Cubist Systematic Strategies LLC Has $3.66 Million Stock Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Cubist Systematic Strategies LLC raised its stake in East West Bancorp, Inc. (NASDAQ:EWBC – Get Rating) by 56.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,463 shares of the financial services provider’s stock after purchasing an additional 19,731 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in East West Bancorp were worth $3,657,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Verition Fund Management LLC acquired a new position in East West Bancorp during the third quarter worth $1,374,000. Boothbay Fund Management LLC bought a new stake in shares of East West Bancorp in the 3rd quarter valued at about $4,045,000. Ergoteles LLC acquired a new stake in East West Bancorp in the 3rd quarter valued at about $2,810,000. Canada Pension Plan Investment Board grew its holdings in East West Bancorp by 360.0% during the third quarter. Canada Pension Plan Investment Board now owns 43,700 shares of the financial services provider’s stock worth $2,934,000 after purchasing an additional 34,200 shares during the period. Finally, AXA S.A. raised its stake in East West Bancorp by 33.3% in the third quarter. AXA S.A. now owns 119,600 shares of the financial services provider’s stock valued at $8,030,000 after buying an additional 29,900 shares during the period. Institutional investors and hedge funds own 88.68% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $77.00, for a total transaction of $154,000.00. Following the completion of the sale, the director now directly owns 17,136 shares in the company, valued at approximately $1,319,472. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company’s stock.

East West Bancorp Stock Up 1.2 %

EWBC opened at $75.25 on Monday. The stock has a fifty day moving average of $72.64 and a 200-day moving average of $70.88. The company has a market capitalization of $10.61 billion, a P/E ratio of 9.50, a P/E/G ratio of 0.83 and a beta of 1.45. East West Bancorp, Inc. has a fifty-two week low of $61.65 and a fifty-two week high of $85.32. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 0.90.

East West Bancorp (NASDAQ:EWBC – Get Rating) last issued its quarterly earnings data on Thursday, January 26th. The financial services provider reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.15. East West Bancorp had a net margin of 43.06% and a return on equity of 19.66%. The business had revenue of $826.14 million during the quarter, compared to analysts’ expectations of $654.24 million. During the same quarter in the previous year, the company earned $1.52 EPS. On average, equities analysts expect that East West Bancorp, Inc. will post 9.11 EPS for the current year.

East West Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 21st. Investors of record on Monday, February 6th were given a dividend of $0.48 per share. The ex-dividend date was Friday, February 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 2.55%. This is an increase from East West Bancorp’s previous quarterly dividend of $0.40. East West Bancorp’s dividend payout ratio is currently 24.24%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EWBC shares. Morgan Stanley lifted their target price on East West Bancorp from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Friday, January 27th. Wells Fargo & Company decreased their price objective on shares of East West Bancorp from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, December 15th. Finally, Truist Financial lifted their target price on shares of East West Bancorp from $77.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, January 27th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $82.00.

East West Bancorp Profile

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East West Bancorp, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following business segments: Consumer and Business Banking, Commercial Banking, and Other. The Consumer and Business Banking segment provides financial service products and services to consumer and commercial customers through the company’s branch network in the U.S.