Fisher Asset Management LLC Increases Stake in East West Bancorp, Inc. $EWBC

Fisher Asset Management LLC grew its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 781,443 shares of the financial services provider’s stock after purchasing an additional 34,815 shares during the quarter. Fisher Asset Management LLC’s holdings in East West Bancorp were worth $87,826,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of EWBC. Clearstead Advisors LLC raised its position in shares of East West Bancorp by 48.6% in the fourth quarter. Clearstead Advisors LLC now owns 4,047 shares of the financial services provider’s stock valued at $455,000 after buying an additional 1,323 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of East West Bancorp in the fourth quarter worth about $1,733,000. Hantz Financial Services Inc. boosted its position in East West Bancorp by 47.1% during the fourth quarter. Hantz Financial Services Inc. now owns 2,649 shares of the financial services provider’s stock worth $298,000 after acquiring an additional 848 shares during the last quarter. Prospera Financial Services Inc boosted its position in East West Bancorp by 6.1% during the fourth quarter. Prospera Financial Services Inc now owns 5,567 shares of the financial services provider’s stock worth $626,000 after acquiring an additional 322 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. purchased a new stake in East West Bancorp during the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on EWBC shares. Truist Financial raised their target price on shares of East West Bancorp from $120.00 to $128.00 and gave the stock a “hold” rating in a research note on Thursday, April 23rd. TD Cowen upped their price target on East West Bancorp from $137.00 to $143.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $133.00 price target on shares of East West Bancorp in a report on Wednesday, April 22nd. Stephens lifted their price objective on East West Bancorp from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, January 26th. Finally, Barclays lowered their price objective on East West Bancorp from $150.00 to $142.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $133.69.

East West Bancorp Price Performance

EWBC stock opened at $123.12 on Tuesday. East West Bancorp, Inc. has a one year low of $88.26 and a one year high of $127.51. The firm has a market cap of $16.87 billion, a PE ratio of 12.30, a PEG ratio of 1.51 and a beta of 0.97. The firm’s 50 day moving average price is $115.70 and its 200-day moving average price is $113.46. 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 (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.11. The company had revenue of $773.75 million during the quarter, compared to analyst estimates of $767.80 million. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.08 earnings per share. On average, equities research analysts anticipate that East West Bancorp, Inc. will post 10.6 EPS for the current year.

East West Bancorp Dividend Announcement

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

Insider Transactions at East West Bancorp

In other East West Bancorp news, CEO Dominic Ng sold 30,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $123.49, for a total value of $3,704,700.00. Following the transaction, the chief executive officer owned 707,930 shares of the company’s stock, valued at $87,422,275.70. This represents a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Archana Deskus sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $125.55, for a total transaction of $225,990.00. Following the completion of the sale, the director directly owned 13,231 shares in the company, valued at $1,661,152.05. This trade represents a 11.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.94% of the stock is currently owned by company insiders.

East West Bancorp Company 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.