Intech Investment Management LLC Boosts Stock Position in East West Bancorp, Inc. $EWBC

Key Points

• Intech Investment Management LLC boosted its East West Bancorp stake by 135.2% in the fourth quarter, adding 90,614 shares to bring its total to 157,630 shares worth about $17.7 million.
• East West Bancorp reported better-than-expected quarterly results, with EPS of $2.57 versus estimates of $2.46 and revenue of $773.75 million, up 11.8% from a year ago.
• The bank also paid a quarterly dividend of $0.80 per share, while analysts remain constructive overall with a consensus Moderate Buy rating and average price target of $133.69.

Intech Investment Management LLC lifted its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 135.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,630 shares of the financial services provider's stock after buying an additional 90,614 shares during the quarter. Intech Investment Management LLC owned approximately 0.11% of East West Bancorp worth $17,716,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its holdings in East West Bancorp by 84,090.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider's stock worth $596,967,000 after acquiring an additional 5,305,257 shares in the last quarter. First Trust Advisors LP grew its position in shares of East West Bancorp by 0.5% in the third quarter. First Trust Advisors LP now owns 4,313,856 shares of the financial services provider's stock valued at $459,210,000 after purchasing an additional 19,539 shares during the period. Boston Partners grew its position 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 valued at $412,464,000 after purchasing an additional 633,649 shares during the period. Schroder Investment Management Group increased its stake in shares of East West Bancorp by 10.9% during the third quarter. Schroder Investment Management Group now owns 3,395,376 shares of the financial services provider's stock worth $361,879,000 after purchasing an additional 334,429 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of East West Bancorp by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,825,161 shares of the financial services provider's stock worth $319,523,000 after purchasing an additional 27,402 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company's stock.

East West Bancorp Price Performance

EWBC stock opened at $123.05 on Friday. East West Bancorp, Inc. has a 1 year low of $88.97 and a 1 year high of $127.51. 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 firm has a market capitalization of $16.86 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 1.51 and a beta of 0.97. The business has a 50 day simple moving average of $116.87 and a 200-day simple moving average of $113.92.

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

East West Bancorp Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. DA Davidson lifted their price objective on East West Bancorp from $135.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Citigroup lifted their price target on East West Bancorp from $139.00 to $145.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Morgan Stanley dropped their price target on 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. Cantor Fitzgerald reissued an "overweight" rating and issued a $133.00 price objective on shares of East West Bancorp in a research note on Wednesday, April 22nd. Finally, Piper Sandler lifted their target price on shares of 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 research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $133.69.

Insider Activity at East West Bancorp

In related news, 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of East West Bancorp stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $123.50, for a total transaction of $1,235,000.00. Following the transaction, the insider directly owned 46,974 shares in the company, valued at $5,801,289. This trade represents a 17.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 41,800 shares of company stock valued at $5,165,690. 0.94% of the stock is owned by company insiders.

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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