Quantinno Capital Management LP Boosts Stock Position in East West Bancorp, Inc. $EWBC

Key Points

• Quantinno Capital Management increased its East West Bancorp stake by 12.4% in the first quarter, adding 22,622 shares to own 205,072 shares valued at approximately $21.9 million. Institutional investors collectively own 89.53% of the company.
• East West Bancorp exceeded quarterly expectations, reporting $2.63 in EPS and $791.14 million in revenue, with revenue up 12.5% year over year. The stock opened at $131, while analysts maintained a “Moderate Buy” consensus and an average price target of $140.23.
• The bank declared a quarterly dividend of $0.80 per share, equivalent to $3.20 annually and a 2.4% yield. Analysts including UBS and DA Davidson raised their price targets, although company insiders sold 52,511 shares worth about $6.56 million over the past three months.

Quantinno Capital Management LP lifted its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 12.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,072 shares of the financial services provider's stock after buying an additional 22,622 shares during the quarter. Quantinno Capital Management LP owned approximately 0.15% of East West Bancorp worth $21,894,000 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. Atlantic Union Bankshares Corp purchased a new stake in East West Bancorp in the 4th quarter worth $31,000. Kelleher Financial Advisors acquired a new position in East West Bancorp during the third quarter worth $31,000. Signaturefd LLC lifted its holdings in East West Bancorp by 115.0% during the fourth quarter. Signaturefd LLC now owns 344 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 184 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in 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. Finally, Quarry LP grew its position in shares of East West Bancorp by 35.4% in the third quarter. Quarry LP now owns 390 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 102 shares during the period. Hedge funds and other institutional investors own 89.53% of the company's stock.

East West Bancorp Trading Up 0.1%

EWBC opened at $131.00 on Friday. The firm has a market capitalization of $17.95 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.52 and a beta of 0.94. The company's 50 day simple moving average is $129.01 and its two-hundred day simple moving average is $120.00. East West Bancorp, Inc. has a 1-year low of $92.67 and a 1-year high of $136.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.88 and a quick ratio of 0.88.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.61 by $0.02. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The business had revenue of $791.14 million during the quarter, compared to analyst estimates of $784.47 million. During the same period in the prior year, the business earned $2.24 earnings per share. The business's revenue was up 12.5% compared to the same quarter last year. Analysts expect that East West Bancorp, Inc. will post 10.59 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.4%. East West Bancorp's dividend payout ratio (DPR) is 30.77%.

Analysts Set New Price Targets

EWBC has been the subject of a number of research reports. UBS Group boosted their target price on shares of East West Bancorp from $125.00 to $138.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Weiss Ratings reiterated a "buy (b)" rating on shares of East West Bancorp in a report on Friday, July 10th. Citigroup reiterated a "buy" rating on shares of East West Bancorp in a report on Thursday, July 23rd. DA Davidson increased their target price on East West Bancorp from $150.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Finally, Wall Street Zen raised East West Bancorp from a "sell" rating to a "hold" rating in a report on Saturday. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $140.23.

Insiders Place Their Bets

In other news, insider Irene H. Oh sold 800 shares of East West Bancorp stock in a transaction on Monday, June 15th. The stock was sold at an average price of $133.19, for a total transaction of $106,552.00. Following the transaction, the insider owned 84,698 shares in the company, valued at $11,280,926.62. The trade was a 0.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dominic Ng sold 30,000 shares of the business'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 transaction, the chief executive officer directly owned 707,930 shares in the company, valued at approximately $87,422,275.70. The trade was a 4.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 52,511 shares of company stock valued at $6,558,721 in the last three months. 0.94% of the stock is currently owned by insiders.

East West Bancorp Company 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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