Interval Partners LP Buys 81,605 Shares of East West Bancorp, Inc. $EWBC

Interval Partners LP boosted its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 143.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,611 shares of the financial services provider’s stock after purchasing an additional 81,605 shares during the period. Interval Partners LP’s holdings in East West Bancorp were worth $15,578,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its stake in East West Bancorp by 3.4% in the 4th quarter. Janus Henderson Group PLC now owns 61,513 shares of the financial services provider’s stock valued at $6,913,000 after purchasing an additional 2,005 shares during the last quarter. Evolve Private Wealth LLC bought a new position in East West Bancorp in the 4th quarter valued at approximately $414,000. Expect Equity LLC bought a new position in East West Bancorp in the 4th quarter valued at approximately $1,926,000. Cinctive Capital Management LP bought a new position in shares of East West Bancorp during the fourth quarter valued at $4,067,000. Finally, Asset One Wealth Management LLC bought a new position in shares of East West Bancorp during the fourth quarter valued at $3,388,000. Institutional investors own 89.53% of the company’s stock.

Insiders Place Their Bets

In related news, insider Irene H. Oh sold 800 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $133.19, for a total transaction of $106,552.00. Following the sale, the insider owned 84,698 shares in the company, valued at $11,280,926.62. This represents a 0.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Archana Deskus sold 1,800 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $125.55, for a total value of $225,990.00. Following the sale, the director owned 13,231 shares in the company, valued at approximately $1,661,152.05. The trade was a 11.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,311 shares of company stock worth $6,784,711 in the last quarter. 0.94% of the stock is currently owned by company insiders.

East West Bancorp Price Performance

Shares of NASDAQ EWBC opened at $127.26 on Thursday. East West Bancorp, Inc. has a twelve month low of $91.36 and a twelve month high of $136.00. The firm has a fifty day simple moving average of $122.55 and a 200 day simple moving average of $116.16. The company has a market capitalization of $17.43 billion, a PE ratio of 12.71, a P/E/G ratio of 1.60 and a beta of 0.94. 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 posted 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. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The firm had revenue of $773.75 million during the quarter, compared to analyst estimates of $767.80 million. During the same period last year, the company posted $2.08 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. On average, sell-side analysts forecast that East West Bancorp, Inc. will post 10.6 EPS for the current year.

East West Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 18th. Investors 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 dividend payout ratio is presently 31.97%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EWBC shares. TD Cowen raised their price target on shares of East West Bancorp from $137.00 to $143.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Citigroup raised their price target on shares of East West Bancorp from $139.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Morgan Stanley dropped their price target on shares of East West Bancorp from $141.00 to $128.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. UBS Group raised their price target on shares of East West Bancorp from $125.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Finally, Barclays dropped 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 research note on Tuesday, April 7th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.69.

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.