Midway Capital Research & Management Invests $4.39 Million in East West Bancorp, Inc. $EWBC

Midway Capital Research & Management purchased a new position in East West Bancorp, Inc. (NASDAQ:EWBC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 39,039 shares of the financial services provider’s stock, valued at approximately $4,388,000. East West Bancorp comprises about 4.3% of Midway Capital Research & Management’s holdings, making the stock its 7th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of East West Bancorp by 84,090.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider’s stock worth $596,967,000 after purchasing an additional 5,305,257 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of East West Bancorp by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,981,065 shares of the financial services provider’s stock valued at $559,822,000 after buying an additional 106,998 shares during the last quarter. First Trust Advisors LP raised its stake in East West Bancorp by 7.1% during the 4th quarter. First Trust Advisors LP now owns 4,620,772 shares of the financial services provider’s stock valued at $519,329,000 after acquiring an additional 306,916 shares in the last quarter. Boston Partners lifted its holdings in East West Bancorp by 19.6% in the third quarter. Boston Partners now owns 3,874,737 shares of the financial services provider’s stock worth $412,464,000 after purchasing an additional 633,649 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in shares of East West Bancorp by 9.4% in the fourth quarter. Schroder Investment Management Group now owns 3,713,679 shares of the financial services provider’s stock valued at $423,619,000 after acquiring an additional 318,303 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

East West Bancorp Stock Performance

NASDAQ:EWBC opened at $126.84 on Friday. East West Bancorp, Inc. has a 12-month low of $92.67 and a 12-month high of $136.00. The firm has a market capitalization of $17.38 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 1.55 and a beta of 0.94. The firm has a 50-day moving average price of $123.12 and a 200 day moving average price of $116.37. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.11. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. The business had revenue of $773.75 million during the quarter, compared to analysts’ expectations of $767.80 million. During the same quarter last year, the company posted $2.08 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Research analysts anticipate that East West Bancorp, Inc. will post 10.6 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 4th were paid a $0.80 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. East West Bancorp’s payout ratio is currently 31.97%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EWBC. Barclays cut their price target on shares of East West Bancorp from $150.00 to $142.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $133.00 target price on shares of East West Bancorp in a research report on Wednesday, April 22nd. Piper Sandler raised their price target on shares of East West Bancorp from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Truist Financial boosted their target price on East West Bancorp from $120.00 to $128.00 and gave the company a “hold” rating in a research note on Thursday, April 23rd. Finally, Citigroup boosted their target price on shares of East West Bancorp from $139.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.69.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Archana Deskus sold 1,800 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $125.55, for a total transaction of $225,990.00. Following the transaction, the director owned 13,231 shares in the company, valued at approximately $1,661,152.05. This trade represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of East West Bancorp stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $123.50, for a total transaction of $1,235,000.00. Following the transaction, the insider directly owned 46,974 shares in the company, valued at approximately $5,801,289. This represents a 17.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 54,311 shares of company stock worth $6,784,711 in the last quarter. 0.94% of the stock is owned by corporate insiders.

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.