Fisher Asset Management LLC Increases Stock Position in East West Bancorp, Inc. $EWBC

Key Points

• Fisher Asset Management increased its East West Bancorp stake by 4.7% in the fourth quarter, holding 781,443 shares worth about $87.8 million after the purchase.
• East West Bancorp reported better-than-expected quarterly earnings of $2.57 per share on revenue of $773.75 million, with revenue up 11.8% year over year.
• The company also paid a quarterly dividend of $0.80 per share, equal to an annualized yield of 2.6%, while analysts currently rate the stock a Moderate Buy with a consensus price target of $133.69.

Fisher Asset Management LLC increased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 781,443 shares of the financial services provider's stock after purchasing an additional 34,815 shares during the period. Fisher Asset Management LLC owned 0.57% of East West Bancorp worth $87,826,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Geneos Wealth Management Inc. boosted its position in East West Bancorp by 66.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 801 shares of the financial services provider's stock valued at $72,000 after acquiring an additional 321 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of East West Bancorp in the 2nd quarter valued at $274,000. Baird Financial Group Inc. bought a new position in shares of East West Bancorp in the 2nd quarter worth $290,000. Marshall Wace LLP lifted its stake in shares of East West Bancorp by 34.3% during the 2nd quarter. Marshall Wace LLP now owns 3,223 shares of the financial services provider's stock worth $325,000 after purchasing an additional 823 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of East West Bancorp by 118.7% during the 2nd quarter. Cerity Partners LLC now owns 35,335 shares of the financial services provider's stock worth $3,568,000 after purchasing an additional 19,178 shares during the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Stock Performance

Shares of NASDAQ:EWBC opened at $123.12 on Tuesday. East West Bancorp, Inc. has a 1 year low of $88.26 and a 1 year high of $127.51. The firm has a market capitalization of $16.87 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. The business's 50 day moving average price is $115.70 and its 200-day moving average price is $113.46.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.46 by $0.11. The company had revenue of $773.75 million during the quarter, compared to analyst estimates of $767.80 million. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. The firm's revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.08 EPS. On average, equities research analysts forecast that East West Bancorp, Inc. will post 10.6 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 4th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.6%. East West Bancorp's payout ratio is currently 31.97%.

Analysts Set New Price Targets

EWBC has been the topic of several analyst reports. UBS Group lifted their target price on 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 decreased their price target on shares of East West Bancorp from $141.00 to $128.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 31st. DA Davidson raised their price target on shares of East West Bancorp from $135.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Piper Sandler lifted their price objective on shares of East West Bancorp from $111.00 to $123.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. Finally, Barclays reduced their price objective on shares of East West Bancorp from $150.00 to $142.00 and set an "overweight" rating for the company in a research note on Tuesday, April 7th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $133.69.

Insider Transactions at East West Bancorp

In related news, Director Archana Deskus sold 1,800 shares of the company's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $125.55, for a total transaction of $225,990.00. Following the completion of the transaction, the director owned 13,231 shares in the company, valued at $1,661,152.05. This represents a 11.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dominic Ng sold 30,000 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $123.49, for a total transaction 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 $87,422,275.70. This represents a 4.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.94% of the stock is owned by insiders.

East West Bancorp Company 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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