GAMMA Investing LLC Has $32.99 Million Stake in East West Bancorp, Inc. (NASDAQ:EWBC)

GAMMA Investing LLC boosted its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 10,357.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 367,477 shares of the financial services provider's stock after purchasing an additional 363,963 shares during the period. GAMMA Investing LLC owned about 0.27% of East West Bancorp worth $32,985,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of East West Bancorp by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 14,197,068 shares of the financial services provider's stock worth $1,359,511,000 after buying an additional 70,503 shares in the last quarter. FMR LLC boosted its position in East West Bancorp by 1.4% during the 4th quarter. FMR LLC now owns 7,990,468 shares of the financial services provider's stock worth $765,167,000 after acquiring an additional 107,665 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in East West Bancorp by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,418,840 shares of the financial services provider's stock worth $423,148,000 after acquiring an additional 186,887 shares during the last quarter. Invesco Ltd. grew its stake in shares of East West Bancorp by 17.0% during the 4th quarter. Invesco Ltd. now owns 3,018,504 shares of the financial services provider's stock worth $289,052,000 after acquiring an additional 437,676 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of East West Bancorp by 6.9% in the fourth quarter. Schroder Investment Management Group now owns 2,831,862 shares of the financial services provider's stock valued at $272,652,000 after purchasing an additional 183,675 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company's stock.

Insider Activity at East West Bancorp

In related news, EVP Lisa L. Kim sold 2,100 shares of East West Bancorp stock in a transaction that occurred 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 now directly owns 14,849 shares of the company's stock, valued at approximately $1,411,248.96. This trade represents a 12.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Dominic Ng sold 19,819 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $90.00, for a total value of $1,783,710.00. Following the completion of the sale, the chief executive officer now owns 968,314 shares of the company's stock, valued at $87,148,260. This trade represents a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,919 shares of company stock worth $5,840,494. Insiders own 1.04% of the company's stock.

East West Bancorp Stock Performance

Shares of NASDAQ EWBC traded up $2.40 during midday trading on Friday, hitting $93.93. 287,044 shares of the company's stock were exchanged, compared to its average volume of 919,290. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $12.95 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90. East West Bancorp, Inc. has a 12 month low of $68.27 and a 12 month high of $113.95. The company's 50 day moving average price is $85.48 and its 200 day moving average price is $93.65.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last released 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 firm had revenue of $693.00 million during the quarter, compared to analysts' expectations of $673.02 million. As a group, analysts predict that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were paid a $0.60 dividend. The ex-dividend date was Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 2.56%. East West Bancorp's dividend payout ratio (DPR) is currently 28.64%.

Analyst Ratings Changes

EWBC has been the subject of several recent research reports. Morgan Stanley cut shares of East West Bancorp from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $118.00 to $90.00 in a report on Monday, April 7th. Wells Fargo & Company reduced their price objective on shares of East West Bancorp from $120.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Jefferies Financial Group initiated coverage on East West Bancorp in a report on Wednesday, May 21st. They issued a "buy" rating and a $115.00 price objective for the company. DA Davidson dropped their target price on East West Bancorp from $118.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Barclays increased their price target on East West Bancorp from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $107.85.

About East West Bancorp

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.