2,711 Shares in East West Bancorp, Inc. $EWBC Purchased by Sivia Capital Partners LLC

Key Points

• Sivia Capital Partners LLC has made a new investment of $274,000 in East West Bancorp, acquiring 2,711 shares during the 2nd quarter.
• CEO Dominic Ng sold 40,000 shares for approximately $4.14 million, representing a 4.31% decrease in his ownership of the stock.
• East West Bancorp reported an earnings per share (EPS) of $2.28 for the last quarter, exceeding analysts' expectations of $2.23.

Sivia Capital Partners LLC acquired a new stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,711 shares of the financial services provider's stock, valued at approximately $274,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in EWBC. Man Group plc acquired a new stake in shares of East West Bancorp during the 4th quarter worth approximately $1,355,000. ProShare Advisors LLC increased its holdings in shares of East West Bancorp by 7.3% during the 4th quarter. ProShare Advisors LLC now owns 6,486 shares of the financial services provider's stock worth $621,000 after buying an additional 444 shares during the last quarter. Twinbeech Capital LP acquired a new stake in shares of East West Bancorp during the 4th quarter worth approximately $1,766,000. Voloridge Investment Management LLC acquired a new stake in shares of East West Bancorp during the 4th quarter worth approximately $2,491,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of East West Bancorp by 11.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 486,826 shares of the financial services provider's stock worth $46,618,000 after buying an additional 51,052 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. DA Davidson increased their price objective on shares of East West Bancorp from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods increased their price objective on shares of East West Bancorp from $110.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Truist Financial increased their price objective on shares of East West Bancorp from $102.00 to $110.00 and gave the stock a "hold" rating in a research report on Friday, July 11th. Piper Sandler increased their price objective on shares of East West Bancorp from $100.00 to $104.00 and gave the stock a "neutral" rating in a research report on Monday, September 8th. Finally, Wells Fargo & Company increased their price objective on shares of East West Bancorp from $100.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $116.64.

East West Bancorp Stock Down 0.7%

NASDAQ:EWBC traded down $0.75 during midday trading on Friday, hitting $108.95. 3,004,956 shares of the company were exchanged, compared to its average volume of 875,299. The company has a fifty day simple moving average of $104.68 and a 200 day simple moving average of $95.18. East West Bancorp, Inc. has a fifty-two week low of $68.27 and a fifty-two week high of $113.95. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $15.02 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.48 and a beta of 0.97.

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

East West Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.2%. East West Bancorp's payout ratio is presently 28.04%.

Insider Activity

In other news, CEO Dominic Ng sold 40,000 shares of East West Bancorp stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $103.38, for a total value of $4,135,200.00. Following the sale, the chief executive officer owned 888,314 shares of the company's stock, valued at $91,833,901.32. The trade was a 4.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 1,000 shares of East West Bancorp stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $105.00, for a total transaction 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. The trade was a 6.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,240 shares of company stock worth $7,379,678 in the last ninety days. 1.04% of the stock is currently owned by insiders.

East West Bancorp Profile

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.