New Age Alpha Advisors LLC Makes New Investment in East West Bancorp, Inc. $EWBC

Key Points

• New Age Alpha Advisors opened a new position in East West Bancorp, buying 15,423 shares worth about $1.73 million in the fourth quarter.
• Insiders have been selling shares: Vice Chairman Douglas Paul Krause sold 10,000 shares and Director Archana Deskus sold 1,800 shares, bringing total insider sales over the last 90 days to 41,800 shares worth about $5.17 million.
• East West Bancorp reported strong quarterly results, with EPS of $2.57 beating estimates and revenue rising 11.8% year over year; analysts currently view the stock as a Moderate Buy with a consensus target of $133.69.

New Age Alpha Advisors LLC acquired a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 15,423 shares of the financial services provider's stock, valued at approximately $1,733,000.

Several other hedge funds have also recently modified their holdings of the stock. Foster Dykema Cabot & Partners LLC bought a new position in shares of East West Bancorp during the third quarter worth $26,000. Atlantic Union Bankshares Corp purchased a new stake in East West Bancorp in the 4th quarter worth $31,000. Kelleher Financial Advisors purchased a new stake in East West Bancorp in the 3rd quarter worth $31,000. Signaturefd LLC boosted its holdings in shares of East West Bancorp by 115.0% during the 4th quarter. Signaturefd LLC now owns 344 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 184 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its position in shares of East West Bancorp by 44.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company's stock.

Insider Activity at East West Bancorp

In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $123.50, for a total transaction of $1,235,000.00. Following the transaction, the insider owned 46,974 shares in the company, valued at $5,801,289. The trade was a 17.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Archana Deskus sold 1,800 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $125.55, for a total transaction of $225,990.00. Following the completion of the sale, the director directly owned 13,231 shares in the company, valued at approximately $1,661,152.05. This represents a 11.98% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 41,800 shares of company stock worth $5,165,690. Company insiders own 0.94% of the company's stock.

East West Bancorp Trading Down 1.0%

EWBC opened at $123.48 on Thursday. The stock has a 50-day moving average of $116.51 and a 200 day moving average of $113.78. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. East West Bancorp, Inc. has a 12 month low of $88.97 and a 12 month high of $127.51. The firm has a market cap of $16.92 billion, a P/E ratio of 12.34, a P/E/G ratio of 1.53 and a beta of 0.97.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.46 by $0.11. The business 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 company's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.08 earnings per share. As a group, research analysts forecast that East West Bancorp, Inc. will post 10.6 EPS for the current year.

East West Bancorp Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. UBS Group boosted their target price on East West Bancorp from $125.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Cantor Fitzgerald restated an "overweight" rating and set a $133.00 price target on shares of East West Bancorp in a report on Wednesday, April 22nd. Citigroup upped their price objective on East West Bancorp from $139.00 to $145.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Barclays lowered their target price on East West Bancorp from $150.00 to $142.00 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. Finally, DA Davidson raised their target price on shares of East West Bancorp from $135.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, East West Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $133.69.

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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