Tidal Investments LLC Reduces Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Tidal Investments LLC decreased its stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 57.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,984 shares of the financial services provider's stock after selling 13,690 shares during the period. Tidal Investments LLC's holdings in East West Bancorp were worth $956,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of East West Bancorp in the 4th quarter worth approximately $166,590,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of East West Bancorp by 1,667.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 670,156 shares of the financial services provider's stock valued at $64,174,000 after buying an additional 632,245 shares during the last quarter. Boston Partners grew its stake in shares of East West Bancorp by 23.1% during the 4th quarter. Boston Partners now owns 2,383,284 shares of the financial services provider's stock worth $228,269,000 after acquiring an additional 447,057 shares during the period. Invesco Ltd. increased its holdings in East West Bancorp by 17.0% in the 4th quarter. Invesco Ltd. now owns 3,018,504 shares of the financial services provider's stock worth $289,052,000 after acquiring an additional 437,676 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in East West Bancorp in the 4th quarter valued at about $32,138,000. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

East West Bancorp Price Performance

Shares of EWBC traded down $0.36 during trading hours on Friday, reaching $91.66. 109,994 shares of the company's stock traded hands, compared to its average volume of 919,780. East West Bancorp, Inc. has a 12 month low of $68.27 and a 12 month high of $113.95. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market cap of $12.63 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90. The firm's 50 day simple moving average is $85.45 and its 200-day simple moving average is $94.09.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.04. The business had revenue of $693.00 million during the quarter, compared to analyst estimates of $673.02 million. East West Bancorp had a net margin of 25.73% and a return on equity of 15.71%. Equities analysts expect that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $2.40 annualized dividend and a yield of 2.62%. East West Bancorp's dividend payout ratio (DPR) is presently 28.64%.

Analyst Upgrades and Downgrades

EWBC has been the subject of a number of research reports. Truist Financial assumed coverage on shares of East West Bancorp in a research report on Tuesday, May 13th. They set a "hold" rating and a $102.00 target price for the company. Wall Street Zen lowered shares of East West Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. DA Davidson dropped their target price on East West Bancorp from $118.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Barclays raised their price target on East West Bancorp from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company decreased their price objective on East West Bancorp from $120.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $107.85.

Insider Activity at East West Bancorp

In other East West Bancorp news, CEO Dominic Ng sold 40,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.43, for a total value of $3,857,200.00. Following the completion of the sale, the chief executive officer now owns 928,314 shares of the company's stock, valued at $89,517,319.02. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa L. Kim sold 2,100 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $95.04, for a total transaction of $199,584.00. Following the transaction, the executive vice president now owns 14,849 shares in the company, valued at $1,411,248.96. The trade was a 12.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,281 shares of company stock valued at $9,473,478 over the last 90 days. 1.04% of the stock is 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.