of 15.09% and a net margin of 26.06%.The firm's quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.07 EPS. As a group, research analysts predict that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Monday, August 4th were paid a $0.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.2%. East West Bancorp's payout ratio is 28.04%.

Insider Transactions at East West Bancorp

In related news, Director Jack C. Liu sold 1,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $105.00, for a total value of $105,000.00. Following the completion of the sale, the director directly owned 14,974 shares in the company, valued at $1,572,270. The trade was a 6.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Irene H. Oh sold 7,639 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $109.40, for a total value of $835,706.60. Following the completion of the sale, the insider owned 105,714 shares of the company's stock, valued at $11,565,111.60. This trade represents a 6.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,240 shares of company stock valued at $7,379,678. Company insiders own 1.04% of the company's stock.

East West Bancorp Company 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.