Voloridge Investment Management LLC Invests $2.49 Million in East West Bancorp, Inc. (NASDAQ:EWBC)

Voloridge Investment Management LLC acquired a new stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 26,011 shares of the financial services provider's stock, valued at approximately $2,491,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of East West Bancorp by 1,667.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 670,156 shares of the financial services provider's stock valued at $64,174,000 after acquiring an additional 632,245 shares in the last quarter. FORA Capital LLC bought a new position in East West Bancorp in the fourth quarter worth about $1,072,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in East West Bancorp by 18.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 100,320 shares of the financial services provider's stock worth $9,699,000 after purchasing an additional 15,475 shares in the last quarter. Fisher Asset Management LLC raised its holdings in East West Bancorp by 10.0% in the fourth quarter. Fisher Asset Management LLC now owns 755,555 shares of the financial services provider's stock worth $72,352,000 after purchasing an additional 68,528 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in East West Bancorp in the fourth quarter worth about $100,000. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp Stock Performance

NASDAQ EWBC traded down $0.56 during trading hours on Friday, reaching $91.46. The stock had a trading volume of 850,731 shares, compared to its average volume of 922,969. The stock has a fifty day moving average of $85.41 and a 200 day moving average of $93.85. The stock has a market cap of $12.61 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90. East West Bancorp, Inc. has a 52-week low of $68.27 and a 52-week high of $113.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.91.

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

East West Bancorp Announces Dividend

The company 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 dividend on an annualized basis and a yield of 2.62%. East West Bancorp's dividend payout ratio is currently 28.64%.

Insider Activity at East West Bancorp

In other East West Bancorp news, EVP Lisa L. Kim sold 2,100 shares of the company's 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 sale, the executive vice president now owns 14,849 shares in the company, valued at approximately $1,411,248.96. This represents a 12.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Dominic Ng sold 20,181 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $90.01, for a total value of $1,816,491.81. Following the completion of the sale, the chief executive officer now owns 988,133 shares in the company, valued at approximately $88,941,851.33. This represents a 2.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 102,281 shares of company stock worth $9,473,478 over the last quarter. Insiders own 1.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EWBC. Morgan Stanley downgraded shares of East West Bancorp from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $118.00 to $90.00 in a report on Monday, April 7th. Jefferies Financial Group began coverage on shares of East West Bancorp in a report on Wednesday, May 21st. They issued a "buy" rating and a $115.00 target price for the company. Barclays boosted their target price on shares of East West Bancorp from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Truist Financial began coverage on shares of East West Bancorp in a report on Tuesday, May 13th. They issued a "hold" rating and a $102.00 target price for the company. Finally, DA Davidson reduced their target price on shares of East West Bancorp from $118.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, East West Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.85.

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.