SFE Investment Counsel Sells 1,200 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

SFE Investment Counsel cut its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 10.4% during the fourth quarter, HoldingsChannel reports. The firm owned 10,345 shares of the financial services provider’s stock after selling 1,200 shares during the period. SFE Investment Counsel’s holdings in East West Bancorp were worth $744,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. American Century Companies Inc. grew its holdings in East West Bancorp by 17.4% during the 1st quarter. American Century Companies Inc. now owns 21,819 shares of the financial services provider’s stock worth $1,725,000 after acquiring an additional 3,228 shares in the last quarter. Natixis Advisors L.P. bought a new position in East West Bancorp during the 1st quarter worth about $836,000. Great West Life Assurance Co. Can grew its holdings in East West Bancorp by 8.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 77,662 shares of the financial services provider’s stock worth $6,308,000 after acquiring an additional 5,821 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in East West Bancorp by 221.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,600 shares of the financial services provider’s stock worth $205,000 after acquiring an additional 1,790 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in East West Bancorp by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 13,803,992 shares of the financial services provider’s stock worth $1,090,792,000 after acquiring an additional 86,848 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp Stock Performance

Shares of East West Bancorp stock traded up $0.44 during midday trading on Thursday, hitting $72.00. The company had a trading volume of 432,632 shares, compared to its average volume of 1,206,758. The stock has a market cap of $10.02 billion, a price-to-earnings ratio of 8.75, a PEG ratio of 0.91 and a beta of 1.39. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $74.29 and a 200 day simple moving average of $67.52. East West Bancorp, Inc. has a 12-month low of $41.12 and a 12-month high of $79.54.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. The firm had revenue of $654.70 million during the quarter, compared to analyst estimates of $641.91 million. East West Bancorp had a net margin of 29.11% and a return on equity of 18.47%. East West Bancorp’s revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm posted $2.37 EPS. As a group, analysts predict that East West Bancorp, Inc. will post 7.87 earnings per share for the current fiscal year.

East West Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Friday, February 2nd were given a $0.55 dividend. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.48. This represents a $2.20 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Thursday, February 1st. East West Bancorp’s dividend payout ratio (DPR) is presently 26.89%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EWBC. Compass Point increased their target price on shares of East West Bancorp from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Truist Financial increased their target price on shares of East West Bancorp from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Jefferies Financial Group increased their target price on shares of East West Bancorp from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Morgan Stanley increased their price target on shares of East West Bancorp from $76.00 to $89.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Finally, Piper Sandler increased their price target on shares of East West Bancorp from $72.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.15.

Insider Activity at East West Bancorp

In related news, Director Molly Campbell sold 1,625 shares of East West Bancorp stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the sale, the director now owns 10,321 shares of the company’s stock, valued at approximately $797,400.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.58, for a total value of $147,160.00. Following the sale, the director now owns 16,739 shares of the company’s stock, valued at approximately $1,231,655.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Molly Campbell sold 1,625 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the transaction, the director now owns 10,321 shares in the company, valued at approximately $797,400.46. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by insiders.

East West Bancorp Company Profile

East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.