Quantinno Capital Management LP Has $2.62 Million Stock Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Quantinno Capital Management LP grew its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 40.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 27,357 shares of the financial services provider’s stock after acquiring an additional 7,837 shares during the period. Quantinno Capital Management LP’s holdings in East West Bancorp were worth $2,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Crossmark Global Holdings Inc. increased its position in East West Bancorp by 3.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 10,171 shares of the financial services provider’s stock worth $974,000 after buying an additional 336 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in East West Bancorp by 1,667.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 670,156 shares of the financial services provider’s stock valued at $64,174,000 after buying an additional 632,245 shares during the period. FORA Capital LLC bought a new stake in shares of East West Bancorp during the 4th quarter worth approximately $1,072,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of East West Bancorp by 18.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 100,320 shares of the financial services provider’s stock worth $9,699,000 after acquiring an additional 15,475 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of East West Bancorp by 10.0% during the 4th quarter. Fisher Asset Management LLC now owns 755,555 shares of the financial services provider’s stock worth $72,352,000 after acquiring an additional 68,528 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

East West Bancorp Stock Performance

Shares of NASDAQ EWBC opened at $94.34 on Wednesday. The stock has a market cap of $13.00 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 1.29 and a beta of 0.90. The stock’s 50-day moving average is $85.24 and its 200 day moving average is $94.55. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp, Inc. has a 1-year low of $68.27 and a 1-year high of $113.95.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. East West Bancorp had a return on equity of 15.71% and a net margin of 25.73%. The firm had revenue of $693.00 million for the quarter, compared to the consensus estimate of $673.02 million. On average, sell-side analysts anticipate that East West Bancorp, Inc. will post 8.85 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Friday, May 2nd. East West Bancorp’s payout ratio is 28.64%.

Analysts Set New Price Targets

EWBC has been the topic of a number of research analyst reports. DA Davidson reduced their price target on shares of East West Bancorp from $118.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Barclays raised their price objective on East West Bancorp from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Truist Financial started coverage on shares of East West Bancorp in a research report on Tuesday, May 13th. They issued a “hold” rating and a $102.00 price target for the company. Piper Sandler cut their price target on shares of East West Bancorp from $100.00 to $97.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Finally, Morgan Stanley downgraded East West Bancorp from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $118.00 to $90.00 in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $105.54.

Insiders Place Their Bets

In other news, EVP Lisa L. Kim sold 2,100 shares of East West Bancorp stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $95.04, for a total transaction of $199,584.00. Following the completion of the transaction, the executive vice president now directly owns 14,849 shares in the company, valued at approximately $1,411,248.96. This trade represents a 12.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dominic Ng sold 40,000 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.43, for a total value of $3,857,200.00. Following the completion of the sale, the chief executive officer now directly owns 928,314 shares in the company, valued at $89,517,319.02. This trade represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,281 shares of company stock worth $9,473,478. 1.04% of the stock is currently owned by company 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.