East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by Teza Capital Management LLC

Teza Capital Management LLC cut its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC – Get Rating) by 54.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,369 shares of the financial services provider’s stock after selling 3,984 shares during the quarter. Teza Capital Management LLC’s holdings in East West Bancorp were worth $226,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings in East West Bancorp by 167.0% in the 2nd quarter. Renaissance Technologies LLC now owns 237,733 shares of the financial services provider’s stock valued at $15,405,000 after purchasing an additional 148,700 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. boosted its holdings in East West Bancorp by 14.5% in the 2nd quarter. Elizabeth Park Capital Advisors Ltd. now owns 78,823 shares of the financial services provider’s stock valued at $5,108,000 after purchasing an additional 10,000 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in East West Bancorp by 360.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 43,700 shares of the financial services provider’s stock valued at $2,934,000 after purchasing an additional 34,200 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in East West Bancorp by 43.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 12,704 shares of the financial services provider’s stock valued at $853,000 after purchasing an additional 3,818 shares during the last quarter. Finally, Maltese Capital Management LLC boosted its holdings in East West Bancorp by 25.6% in the 2nd quarter. Maltese Capital Management LLC now owns 100,000 shares of the financial services provider’s stock valued at $6,479,000 after purchasing an additional 20,400 shares during the last quarter. 88.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $77.00, for a total transaction of $154,000.00. Following the sale, the director now directly owns 17,136 shares of the company’s stock, valued at approximately $1,319,472. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $77.00, for a total value of $154,000.00. Following the sale, the director now directly owns 17,136 shares of the company’s stock, valued at approximately $1,319,472. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Irene H. Oh acquired 10,000 shares of the company’s stock in a transaction on Monday, March 13th. The stock was purchased at an average cost of $49.51 per share, for a total transaction of $495,100.00. Following the completion of the transaction, the chief financial officer now owns 124,925 shares in the company, valued at approximately $6,185,036.75. The disclosure for this purchase can be found here. 0.80% of the stock is owned by insiders.

East West Bancorp Price Performance

East West Bancorp stock opened at $51.82 on Tuesday. The company’s 50 day simple moving average is $72.83 and its 200-day simple moving average is $70.52. The company has a market capitalization of $7.31 billion, a price-to-earnings ratio of 6.54, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. East West Bancorp, Inc. has a 1 year low of $33.86 and a 1 year 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 announced its earnings results 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 firm had revenue of $826.14 million for the quarter, compared to the consensus estimate of $654.24 million. During the same period in the prior year, the firm earned $1.52 EPS. As a group, equities research analysts expect that East West Bancorp, Inc. will post 9.11 earnings per share for the current year.

East West Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 21st. Investors of record on Monday, February 6th were paid a dividend of $0.48 per share. This is an increase from East West Bancorp’s previous quarterly dividend of $0.40. This represents a $1.92 annualized dividend and a yield of 3.71%. The ex-dividend date was Friday, February 3rd. East West Bancorp’s dividend payout ratio is presently 24.24%.

Analysts Set New Price Targets

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

East West Bancorp Company 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.