Sterling Capital Management LLC Sells 4,123 Shares of East West Bancorp, Inc. $EWBC

Sterling Capital Management LLC lessened its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 24.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,013 shares of the financial services provider’s stock after selling 4,123 shares during the period. Sterling Capital Management LLC’s holdings in East West Bancorp were worth $1,389,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in EWBC. Quarry LP lifted 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 purchasing an additional 102 shares during the last quarter. Quadrant Capital Group LLC grew its stake in East West Bancorp by 1.8% during the third quarter. Quadrant Capital Group LLC now owns 5,674 shares of the financial services provider’s stock worth $604,000 after buying an additional 102 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its holdings in shares of East West Bancorp by 1.1% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 9,195 shares of the financial services provider’s stock worth $1,033,000 after buying an additional 102 shares in the last quarter. Swiss Life Asset Management Ltd increased its holdings in shares of East West Bancorp by 1.7% during the fourth quarter. Swiss Life Asset Management Ltd now owns 6,404 shares of the financial services provider’s stock worth $720,000 after buying an additional 104 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of East West Bancorp by 4.3% in the third quarter. EverSource Wealth Advisors LLC now owns 2,602 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 89.53% of the company’s stock.

East West Bancorp Trading Down 0.3%

Shares of EWBC opened at $129.09 on Tuesday. The stock’s fifty day simple moving average is $124.70 and its 200-day simple moving average is $117.31. The firm has a market capitalization of $17.69 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.57 and a beta of 0.94. East West Bancorp, Inc. has a 12-month low of $92.67 and a 12-month high of $136.00. 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 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 firm had revenue of $773.75 million during the quarter, compared to analysts’ expectations of $767.80 million. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.08 EPS. As a group, research analysts predict that East West Bancorp, Inc. will post 10.59 earnings per share for the current year.

East West Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 4th were given a dividend of $0.80 per share. The ex-dividend date was Monday, May 4th. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. East West Bancorp’s payout ratio is currently 31.97%.

Insider Buying and Selling at East West Bancorp

In related news, insider Irene H. Oh sold 800 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $133.19, for a total transaction of $106,552.00. Following the completion of the sale, the insider directly owned 84,698 shares of the company’s stock, valued at $11,280,926.62. The trade was a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Dominic Ng sold 30,000 shares of the 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 completion of the transaction, the chief executive officer owned 707,930 shares in the company, valued at $87,422,275.70. This represents a 4.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 54,311 shares of company stock worth $6,784,711 in the last 90 days. Corporate insiders own 0.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. TD Cowen boosted their target price on East West Bancorp from $137.00 to $143.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Citigroup lifted their price objective on East West Bancorp from $145.00 to $154.00 and gave the company a “buy” rating in a research report on Thursday. DA Davidson boosted their price objective on East West Bancorp from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $133.00 price objective on shares of East West Bancorp in a research note on Wednesday, April 22nd. Finally, UBS Group increased their target price on East West Bancorp from $125.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.62.

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.