Massachusetts Financial Services Co. MA Sells 358,595 Shares of East West Bancorp, Inc. $EWBC

Key Points

• Massachusetts Financial Services Co. trimmed its stake in East West Bancorp by 16.5%, selling 358,595 shares in Q4 and now holds 1,819,376 shares (~1.32%) worth about $204.48 million.
• Company insiders have been net sellers—CEO Dominic Ng sold 50,000 shares (~$5.89M) and insiders have sold a total of 60,221 shares (~$7.14M) over the past 90 days.
• East West beat Q4 expectations with $2.52 EPS (vs. $2.48 est.) and raised its quarterly dividend to $0.80 (annualized $3.20), implying a ~2.8% yield.

Massachusetts Financial Services Co. MA trimmed its position in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 16.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,819,376 shares of the financial services provider's stock after selling 358,595 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.32% of East West Bancorp worth $204,480,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Foster Dykema Cabot & Partners LLC bought a new stake in East West Bancorp in the 3rd quarter valued at about $26,000. Kelleher Financial Advisors bought a new stake in East West Bancorp in the 3rd quarter valued at about $31,000. Grove Bank & Trust increased its position in East West Bancorp by 82.6% in the 3rd quarter. Grove Bank & Trust now owns 336 shares of the financial services provider's stock valued at $36,000 after buying an additional 152 shares in the last quarter. Mather Group LLC. bought a new stake in East West Bancorp in the 3rd quarter valued at about $38,000. Finally, Wilmington Savings Fund Society FSB increased its position in East West Bancorp by 44.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider's stock valued at $39,000 after buying an additional 113 shares in the last quarter. 89.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Molly Campbell sold 1,800 shares of the business's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $122.81, for a total value of $221,058.00. Following the transaction, the director owned 5,756 shares in the company, valued at $706,894.36. The trade was a 23.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dominic Ng sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $117.82, for a total value of $5,891,000.00. Following the completion of the transaction, the chief executive officer owned 808,331 shares in the company, valued at $95,237,558.42. The trade was a 5.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 60,221 shares of company stock worth $7,139,287 over the last 90 days. 1.04% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

EWBC has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on East West Bancorp in a research report on Tuesday, December 16th. They issued a "buy" rating and a $133.00 target price for the company. TD Cowen decreased their target price on East West Bancorp from $141.00 to $140.00 and set a "buy" rating for the company in a research report on Monday, January 26th. Weiss Ratings reiterated a "buy (b-)" rating on shares of East West Bancorp in a research note on Monday, December 29th. Zacks Research downgraded East West Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 24th. Finally, Keefe, Bruyette & Woods lifted their price target on East West Bancorp from $131.00 to $135.00 and gave the company an "outperform" rating in a research note on Friday, January 23rd. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $127.36.

East West Bancorp Price Performance

EWBC stock opened at $115.55 on Monday. The company has a market capitalization of $15.83 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89. East West Bancorp, Inc. has a 52-week low of $69.02 and a 52-week high of $123.82. The business has a 50-day simple moving average of $111.84 and a two-hundred day simple moving average of $109.60.

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

East West Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, February 2nd. This is a boost from East West Bancorp's previous quarterly dividend of $0.60. East West Bancorp's dividend payout ratio (DPR) is presently 33.61%.

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.

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