Access Investment Management LLC Makes New $9.20 Million Investment in East West Bancorp, Inc. (NASDAQ:EWBC)

Access Investment Management LLC acquired a new stake in 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 Securities and Exchange Commission. The fund acquired 127,920 shares of the financial services provider's stock, valued at approximately $9,204,000. East West Bancorp accounts for about 3.4% of Access Investment Management LLC's holdings, making the stock its 10th biggest position. Access Investment Management LLC owned 0.09% of East West Bancorp as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of East West Bancorp by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 15,243,818 shares of the financial services provider's stock valued at $803,502,000 after acquiring an additional 215,281 shares during the period. FMR LLC grew its holdings in East West Bancorp by 3.8% in the third quarter. FMR LLC now owns 8,416,534 shares of the financial services provider's stock valued at $443,635,000 after purchasing an additional 306,473 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of East West Bancorp by 3.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,463,757 shares of the financial services provider's stock valued at $129,865,000 after buying an additional 72,282 shares in the last quarter. Boston Partners raised its stake in shares of East West Bancorp by 36.4% during the 3rd 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. Finally, Invesco Ltd. raised its stake in shares of East West Bancorp by 19.8% during the 3rd quarter. Invesco Ltd. now owns 1,174,237 shares of the financial services provider's stock worth $61,894,000 after buying an additional 193,850 shares during the period. Hedge funds and other institutional investors own 89.53% of the company's stock.

East West Bancorp Trading Down 0.1 %

NASDAQ EWBC traded down $0.11 on Friday, reaching $77.20. 707,499 shares of the company were exchanged, compared to its average volume of 1,035,001. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. The business's fifty day moving average price is $75.74 and its 200 day moving average price is $70.40. The stock has a market capitalization of $10.74 billion, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 0.97 and a beta of 1.38. East West Bancorp, Inc. has a fifty-two week low of $42.60 and a fifty-two week high of $79.54.

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 the consensus estimate of $2.00 by $0.08. East West Bancorp had a net margin of 26.78% and a return on equity of 17.43%. The firm had revenue of $644.13 million for the quarter, compared to analysts' expectations of $636.77 million. During the same quarter in the previous year, the company posted $2.32 EPS. The company's revenue was down 2.4% compared to the same quarter last year. Analysts forecast that East West Bancorp, Inc. will post 8.01 earnings per share for the current year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.85%. East West Bancorp's dividend payout ratio is currently 27.71%.

Analyst Ratings Changes

EWBC has been the subject of several recent analyst reports. Piper Sandler boosted their price target on shares of East West Bancorp from $72.00 to $76.00 and gave the stock a "neutral" rating in a report on Wednesday, January 24th. Compass Point boosted their target price on shares of East West Bancorp from $83.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, March 13th. Morgan Stanley upped their price target on shares of East West Bancorp from $76.00 to $89.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 7th. 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. Finally, Keefe, Bruyette & Woods increased their target price on East West Bancorp from $82.00 to $85.00 and gave the company an "outperform" rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, East West Bancorp has an average rating of "Moderate Buy" and an average target price of $84.08.

Insider Activity

In other news, Director Molly Campbell sold 1,625 shares of the company's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total value of $125,547.50. Following the transaction, the director now owns 10,321 shares of the company's stock, valued at approximately $797,400.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Molly Campbell sold 1,625 shares of the business's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the sale, the director now directly owns 10,321 shares of the company's stock, valued at approximately $797,400.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack C. Liu sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total transaction of $147,160.00. Following the transaction, the director now directly owns 16,739 shares of the company's stock, valued at approximately $1,231,655.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,625 shares of company stock valued at $1,048,508. 1.04% of the stock is currently owned by company insiders.

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.