Twinbeech Capital LP Acquires New Shares in East West Bancorp, Inc. (NASDAQ:EWBC)

Twinbeech Capital LP acquired a new position in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 18,437 shares of the financial services provider's stock, valued at approximately $1,766,000.

Other large investors also recently modified their holdings of the company. Crossmark Global Holdings Inc. raised its holdings in shares of East West Bancorp by 3.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 10,171 shares of the financial services provider's stock worth $974,000 after purchasing an additional 336 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of East West Bancorp by 1,667.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 670,156 shares of the financial services provider's stock worth $64,174,000 after purchasing an additional 632,245 shares during the period. FORA Capital LLC purchased a new stake in shares of East West Bancorp during the 4th quarter valued at about $1,072,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of East West Bancorp by 18.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 100,320 shares of the financial services provider's stock valued at $9,699,000 after buying an additional 15,475 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of East West Bancorp by 10.0% during the 4th quarter. Fisher Asset Management LLC now owns 755,555 shares of the financial services provider's stock valued at $72,352,000 after buying an additional 68,528 shares during the period. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at East West Bancorp

In other news, CEO Dominic Ng sold 19,819 shares of East West Bancorp stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $90.00, for a total value of $1,783,710.00. Following the completion of the transaction, the chief executive officer now owns 968,314 shares in the company, valued at approximately $87,148,260. This trade represents a 2.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa L. Kim sold 2,100 shares of East West Bancorp stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $95.04, for a total value of $199,584.00. Following the completion of the transaction, the executive vice president now owns 14,849 shares of the company's stock, valued at approximately $1,411,248.96. The trade was a 12.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,281 shares of company stock worth $9,473,478. 1.04% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wall Street Zen downgraded East West Bancorp from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Truist Financial assumed coverage on East West Bancorp in a report on Tuesday, May 13th. They set a "hold" rating and a $102.00 target price on the stock. Wells Fargo & Company dropped their target price on East West Bancorp from $120.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Barclays raised their target price on East West Bancorp from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Finally, Morgan Stanley downgraded East West Bancorp from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $118.00 to $90.00 in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $107.85.

East West Bancorp Stock Up 1.3%

EWBC stock traded up $1.17 during midday trading on Tuesday, hitting $91.50. 156,245 shares of the company's stock were exchanged, compared to its average volume of 1,108,669. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp, Inc. has a 12-month low of $68.27 and a 12-month high of $113.95. The firm has a 50 day moving average price of $85.38 and a 200-day moving average price of $94.22. The stock has a market capitalization of $12.61 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. The company had revenue of $693.00 million for the quarter, compared to the consensus estimate of $673.02 million. East West Bancorp had a return on equity of 15.71% and a net margin of 25.73%. On average, analysts anticipate that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Dividend Announcement

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

East West Bancorp Company 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.