Teza Capital Management LLC Boosts Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Teza Capital Management LLC increased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 434.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,677 shares of the financial services provider's stock after buying an additional 11,932 shares during the period. Teza Capital Management LLC's holdings in East West Bancorp were worth $1,405,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. grew its holdings in East West Bancorp by 3.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 10,171 shares of the financial services provider's stock worth $974,000 after acquiring an additional 336 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in East West Bancorp by 1,667.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 670,156 shares of the financial services provider's stock worth $64,174,000 after acquiring an additional 632,245 shares in the last quarter. FORA Capital LLC acquired a new position in East West Bancorp during the 4th quarter worth approximately $1,072,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of East West Bancorp by 18.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 100,320 shares of the financial services provider's stock valued at $9,699,000 after buying an additional 15,475 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of East West Bancorp by 10.0% in the 4th quarter. Fisher Asset Management LLC now owns 755,555 shares of the financial services provider's stock valued at $72,352,000 after buying an additional 68,528 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company's stock.

East West Bancorp Stock Performance

East West Bancorp stock traded down $0.61 during trading hours on Friday, reaching $90.33. 434,552 shares of the stock were exchanged, compared to its average volume of 921,423. The stock has a market cap of $12.45 billion, a P/E ratio of 10.84, a P/E/G ratio of 1.29 and a beta of 0.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.91. East West Bancorp, Inc. has a 52-week low of $68.27 and a 52-week high of $113.95. The firm's 50 day moving average is $85.38 and its 200 day moving average is $94.35.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $2.09 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The company had revenue of $693.00 million during the quarter, compared to the consensus estimate of $673.02 million. East West Bancorp had a net margin of 25.73% and a return on equity of 15.71%. Analysts predict that East West Bancorp, Inc. will post 8.85 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 2.66%. East West Bancorp's payout ratio is currently 28.64%.

Analyst Upgrades and Downgrades

EWBC has been the subject of several research analyst reports. Morgan Stanley cut shares of East West Bancorp from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $118.00 to $90.00 in a report on Monday, April 7th. Jefferies Financial Group initiated coverage on shares of East West Bancorp in a report on Wednesday. They issued a "buy" rating and a $115.00 target price for the company. Truist Financial initiated coverage on shares of East West Bancorp in a report on Tuesday, May 13th. They issued a "hold" rating and a $102.00 target price for the company. Barclays upped their target price on shares of East West Bancorp from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Finally, Piper Sandler lowered their target price on shares of East West Bancorp from $100.00 to $97.00 and set a "neutral" rating for the company in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $107.85.

Insiders Place Their Bets

In other news, CEO Dominic Ng sold 20,181 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $90.01, for a total value of $1,816,491.81. Following the completion of the transaction, the chief executive officer now owns 988,133 shares in the company, valued at $88,941,851.33. This trade represents a 2.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lisa L. Kim sold 2,100 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $95.04, for a total transaction of $199,584.00. Following the completion of the transaction, the executive vice president now owns 14,849 shares of the company's stock, valued at $1,411,248.96. This represents a 12.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,281 shares of company stock worth $9,473,478. 1.04% of the stock is owned by insiders.

East West Bancorp 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.