Graham Capital Management L.P. Raises Position in East West Bancorp, Inc. $EWBC

Graham Capital Management L.P. increased its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 105.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,895 shares of the financial services provider’s stock after acquiring an additional 15,843 shares during the quarter. Graham Capital Management L.P.’s holdings in East West Bancorp were worth $3,472,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Foster Dykema Cabot & Partners LLC acquired a new position in shares of East West Bancorp in the third quarter worth about $26,000. Atlantic Union Bankshares Corp acquired a new position in shares of East West Bancorp in the fourth quarter worth about $31,000. Kelleher Financial Advisors acquired a new position in shares of East West Bancorp in the third quarter worth about $31,000. Signaturefd LLC lifted its stake in shares of East West Bancorp by 115.0% in the fourth quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 184 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its stake in shares of East West Bancorp by 44.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 113 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

East West Bancorp Trading Down 0.5%

Shares of NASDAQ EWBC opened at $130.61 on Wednesday. The stock’s 50 day moving average price is $122.21 and its two-hundred day moving average price is $116.01. East West Bancorp, Inc. has a 52-week low of $90.79 and a 52-week high of $136.00. The stock has a market capitalization of $17.89 billion, a P/E ratio of 13.05, a PEG ratio of 1.61 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 announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $767.80 million. During the same quarter in the prior year, the firm posted $2.08 earnings per share. East West Bancorp’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, analysts anticipate that East West Bancorp, Inc. will post 10.6 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on EWBC. Cantor Fitzgerald reiterated an “overweight” rating and issued a $133.00 price target on shares of East West Bancorp in a research note on Wednesday, April 22nd. Truist Financial boosted their price target on East West Bancorp from $120.00 to $128.00 and gave the stock a “hold” rating in a research note on Thursday, April 23rd. UBS Group boosted their price target on East West Bancorp from $125.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Citigroup boosted their price target on East West Bancorp from $139.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Finally, TD Cowen boosted their price target on East West Bancorp from $137.00 to $143.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, East West Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $133.69.

Insider Transactions at East West Bancorp

In other East West Bancorp news, insider Irene H. Oh sold 800 shares of the company’s stock in a transaction that occurred on 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Dominic Ng sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $123.49, for a total value of $3,704,700.00. Following the sale, the chief executive officer owned 707,930 shares in the company, valued at $87,422,275.70. The trade was a 4.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 54,311 shares of company stock worth $6,784,711. 0.94% of the stock is owned by corporate insiders.

About East West Bancorp

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.