6,183 Shares in East West Bancorp, Inc. $EWBC Bought by Fox Run Management L.L.C.

Fox Run Management L.L.C. purchased a new stake in East West Bancorp, Inc. (NASDAQ:EWBC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,183 shares of the financial services provider’s stock, valued at approximately $658,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Invesco Ltd. raised its holdings in shares of East West Bancorp by 38.5% in the 2nd quarter. Invesco Ltd. now owns 10,683,377 shares of the financial services provider’s stock valued at $1,078,807,000 after purchasing an additional 2,968,716 shares during the period. Norges Bank acquired a new position in East West Bancorp during the second quarter worth approximately $174,431,000. Boston Partners raised its stake in East West Bancorp by 39.6% in the second quarter. Boston Partners now owns 3,241,088 shares of the financial services provider’s stock valued at $327,271,000 after buying an additional 920,159 shares during the period. Sei Investments Co. raised its stake in East West Bancorp by 448.5% in the second quarter. Sei Investments Co. now owns 840,371 shares of the financial services provider’s stock valued at $84,861,000 after buying an additional 687,145 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of East West Bancorp by 61.9% in the second quarter. AQR Capital Management LLC now owns 1,418,174 shares of the financial services provider’s stock valued at $143,207,000 after buying an additional 542,149 shares during the last quarter. Institutional investors own 89.53% of the company’s stock.

Analyst Ratings Changes

EWBC has been the topic of a number of research analyst reports. Zacks Research cut East West Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 24th. Stephens upped their price objective on shares of East West Bancorp from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, January 26th. Keefe, Bruyette & Woods increased their price objective on shares of East West Bancorp from $131.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of East West Bancorp in a research note on Tuesday, December 16th. They set a “buy” rating and a $133.00 target price for the company. Finally, Truist Financial set a $121.00 target price on shares of East West Bancorp in a report on Friday, January 23rd. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, East West Bancorp currently has an average rating of “Moderate Buy” and an average target price of $128.14.

Insiders Place Their Bets

In related news, EVP Gary Teo sold 7,000 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $122.59, for a total transaction of $858,130.00. Following the sale, the executive vice president owned 5,252 shares of the company’s stock, valued at $643,842.68. This represents a 57.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dominic Ng sold 50,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $117.82, for a total value of $5,891,000.00. Following the transaction, the chief executive officer owned 808,331 shares in the company, valued at approximately $95,237,558.42. This trade represents a 5.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 119,065 shares of company stock valued at $13,857,314 in the last quarter. Company insiders own 1.04% of the company’s stock.

East West Bancorp Trading Down 6.1%

Shares of East West Bancorp stock opened at $109.45 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a 50-day moving average of $116.11 and a 200-day moving average of $109.13. East West Bancorp, Inc. has a 52-week low of $68.27 and a 52-week high of $123.82. The stock has a market cap of $15.06 billion, a PE ratio of 11.50, a PEG ratio of 1.51 and a beta of 0.92.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.04. The business had revenue of $753.79 million for the quarter, compared to analyst estimates of $745.04 million. East West Bancorp had a net margin of 28.36% and a return on equity of 15.72%. During the same period last year, the firm earned $2.10 earnings per share. As a group, sell-side analysts forecast that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were given a $0.80 dividend. The ex-dividend date was Monday, February 2nd. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.60. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.9%. East West Bancorp’s dividend payout ratio (DPR) is presently 33.61%.

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.