Victory Capital Management Inc. Has $26.24 Million Stock Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Victory Capital Management Inc. raised its position in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 23.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 364,702 shares of the financial services provider's stock after acquiring an additional 69,485 shares during the period. Victory Capital Management Inc. owned approximately 0.26% of East West Bancorp worth $26,240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EWBC. Ruffer LLP acquired a new stake in East West Bancorp in the third quarter valued at $33,675,000. Boston Partners grew its position in East West Bancorp by 36.4% during the third quarter. Boston Partners now owns 1,827,146 shares of the financial services provider's stock worth $96,313,000 after buying an additional 487,418 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in East West Bancorp by 83.0% in the third quarter. Adage Capital Partners GP L.L.C. now owns 863,619 shares of the financial services provider's stock valued at $45,521,000 after buying an additional 391,702 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its position in shares of East West Bancorp by 392.1% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 453,825 shares of the financial services provider's stock valued at $23,921,000 after acquiring an additional 361,597 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of East West Bancorp by 256.6% during the 3rd quarter. AQR Capital Management LLC now owns 487,383 shares of the financial services provider's stock worth $25,690,000 after acquiring an additional 350,706 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company's stock.

East West Bancorp Price Performance

Shares of EWBC stock remained flat at $77.44 during trading hours on Wednesday. 833,321 shares of the stock traded hands, compared to its average volume of 1,203,017. East West Bancorp, Inc. has a 1-year low of $42.60 and a 1-year high of $79.54. The business's 50-day moving average price is $75.55 and its two-hundred day moving average price is $70.06. The stock has a market cap of $10.77 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 0.96 and a beta of 1.38. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.93.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share for the quarter, beating analysts' consensus estimates of $2.00 by $0.08. The company had revenue of $644.13 million for the quarter, compared to analyst estimates of $636.77 million. East West Bancorp had a net margin of 26.78% and a return on equity of 17.43%. East West Bancorp's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the business earned $2.32 EPS. Analysts expect that East West Bancorp, Inc. will post 7.99 earnings per share for the current year.

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be issued a $0.55 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.84%. East West Bancorp's dividend payout ratio (DPR) is 27.71%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Stephens lifted their price objective on East West Bancorp from $85.00 to $86.00 and gave the stock an "overweight" rating in a report on Wednesday, April 24th. Barclays assumed coverage on shares of East West Bancorp in a research note on Friday, March 8th. They issued an "overweight" rating and a $106.00 price objective on the stock. Jefferies Financial Group lifted their target price on shares of East West Bancorp from $86.00 to $88.00 and gave the stock a "buy" rating in a research report on Monday, April 8th. Morgan Stanley increased their price target on shares of East West Bancorp from $76.00 to $89.00 and gave the company an "overweight" rating in a research report on Wednesday, February 7th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $90.00 target price on shares of East West Bancorp in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $84.08.

Insider Activity

In related news, insider Irene H. Oh sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total transaction of $775,800.00. Following the completion of the sale, the insider now owns 127,193 shares of the company's stock, valued at approximately $9,867,632.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Molly Campbell sold 1,625 shares of East West Bancorp stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total transaction of $125,547.50. Following the sale, the director now owns 10,321 shares in the company, valued at $797,400.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Irene H. Oh sold 10,000 shares of the firm's stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total transaction of $775,800.00. Following the sale, the insider now directly owns 127,193 shares of the company's stock, valued at $9,867,632.94. The disclosure for this sale can be found here. Insiders have sold 13,625 shares of company stock valued at $1,048,508 in the last three months. Corporate insiders own 1.04% of the company's stock.

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.