WINTON GROUP Ltd Takes $1.09 Million Position in East West Bancorp, Inc. $EWBC

Key Points

• WINTON GROUP Ltd disclosed a new fourth-quarter position in East West Bancorp, buying 9,712 shares valued at about $1.09 million.
• Institutional ownership remains high, with several other funds increasing their stakes; the article says 89.53% of EWBC is owned by institutional investors.
• East West Bancorp reported strong quarterly results, with EPS of $2.57 topping estimates and revenue rising 11.8% year over year, while analysts currently view the stock as a Moderate Buy.

WINTON GROUP Ltd acquired a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 9,712 shares of the financial services provider's stock, valued at approximately $1,092,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Prudential PLC raised its position in shares of East West Bancorp by 486.3% during the 4th quarter. Prudential PLC now owns 16,715 shares of the financial services provider's stock valued at $1,879,000 after purchasing an additional 13,864 shares during the period. Westfield Capital Management Co. LP raised its position in shares of East West Bancorp by 48.3% during the 4th quarter. Westfield Capital Management Co. LP now owns 874,152 shares of the financial services provider's stock valued at $98,246,000 after purchasing an additional 284,617 shares during the period. Vise Technologies Inc. bought a new stake in shares of East West Bancorp during the 4th quarter valued at $244,000. Globeflex Capital L P bought a new stake in shares of East West Bancorp during the 4th quarter valued at $180,000. Finally, State of Wyoming raised its position in shares of East West Bancorp by 160.4% during the 4th quarter. State of Wyoming now owns 3,872 shares of the financial services provider's stock valued at $435,000 after purchasing an additional 2,385 shares during the period. 89.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other East West Bancorp news, Director Archana Deskus sold 1,800 shares of East West Bancorp stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $125.55, for a total value of $225,990.00. Following the completion of the transaction, the director directly owned 13,231 shares of the company's stock, valued at $1,661,152.05. This trade represents a 11.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Dominic Ng sold 30,000 shares of East West Bancorp stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $123.49, for a total transaction of $3,704,700.00. Following the completion of the transaction, the chief executive officer directly owned 707,930 shares of the company's stock, valued at $87,422,275.70. The trade was a 4.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,800 shares of company stock valued at $5,165,690 in the last three months. Corporate insiders own 0.94% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on EWBC shares. Citigroup raised their price objective on shares of East West Bancorp from $139.00 to $145.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. DA Davidson lifted their price target on shares of East West Bancorp from $135.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Barclays reduced their price target on shares of East West Bancorp from $150.00 to $142.00 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. Morgan Stanley reduced their price target on shares of East West Bancorp from $141.00 to $128.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 31st. Finally, Truist Financial lifted their price target on shares of East West Bancorp from $120.00 to $128.00 and gave the company a "hold" rating in a report on Thursday, April 23rd. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $133.69.

East West Bancorp Stock Performance

Shares of NASDAQ EWBC opened at $128.66 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $17.63 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.55 and a beta of 0.94. The firm's fifty day moving average is $119.91 and its two-hundred day moving average is $115.10. East West Bancorp, Inc. has a 52-week low of $90.79 and a 52-week high of $130.10.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.46 by $0.11. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. The company had revenue of $773.75 million for the quarter, compared to the consensus estimate of $767.80 million. During the same period in the previous year, the firm posted $2.08 EPS. East West Bancorp's revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, analysts anticipate that East West Bancorp, Inc. will post 10.6 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 4th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, May 4th. East West Bancorp's dividend payout ratio (DPR) is presently 31.97%.

East West Bancorp 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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