Strs Ohio Has $18.71 Million Holdings in East West Bancorp, Inc. $EWBC

Key Points

• Strs Ohio trimmed its stake in East West Bancorp by 13.9% in Q4, selling 26,794 shares and finishing the period with 166,474 shares worth about $18.71 million (roughly 0.12% ownership).
• Insiders have been net sellers recently — directors Jack C. Liu and Archana Deskus executed sales and insiders sold 62,021 shares (~$7.37 million) over the past 90 days, leaving insiders with about 0.94% ownership.
• Operational/market update: EWBC beat Q earnings estimates (EPS $2.57 vs $2.46; revenue $773.8M vs $767.8M), declared a $0.80 quarterly dividend (annualized $3.20, ~2.5% yield), and carries a consensus "Moderate Buy" rating with a $132.36 price target.

Strs Ohio decreased its holdings in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 13.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 166,474 shares of the financial services provider's stock after selling 26,794 shares during the quarter. Strs Ohio owned approximately 0.12% of East West Bancorp worth $18,710,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. First Trust Advisors LP increased its holdings in East West Bancorp by 0.5% in the third quarter. First Trust Advisors LP now owns 4,313,856 shares of the financial services provider's stock valued at $459,210,000 after purchasing an additional 19,539 shares during the period. Boston Partners increased its holdings in East West Bancorp by 19.6% in the third quarter. Boston Partners now owns 3,874,737 shares of the financial services provider's stock valued at $412,464,000 after purchasing an additional 633,649 shares during the period. Schroder Investment Management Group increased its holdings in East West Bancorp by 10.9% in the third quarter. Schroder Investment Management Group now owns 3,395,376 shares of the financial services provider's stock valued at $361,879,000 after purchasing an additional 334,429 shares during the period. Bank of America Corp DE increased its holdings in East West Bancorp by 23.6% in the second quarter. Bank of America Corp DE now owns 2,051,360 shares of the financial services provider's stock valued at $207,146,000 after purchasing an additional 391,059 shares during the period. Finally, Earnest Partners LLC increased its holdings in East West Bancorp by 0.5% in the third quarter. Earnest Partners LLC now owns 1,704,106 shares of the financial services provider's stock valued at $181,402,000 after purchasing an additional 8,342 shares during the period. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at East West Bancorp

In other news, Director Jack C. Liu sold 1,421 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $119.00, for a total transaction of $169,099.00. Following the transaction, the director owned 13,553 shares of the company's stock, valued at $1,612,807. This represents a 9.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Archana Deskus sold 1,800 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $125.55, for a total transaction of $225,990.00. Following the transaction, the director directly owned 13,231 shares in the company, valued at $1,661,152.05. This trade represents a 11.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 62,021 shares of company stock worth $7,365,277. 0.94% of the stock is currently owned by insiders.

East West Bancorp Stock Performance

Shares of EWBC opened at $125.84 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $17.24 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.55 and a beta of 0.97. The firm's fifty day simple moving average is $112.48 and its two-hundred day simple moving average is $111.15. East West Bancorp, Inc. has a 12 month low of $86.21 and a 12 month high of $127.52.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.46 by $0.11. The company had revenue of $773.75 million for the quarter, compared to analysts' expectations of $767.80 million. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. The business's revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.08 EPS. As a group, analysts predict that East West Bancorp, Inc. will post 10.57 EPS for the current year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 18th. Stockholders of record on Monday, May 4th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, May 4th. East West Bancorp's dividend payout ratio is 31.97%.

Analyst Ratings Changes

EWBC has been the subject of a number of recent research reports. Cantor Fitzgerald restated an "overweight" rating and issued a $133.00 price objective on shares of East West Bancorp in a report on Wednesday, April 22nd. Morgan Stanley decreased their price objective on East West Bancorp from $141.00 to $128.00 and set an "equal weight" rating for the company in a report on Tuesday, March 31st. Stephens increased their price objective on East West Bancorp from $120.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday, January 26th. DA Davidson increased their price objective on East West Bancorp from $135.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Finally, Truist Financial increased their price objective on East West Bancorp from $120.00 to $128.00 and gave the company a "hold" rating in a report on Thursday, April 23rd. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $132.36.

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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