Schroder Investment Management Group Buys 334,429 Shares of East West Bancorp, Inc. $EWBC

Schroder Investment Management Group grew its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 10.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,395,376 shares of the financial services provider’s stock after purchasing an additional 334,429 shares during the quarter. Schroder Investment Management Group owned approximately 2.46% of East West Bancorp worth $361,879,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. New York State Common Retirement Fund lifted its position in East West Bancorp by 145.5% during the 3rd quarter. New York State Common Retirement Fund now owns 163,279 shares of the financial services provider’s stock worth $17,381,000 after acquiring an additional 96,760 shares during the last quarter. Assetmark Inc. grew its position in shares of East West Bancorp by 3,842.9% in the third quarter. Assetmark Inc. now owns 14,786 shares of the financial services provider’s stock valued at $1,574,000 after purchasing an additional 14,411 shares during the last quarter. AlphaQuest LLC increased its stake in shares of East West Bancorp by 156.5% in the third quarter. AlphaQuest LLC now owns 37,905 shares of the financial services provider’s stock worth $4,035,000 after purchasing an additional 23,125 shares during the period. Creative Planning lifted its position in shares of East West Bancorp by 21.2% during the 2nd quarter. Creative Planning now owns 24,812 shares of the financial services provider’s stock worth $2,505,000 after purchasing an additional 4,344 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of East West Bancorp by 2,084.8% during the 3rd quarter. SG Americas Securities LLC now owns 53,221 shares of the financial services provider’s stock worth $5,665,000 after purchasing an additional 50,785 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Stock Performance

EWBC opened at $106.32 on Monday. The stock’s 50 day simple moving average is $115.54 and its 200-day simple moving average is $109.51. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34. The stock has a market cap of $14.63 billion, a PE ratio of 11.17, a P/E/G ratio of 1.38 and a beta of 0.90. East West Bancorp, Inc. has a 1 year low of $68.27 and a 1 year high of $123.82.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $2.52 EPS for the quarter, topping the consensus estimate of $2.48 by $0.04. The firm had revenue of $753.79 million during the quarter, compared to analysts’ expectations of $745.04 million. East West Bancorp had a return on equity of 15.72% and a net margin of 28.36%.During the same period last year, the business earned $2.10 earnings per share. Sell-side analysts forecast that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were given a dividend of $0.80 per share. This is an increase from East West Bancorp’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, February 2nd. This represents a $3.20 annualized dividend and a dividend yield of 3.0%. East West Bancorp’s dividend payout ratio (DPR) is presently 33.61%.

Analyst Ratings Changes

A number of research firms have issued reports on EWBC. Piper Sandler raised their target price on East West Bancorp from $111.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, January 26th. Deutsche Bank Aktiengesellschaft assumed coverage on East West Bancorp in a research report on Tuesday, December 16th. They issued a “buy” rating and a $133.00 price objective for the company. TD Cowen dropped their target price on shares of East West Bancorp from $141.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Truist Financial set a $121.00 target price on shares of East West Bancorp in a research note on Friday, January 23rd. Finally, Stephens increased their price target on shares of East West Bancorp from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, January 26th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, East West Bancorp has an average rating of “Moderate Buy” and a consensus target price of $129.21.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, Director Jack C. Liu sold 1,421 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $119.00, for a total transaction of $169,099.00. Following the completion of the transaction, the director owned 13,553 shares in the company, valued at $1,612,807. This trade represents a 9.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gary Teo sold 7,000 shares of East West Bancorp stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $122.59, for a total value of $858,130.00. Following the sale, the executive vice president directly owned 5,252 shares in the company, valued at $643,842.68. The trade was a 57.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 119,065 shares of company stock worth $13,857,314 in the last 90 days. 1.04% of the stock is currently owned by insiders.

East West Bancorp Profile

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.