East West Bancorp, Inc. $EWBC Shares Sold by Teza Capital Management LLC

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 lowered its stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 73.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,936 shares of the financial services provider's stock after selling 10,741 shares during the period. Teza Capital Management LLC's holdings in East West Bancorp were worth $353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its holdings in East West Bancorp by 1,971.4% during the 1st quarter. Picton Mahoney Asset Management now owns 290 shares of the financial services provider's stock worth $26,000 after buying an additional 276 shares during the last quarter. WPG Advisers LLC purchased a new position in shares of East West Bancorp in the 1st quarter valued at approximately $28,000. SVB Wealth LLC purchased a new position in East West Bancorp in the 1st quarter valued at $29,000. Versant Capital Management Inc increased its stake in East West Bancorp by 89.7% in the 1st quarter. Versant Capital Management Inc now owns 518 shares of the financial services provider's stock valued at $46,000 after buying an additional 245 shares during the period. Finally, Grove Bank & Trust increased its position in East West Bancorp by 448.9% during the 1st quarter. Grove Bank & Trust now owns 516 shares of the financial services provider's stock worth $46,000 after purchasing an additional 422 shares during the period. 89.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on EWBC shares. Keefe, Bruyette & Woods boosted their target price on East West Bancorp from $110.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Wall Street Zen cut East West Bancorp from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Citigroup increased their target price on East West Bancorp from $124.00 to $134.00 and gave the company a "buy" rating in a report on Monday. DA Davidson increased their price target on East West Bancorp from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Piper Sandler increased their target price on East West Bancorp from $100.00 to $104.00 and gave the stock a "neutral" rating in a research report on Monday. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, East West Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $116.08.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, insider Irene H. Oh sold 15,051 shares of East West Bancorp stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $106.73, for a total transaction of $1,606,393.23. Following the transaction, the insider directly owned 113,353 shares in the company, valued at approximately $12,098,165.69. The trade was a 11.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 1,000 shares of East West Bancorp stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $105.00, for a total transaction of $105,000.00. Following the sale, the director directly owned 14,974 shares of the company's stock, valued at $1,572,270. This trade represents a 6.26% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,240 shares of company stock worth $7,379,678. 1.04% of the stock is owned by corporate insiders.

East West Bancorp Stock Up 1.9%

NASDAQ:EWBC opened at $109.61 on Tuesday. The company has a market capitalization of $15.11 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 1.46 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 stock has a 50-day simple moving average of $104.53 and a 200 day simple moving average of $94.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.89 and a current ratio of 0.89.

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

East West Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 4th were given 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%.

About East West Bancorp

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.

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