Entropy Technologies LP Purchases New Holdings in East West Bancorp, Inc. $EWBC

Entropy Technologies LP acquired a new position in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,006 shares of the financial services provider's stock, valued at approximately $3,630,000.

Several other institutional investors have also added to or reduced their stakes in EWBC. Northwestern Mutual Wealth Management Co. boosted its holdings in East West Bancorp by 84,090.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider's stock valued at $596,967,000 after acquiring an additional 5,305,257 shares during the period. Norges Bank acquired a new position in East West Bancorp during the 4th quarter valued at about $199,529,000. Price T Rowe Associates Inc. MD raised its position in shares of East West Bancorp by 281.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,607,314 shares of the financial services provider's stock valued at $180,647,000 after purchasing an additional 1,185,781 shares during the last quarter. Boston Partners raised its holdings in shares of East West Bancorp by 19.6% in the third quarter. Boston Partners now owns 3,874,737 shares of the financial services provider's stock worth $412,464,000 after buying an additional 633,649 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in East West Bancorp by 61.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,418,174 shares of the financial services provider's stock worth $143,207,000 after acquiring an additional 542,149 shares during the last quarter. Institutional investors own 89.53% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group lifted their price objective on shares of East West Bancorp from $125.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Morgan Stanley raised their price target on shares of East West Bancorp from $128.00 to $131.00 and gave the company an "equal weight" rating in a research report on Monday, June 29th. Barclays lifted their price target on East West Bancorp from $142.00 to $150.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Stephens boosted their price target on shares of East West Bancorp from $129.00 to $135.00 and gave the stock an "equal weight" rating in a report on Wednesday. Finally, Piper Sandler boosted their price objective on East West Bancorp from $111.00 to $123.00 and gave the stock a "neutral" rating in a research note on Monday, April 27th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, East West Bancorp has an average rating of "Moderate Buy" and a consensus target price of $140.23.

Insiders Place Their Bets

In other news, insider Irene H. Oh sold 11,211 shares of the company's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $129.00, for a total value of $1,446,219.00. Following the transaction, the insider owned 85,998 shares of the company's stock, valued at $11,093,742. This represents a 11.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dominic Ng sold 30,000 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $123.49, for a total value of $3,704,700.00. Following the completion of the transaction, the chief executive officer directly owned 707,930 shares in the company, valued at approximately $87,422,275.70. This trade represents a 4.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 54,311 shares of company stock valued at $6,784,711. 0.94% of the stock is currently owned by insiders.

East West Bancorp Stock Performance

Shares of East West Bancorp stock opened at $131.00 on Friday. The business's 50 day moving average price is $128.17 and its 200 day moving average price is $119.53. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $17.95 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.51 and a beta of 0.94. East West Bancorp, Inc. has a one year low of $92.67 and a one year high of $136.24.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.61 by $0.02. The firm had revenue of $791.14 million during the quarter, compared to analyst estimates of $784.47 million. East West Bancorp had a net margin of 30.45% and a return on equity of 16.07%. East West Bancorp's quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.24 earnings per share. On average, research analysts predict that East West Bancorp, Inc. will post 10.59 EPS for the current year.

East West Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, August 3rd. East West Bancorp's dividend payout ratio is presently 30.77%.

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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