Squarepoint Ops LLC Lowers Stock Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Squarepoint Ops LLC trimmed its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 19.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,718 shares of the financial services provider's stock after selling 14,022 shares during the period. Squarepoint Ops LLC's holdings in East West Bancorp were worth $5,623,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EWBC. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of East West Bancorp during the 4th quarter valued at $26,000. Venturi Wealth Management LLC raised its position in shares of East West Bancorp by 73.2% during the 4th quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 175 shares during the period. Farther Finance Advisors LLC raised its position in shares of East West Bancorp by 119.1% during the 4th quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 306 shares during the period. UMB Bank n.a. raised its position in shares of East West Bancorp by 83.4% during the 4th quarter. UMB Bank n.a. now owns 662 shares of the financial services provider's stock valued at $63,000 after purchasing an additional 301 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of East West Bancorp during the 4th quarter valued at $100,000. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC traded down $0.44 on Friday, reaching $91.58. The company's stock had a trading volume of 133,938 shares, compared to its average volume of 919,842. East West Bancorp, Inc. has a 52-week low of $68.27 and a 52-week high of $113.95. The company has a market cap of $12.62 billion, a P/E ratio of 10.99, a PEG ratio of 1.29 and a beta of 0.90. The company has a 50-day simple moving average of $85.45 and a 200 day simple moving average of $94.09. 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 (NASDAQ:EWBC - Get Free Report) last issued 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. East West Bancorp had a net margin of 25.73% and a return on equity of 15.71%. The business had revenue of $693.00 million during the quarter, compared to analysts' expectations of $673.02 million. As a group, equities research analysts anticipate that East West Bancorp, Inc. will post 8.85 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were issued a dividend of $0.60 per share. The ex-dividend date was Friday, May 2nd. This represents a $2.40 annualized dividend and a yield of 2.62%. East West Bancorp's payout ratio is 28.64%.

Analysts Set New Price Targets

A number of brokerages have issued reports on EWBC. Barclays lifted their price target 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. Morgan Stanley downgraded shares of East West Bancorp from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $118.00 to $90.00 in a report on Monday, April 7th. DA Davidson reduced their price target on shares of East West Bancorp from $118.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Truist Financial began coverage on shares of East West Bancorp in a report on Tuesday, May 13th. They issued a "hold" rating and a $102.00 price target on the stock. Finally, Wells Fargo & Company reduced their price target on shares of East West Bancorp from $120.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $107.85.

Insider Activity at East West Bancorp

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