Interval Partners LP Acquires Shares of 28,755 East West Bancorp, Inc. (NASDAQ:EWBC)

Interval Partners LP acquired a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 28,755 shares of the financial services provider's stock, valued at approximately $2,754,000.

Other institutional investors have also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of East West Bancorp in the fourth quarter worth about $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of East West Bancorp during the 3rd quarter worth approximately $26,000. Venturi Wealth Management LLC boosted its position in shares of East West Bancorp by 73.2% during the 4th quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 175 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of East West Bancorp by 119.1% during the 4th quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 306 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of East West Bancorp by 83.4% in the fourth quarter. UMB Bank n.a. now owns 662 shares of the financial services provider's stock valued at $63,000 after purchasing an additional 301 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company's stock.

Analyst Ratings Changes

EWBC has been the topic of a number of recent research reports. Morgan Stanley downgraded shares of East West Bancorp from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $118.00 to $90.00 in a research note on Monday, April 7th. Truist Financial initiated coverage on shares of East West Bancorp in a research report on Tuesday. They set a "hold" rating and a $102.00 target price on the stock. DA Davidson lowered their price target 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. Wells Fargo & Company reduced 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. Finally, Piper Sandler decreased their price objective on East West Bancorp from $100.00 to $97.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $105.54.

East West Bancorp Stock Performance

East West Bancorp stock traded down $0.59 during mid-day trading on Thursday, reaching $95.10. 392,106 shares of the company traded hands, compared to its average volume of 917,191. The firm's fifty day moving average is $84.43 and its two-hundred day moving average is $94.67. The company has a market capitalization of $13.17 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90. East West Bancorp, Inc. has a fifty-two week low of $68.27 and a fifty-two week high of $113.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.91 and a quick ratio of 0.92.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last released 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 firm 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, equities research analysts expect that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 2nd will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, May 2nd. East West Bancorp's payout ratio is 28.64%.

Insider Transactions at East West Bancorp

In related news, CEO Dominic Ng sold 20,181 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $90.01, for a total value of $1,816,491.81. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 100,181 shares of company stock worth $9,273,894 over the last three months. 1.04% of the stock is currently owned by insiders.

About East West Bancorp

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.