East West Bancorp, Inc. $EWBC Stake Lowered by Empowered Funds LLC

Empowered Funds LLC trimmed its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 78.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,815 shares of the financial services provider's stock after selling 24,441 shares during the quarter. Empowered Funds LLC's holdings in East West Bancorp were worth $728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EWBC. Edgestream Partners L.P. increased its position in East West Bancorp by 7.1% in the first quarter. Edgestream Partners L.P. now owns 88,080 shares of the financial services provider's stock worth $9,403,000 after buying an additional 5,828 shares during the period. Bull Harbor Capital LLC acquired a new position in shares of East West Bancorp during the first quarter valued at $248,000. EverSource Wealth Advisors LLC grew its position in shares of East West Bancorp by 19.3% during the first quarter. EverSource Wealth Advisors LLC now owns 3,116 shares of the financial services provider's stock worth $333,000 after acquiring an additional 504 shares during the last quarter. California State Teachers Retirement System grew its position in shares of East West Bancorp by 25.7% during the first quarter. California State Teachers Retirement System now owns 163,760 shares of the financial services provider's stock worth $17,483,000 after acquiring an additional 33,519 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of East West Bancorp by 32.9% in the 1st quarter. Royal Bank of Canada now owns 123,169 shares of the financial services provider's stock worth $13,151,000 after acquiring an additional 30,510 shares during the period. Institutional investors and hedge funds own 89.53% of the company's stock.

East West Bancorp Stock Performance

EWBC stock opened at $135.52 on Tuesday. The company has a 50-day simple moving average of $131.26 and a 200 day simple moving average of $121.54. The company has a market capitalization of $18.57 billion, a P/E ratio of 13.03, a PEG ratio of 1.58 and a beta of 0.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.33. East West Bancorp, Inc. has a fifty-two week low of $92.67 and a fifty-two week high of $137.47.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $2.63 EPS for the quarter, beating the consensus estimate of $2.61 by $0.02. East West Bancorp had a net margin of 30.45% and a return on equity of 16.07%. The firm had revenue of $789.98 million for the quarter, compared to analysts' expectations of $784.47 million. During the same quarter last year, the company earned $2.24 EPS. East West Bancorp's quarterly revenue was up 12.5% on a year-over-year basis. Sell-side analysts predict that East West Bancorp, Inc. will post 10.61 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 3rd were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, August 3rd. East West Bancorp's dividend payout ratio (DPR) is currently 30.77%.

Wall Street Analysts Forecast Growth

EWBC has been the subject of a number of analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of East West Bancorp in a research note on Friday, July 10th. Cantor Fitzgerald restated an "overweight" rating and issued a $150.00 price target on shares of East West Bancorp in a research note on Wednesday, July 22nd. Barclays lifted their price target on East West Bancorp from $150.00 to $155.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. Morgan Stanley boosted their price objective on East West Bancorp from $128.00 to $131.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. Finally, DA Davidson increased their price objective on East West Bancorp from $150.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $141.77.

Insider Activity at East West Bancorp

In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the stock in a transaction on 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 transaction, the insider directly owned 46,974 shares of the company's stock, valued at approximately $5,801,289. This trade represents a 17.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 approximately $11,093,742. The trade was a 11.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 33,511 shares of company stock worth $4,312,741 over the last quarter. 0.94% of the stock is currently owned by company insiders.

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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