Matthew 25 Management Corp Sells 12,500 Shares of East West Bancorp, Inc. $EWBC

Key Points

• Matthew 25 Management Corp sold 12,500 shares of East West Bancorp (a 10.4% reduction) and now holds 107,500 shares worth about $11.44 million, making EWBC its 14th-largest position (~3.5% of the firm's holdings).
• Company insiders have been selling recently — Director Molly Campbell sold 1,800 shares and EVP Gary Teo sold 7,000 on Feb. 6 — and insiders have disposed of 119,065 shares worth $13.86 million over the past 90 days (insiders own 1.04% of the stock).
• East West raised its quarterly dividend to $0.80 (annualized $3.20, ~3.0% yield) after a quarter that beat estimates (EPS $2.52 vs. $2.48; revenue $753.8M), and analysts show a consensus "Moderate Buy" with a $129.21 target price.

Matthew 25 Management Corp lowered its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 10.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,500 shares of the financial services provider's stock after selling 12,500 shares during the period. East West Bancorp makes up about 3.5% of Matthew 25 Management Corp's holdings, making the stock its 14th biggest position. Matthew 25 Management Corp owned 0.08% of East West Bancorp worth $11,443,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in EWBC. Foster Dykema Cabot & Partners LLC bought a new position in shares of East West Bancorp during the 3rd quarter worth approximately $26,000. Grove Bank & Trust increased its stake in shares of 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 acquiring an additional 152 shares in the last quarter. Mather Group LLC. bought a new stake in shares of East West Bancorp in the 3rd quarter valued at $38,000. Wilmington Savings Fund Society FSB lifted its position in shares of East West Bancorp by 44.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 113 shares during the period. Finally, Assetmark Inc. lifted its position in shares of East West Bancorp by 179.9% during the 2nd quarter. Assetmark Inc. now owns 375 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 241 shares during the period. 89.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other East West Bancorp 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 transaction of $221,058.00. Following the completion of the sale, the director directly owned 5,756 shares of the company's stock, valued at approximately $706,894.36. The trade was a 23.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gary Teo sold 7,000 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $122.59, for a total value of $858,130.00. Following the completion of the sale, the executive vice president directly owned 5,252 shares of the company's stock, valued at approximately $643,842.68. This trade represents a 57.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 119,065 shares of company stock worth $13,857,314 over the last ninety days. Insiders own 1.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on EWBC shares. UBS Group set a $125.00 price target on shares of East West Bancorp in a report on Wednesday, February 4th. Truist Financial set a $121.00 price objective on shares of East West Bancorp in a report on Friday, January 23rd. Zacks Research cut shares of East West Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 24th. Weiss Ratings restated a "buy (b-)" rating on shares of East West Bancorp in a research note on Monday, December 29th. Finally, Piper Sandler boosted their target price on East West Bancorp from $111.00 to $116.00 and gave the company a "neutral" rating in a research report on Monday, January 26th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $129.21.

East West Bancorp Stock Performance

NASDAQ EWBC opened at $106.32 on Friday. The company has a market cap of $14.63 billion, a P/E ratio of 11.17, a PEG ratio of 1.38 and a beta of 0.90. The company has a fifty day simple moving average of $115.54 and a 200 day simple moving average of $109.45. The company has a current ratio of 0.89, a quick 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 released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.04. East West Bancorp had a net margin of 28.36% and a return on equity of 15.72%. The firm had revenue of $753.79 million for the quarter, compared to the consensus estimate of $745.04 million. During the same quarter in the prior year, the company posted $2.10 earnings per share. Sell-side analysts predict that East West Bancorp, Inc. will post 8.85 earnings per share 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. Investors of record on Monday, February 2nd were issued a $0.80 dividend. The ex-dividend date was Monday, February 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from East West Bancorp's previous quarterly dividend of $0.60. East West Bancorp's dividend payout ratio (DPR) is currently 33.61%.

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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