Endeavour Capital Advisors Inc. Cuts Position in East West Bancorp, Inc. $EWBC

Endeavour Capital Advisors Inc. cut its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 76.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,029 shares of the financial services provider’s stock after selling 12,912 shares during the quarter. Endeavour Capital Advisors Inc.’s holdings in East West Bancorp were worth $453,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in EWBC. Quarry LP raised its holdings in East West Bancorp by 35.4% during the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider’s stock valued at $42,000 after buying an additional 102 shares during the period. Quadrant Capital Group LLC lifted its holdings in East West Bancorp by 1.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 5,674 shares of the financial services provider’s stock valued at $604,000 after buying an additional 102 shares in the last quarter. Swiss Life Asset Management Ltd raised its holdings in shares of East West Bancorp by 1.7% in the 4th quarter. Swiss Life Asset Management Ltd now owns 6,404 shares of the financial services provider’s stock valued at $720,000 after purchasing an additional 104 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of East West Bancorp by 4.3% during the third quarter. EverSource Wealth Advisors LLC now owns 2,602 shares of the financial services provider’s stock valued at $277,000 after buying an additional 108 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its holdings in East West Bancorp by 44.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 113 shares in the last quarter. 89.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EWBC shares. Barclays decreased their price objective on East West Bancorp from $150.00 to $142.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. TD Cowen increased their price objective on shares of East West Bancorp from $137.00 to $143.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Morgan Stanley lowered their price target on East West Bancorp from $141.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. DA Davidson upped their price objective on shares of East West Bancorp from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Finally, Stephens raised their target price on East West Bancorp from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, January 26th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, East West Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $133.69.

Insiders Place Their Bets

In other East West Bancorp news, CEO Dominic Ng sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $123.49, for a total transaction of $3,704,700.00. Following the sale, the chief executive officer owned 707,930 shares of the company’s stock, valued at approximately $87,422,275.70. This trade represents a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Archana Deskus sold 1,800 shares of East West Bancorp stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $125.55, for a total transaction of $225,990.00. Following the sale, the director owned 13,231 shares in the company, valued at $1,661,152.05. This represents a 11.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.94% of the company’s stock.

East West Bancorp Price Performance

Shares of EWBC opened at $123.12 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. East West Bancorp, Inc. has a 1 year low of $88.26 and a 1 year high of $127.51. The stock has a market capitalization of $16.87 billion, a PE ratio of 12.30, a P/E/G ratio of 1.51 and a beta of 0.97. The company’s 50-day simple moving average is $115.70 and its 200-day simple moving average is $113.46.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.57 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $767.80 million. During the same quarter in the previous year, the firm posted $2.08 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. Analysts forecast that East West Bancorp, Inc. will post 10.6 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 4th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, May 4th. East West Bancorp’s payout ratio is 31.97%.

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.