Inceptionr LLC Has $1.73 Million Stock Holdings in East West Bancorp, Inc. $EWBC

Key Points

• Inceptionr LLC boosted its stake in East West Bancorp by 403% in Q3 to 16,237 shares worth about $1.73 million, making EWBC its 23rd largest position (0.4% of holdings).
• Insiders have been net sellers, with 119,065 shares sold over the past 90 days (~$13.86 million), including EVP Gary Teo (7,000 shares) and Director Jack C. Liu (1,421 shares).
• East West raised its quarterly dividend from $0.60 to $0.80 (annualized $3.20, ~3.0% yield), posted an EPS beat ($2.52 vs. $2.48), and holds a consensus analyst rating of "Moderate Buy" with an average target of $129.21.

Inceptionr LLC grew its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 403.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,237 shares of the financial services provider's stock after buying an additional 13,009 shares during the period. East West Bancorp makes up 0.4% of Inceptionr LLC's holdings, making the stock its 23rd biggest position. Inceptionr LLC's holdings in East West Bancorp were worth $1,728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of EWBC. Invesco Ltd. grew its stake in shares of East West Bancorp by 38.5% in the second quarter. Invesco Ltd. now owns 10,683,377 shares of the financial services provider's stock valued at $1,078,807,000 after acquiring an additional 2,968,716 shares in the last quarter. Norges Bank acquired a new stake in East West Bancorp in the 2nd quarter worth about $174,431,000. Boston Partners raised its stake in East West Bancorp by 39.6% in the 2nd quarter. Boston Partners now owns 3,241,088 shares of the financial services provider's stock worth $327,271,000 after purchasing an additional 920,159 shares in the last quarter. Sei Investments Co. boosted its holdings in East West Bancorp by 448.5% in the 2nd quarter. Sei Investments Co. now owns 840,371 shares of the financial services provider's stock valued at $84,861,000 after purchasing an additional 687,145 shares during the period. Finally, AQR Capital Management LLC boosted its holdings 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 valued at $143,207,000 after purchasing an additional 542,149 shares during the period. Institutional investors and hedge funds own 89.53% of the company's stock.

Insider Activity

In other news, EVP Gary Teo sold 7,000 shares of the business's stock in a transaction on Friday, February 6th. The stock was sold at an average price of $122.59, for a total transaction of $858,130.00. Following the completion of the transaction, the executive vice president owned 5,252 shares of the company's stock, valued at approximately $643,842.68. The trade was a 57.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 1,421 shares of the business's stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $119.00, for a total value of $169,099.00. Following the transaction, the director directly owned 13,553 shares of the company's stock, valued at $1,612,807. This trade represents a 9.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 119,065 shares of company stock valued at $13,857,314. Corporate insiders own 1.04% of the company's stock.

East West Bancorp Price Performance

EWBC stock opened at $106.32 on Monday. The company's 50-day moving average price is $115.54 and its two-hundred day moving average price is $109.51. The firm has a market cap of $14.63 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.38 and a beta of 0.90. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34. East West Bancorp, Inc. has a 12 month low of $68.27 and a 12 month high of $123.82.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $2.52 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.04. The company had revenue of $753.79 million during the quarter, compared to the consensus estimate of $745.04 million. East West Bancorp had a net margin of 28.36% and a return on equity of 15.72%. During the same quarter in the prior year, the firm posted $2.10 EPS. On average, analysts anticipate that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were given a dividend of $0.80 per share. This is an increase from East West Bancorp's previous quarterly dividend of $0.60. This represents a $3.20 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, February 2nd. East West Bancorp's dividend payout ratio (DPR) is presently 33.61%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on EWBC shares. Piper Sandler raised their target price on shares of East West Bancorp from $111.00 to $116.00 and gave the stock a "neutral" rating in a report on Monday, January 26th. Zacks Research cut East West Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 24th. Morgan Stanley increased their price target on East West Bancorp from $126.00 to $141.00 and gave the stock an "equal weight" rating in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft began coverage on East West Bancorp in a research note on Tuesday, December 16th. They set a "buy" rating and a $133.00 price objective on the stock. Finally, Keefe, Bruyette & Woods lifted their price objective on East West Bancorp from $131.00 to $135.00 and gave the company an "outperform" rating in a report on Friday, January 23rd. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $129.21.

About East West Bancorp

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.