XTX Topco Ltd Sells 3,506 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Key Points

• XTX Topco Ltd has reduced its stake in East West Bancorp, Inc. by 46.7%, now holding 3,996 shares worth approximately $359,000.
• Despite the reduction by XTX Topco, institutional investors own about 89.53% of East West Bancorp's stock, indicating strong institutional interest.
• East West Bancorp declares a quarterly dividend of $0.60, with a total annualized dividend yield of 2.4% scheduled for payment on August 15th.

XTX Topco Ltd decreased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 46.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,996 shares of the financial services provider's stock after selling 3,506 shares during the quarter. XTX Topco Ltd's holdings in East West Bancorp were worth $359,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Lord Abbett & CO. LLC lifted its stake in shares of East West Bancorp by 20.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,876,438 shares of the financial services provider's stock valued at $179,688,000 after acquiring an additional 324,410 shares during the last quarter. Jennison Associates LLC grew its position in East West Bancorp by 2.0% during the 1st quarter. Jennison Associates LLC now owns 1,701,640 shares of the financial services provider's stock worth $152,739,000 after acquiring an additional 32,855 shares during the last quarter. Northern Trust Corp increased its holdings in East West Bancorp by 22.9% in the 4th quarter. Northern Trust Corp now owns 1,226,124 shares of the financial services provider's stock worth $117,414,000 after purchasing an additional 228,825 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in East West Bancorp by 11.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 486,826 shares of the financial services provider's stock valued at $46,618,000 after purchasing an additional 51,052 shares during the last quarter. Finally, Clark Capital Management Group Inc. boosted its stake in shares of East West Bancorp by 37.1% during the fourth quarter. Clark Capital Management Group Inc. now owns 466,814 shares of the financial services provider's stock valued at $44,702,000 after purchasing an additional 126,206 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on EWBC. DA Davidson upped their price target on shares of East West Bancorp from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Wall Street Zen lowered East West Bancorp from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Wells Fargo & Company upped their price target on East West Bancorp from $100.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Citigroup increased their price target on East West Bancorp from $100.00 to $116.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Barclays lifted their price objective on East West Bancorp from $110.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $114.15.

Insider Buying and Selling

In related news, CEO Dominic Ng sold 40,000 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $103.38, for a total transaction of $4,135,200.00. Following the transaction, the chief executive officer directly owned 888,314 shares of the company's stock, valued at approximately $91,833,901.32. This represents a 4.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.04% of the stock is owned by insiders.

East West Bancorp Trading Down 0.6%

Shares of East West Bancorp stock traded down $0.66 on Thursday, reaching $102.22. 154,369 shares of the company's stock were exchanged, compared to its average volume of 1,029,198. The company has a market capitalization of $14.09 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 1.39 and a beta of 0.97. 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 0.43, a quick ratio of 0.89 and a current ratio of 0.89. The firm's 50-day moving average is $101.23 and its two-hundred day moving average is $93.70.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.05. East West Bancorp had a net margin of 26.06% and a return on equity of 15.09%. The business had revenue of $705.00 million for the quarter, compared to analyst estimates of $702.04 million. During the same period in the prior year, the firm earned $2.07 earnings per share. East West Bancorp's revenue was up 10.3% on a year-over-year basis. Sell-side analysts predict that East West Bancorp, Inc. will post 8.85 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Monday, August 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, August 4th. East West Bancorp's payout ratio is presently 28.04%.

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.