Ruffer LLP Sells 7,310 Shares of East West Bancorp, Inc. $EWBC

Key Points

• Ruffer LLP significantly reduced its holdings in East West Bancorp by selling 7,310 shares, a decrease of 65.3%, leaving them with 3,890 shares worth approximately $393,000.
• East West Bancorp reported earnings of $2.28 per share for the last quarter, exceeding analysts' expectations, with revenue up 10.3% year-over-year at $705 million.
• The company announced a quarterly dividend of $0.60 per share, representing an annualized yield of 2.3%, with a payout ratio of 28.04%.

Ruffer LLP reduced its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 65.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,890 shares of the financial services provider's stock after selling 7,310 shares during the quarter. Ruffer LLP's holdings in East West Bancorp were worth $393,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Perigon Wealth Management LLC raised its stake in East West Bancorp by 21.4% during the 2nd quarter. Perigon Wealth Management LLC now owns 2,728 shares of the financial services provider's stock worth $275,000 after buying an additional 481 shares during the period. Retirement Guys Formula LLC purchased a new position in shares of East West Bancorp during the 2nd quarter valued at $211,000. Fifth Third Bancorp grew its stake in shares of East West Bancorp by 85.3% during the 2nd quarter. Fifth Third Bancorp now owns 25,661 shares of the financial services provider's stock worth $2,591,000 after acquiring an additional 11,814 shares during the period. GAMMA Investing LLC grew its stake in shares of East West Bancorp by 8.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,422 shares of the financial services provider's stock worth $447,000 after acquiring an additional 328 shares during the period. Finally, Painted Porch Advisors LLC grew its stake in shares of East West Bancorp by 32.1% during the 2nd quarter. Painted Porch Advisors LLC now owns 5,838 shares of the financial services provider's stock worth $590,000 after acquiring an additional 1,417 shares during the period. 89.53% of the stock is owned by institutional investors and hedge funds.

East West Bancorp Stock Down 0.5%

EWBC stock opened at $105.76 on Thursday. East West Bancorp, Inc. has a fifty-two week low of $68.27 and a fifty-two week high of $113.95. The business's 50 day moving average price is $104.69 and its two-hundred day moving average price is $95.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $14.58 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.44 and a beta of 0.97.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $2.23 by $0.05. East West Bancorp had a return on equity of 15.09% and a net margin of 26.06%.The firm had revenue of $705.00 million for the quarter, compared to the consensus estimate of $702.04 million. During the same quarter in the prior year, the business earned $2.07 EPS. The business's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts forecast that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 4th were issued a dividend of $0.60 per share. The ex-dividend date was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.3%. East West Bancorp's dividend payout ratio is 28.04%.

Insider Buying and Selling

In other news, EVP Gary Teo sold 6,550 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $106.47, for a total value of $697,378.50. Following the sale, the executive vice president directly owned 12,235 shares of the company's stock, valued at $1,302,660.45. The trade was a 34.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jack C. Liu sold 1,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $105.00, for a total value of $105,000.00. Following the completion of the sale, the director directly owned 14,974 shares in the company, valued at approximately $1,572,270. This represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,240 shares of company stock valued at $7,379,678. 1.04% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Cantor Fitzgerald began coverage on East West Bancorp in a report on Wednesday, September 10th. They issued an "overweight" rating and a $124.00 price target for the company. Keefe, Bruyette & Woods lifted their price target on East West Bancorp from $110.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company lifted their price objective on East West Bancorp from $100.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Wall Street Zen downgraded East West Bancorp from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Finally, DA Davidson lifted their price objective on East West Bancorp from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, East West Bancorp has an average rating of "Moderate Buy" and an average price target of $116.64.

About East West Bancorp

East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.

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