Keeler Thomas Management LLC Lowers Stake in East West Bancorp, Inc. (NASDAQ:EWBC)

Key Points

• Keeler Thomas Management LLC has reduced its stake in East West Bancorp by 32.8%, now owning 12,628 shares worth $1,133,000.
• Wall Street analysts have increased the target price for East West Bancorp's stock, with Barclays setting it at $135.00, while maintaining an "overweight" rating.
• East West Bancorp has announced a $0.60 per share quarterly dividend, with a dividend yield of 2.4%, set to be paid on August 15th.

Keeler Thomas Management LLC lessened its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 32.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,628 shares of the financial services provider's stock after selling 6,160 shares during the period. Keeler Thomas Management LLC's holdings in East West Bancorp were worth $1,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in East West Bancorp in the fourth quarter valued at $26,000. Picton Mahoney Asset Management grew its position in shares of East West Bancorp by 1,971.4% in the first quarter. Picton Mahoney Asset Management now owns 290 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 276 shares during the period. Versant Capital Management Inc grew its position in shares of East West Bancorp by 89.7% in the first quarter. Versant Capital Management Inc now owns 518 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 245 shares during the period. Grove Bank & Trust grew its position in shares of East West Bancorp by 448.9% in the first quarter. Grove Bank & Trust now owns 516 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 422 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of East West Bancorp in the fourth quarter valued at about $100,000. Hedge funds and other institutional investors own 89.53% of the company's stock.

East West Bancorp Stock Performance

NASDAQ:EWBC traded down $0.14 during trading hours on Monday, reaching $98.97. 367,596 shares of the company's stock were exchanged, compared to its average volume of 1,038,125. The firm has a market capitalization of $13.64 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 1.35 and a beta of 0.97. The company has a 50-day moving average of $100.62 and a 200 day moving average of $93.61. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.43. East West Bancorp, Inc. has a 1-year low of $68.27 and a 1-year high of $113.95.

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

East West Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, August 4th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, August 4th. East West Bancorp's dividend payout ratio (DPR) is 28.04%.

Insider Buying and Selling at East West Bancorp

In other news, CEO Dominic Ng sold 40,000 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $103.38, for a total value of $4,135,200.00. Following the completion of the sale, the chief executive officer owned 888,314 shares in the company, valued at approximately $91,833,901.32. This trade represents a 4.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lisa L. Kim sold 2,100 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $95.04, for a total transaction of $199,584.00. Following the completion of the sale, the executive vice president owned 14,849 shares of the company's stock, valued at $1,411,248.96. This trade represents a 12.39% decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EWBC has been the topic of several research analyst reports. DA Davidson lifted their target price on shares of East West Bancorp from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Citigroup lifted their target price on shares of East West Bancorp from $100.00 to $116.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company lifted their target price on shares of East West Bancorp from $100.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Wall Street Zen lowered shares of East West Bancorp from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Finally, Jefferies Financial Group started coverage on shares of East West Bancorp in a research report on Wednesday, May 21st. They set a "buy" rating and a $115.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $114.15.

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.