9,292 Shares in East West Bancorp, Inc. $EWBC Bought by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC purchased a new position in East West Bancorp, Inc. (NASDAQ:EWBC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,292 shares of the financial services provider’s stock, valued at approximately $1,044,000.

Several other large investors also recently bought and sold shares of EWBC. Foster Dykema Cabot & Partners LLC bought a new stake in East West Bancorp in the third quarter worth $26,000. Atlantic Union Bankshares Corp bought a new stake in East West Bancorp in the fourth quarter worth $31,000. Kelleher Financial Advisors bought a new stake in East West Bancorp in the third quarter worth $31,000. Wilmington Savings Fund Society FSB increased its position in 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 purchasing an additional 113 shares during the last quarter. Finally, Signaturefd LLC increased its position in 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 purchasing an additional 184 shares during the last quarter. Institutional investors own 89.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on EWBC shares. Keefe, Bruyette & Woods boosted their price target on shares of East West Bancorp from $131.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Citigroup lifted their price objective on shares of East West Bancorp from $139.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Morgan Stanley dropped their price objective on shares of East West Bancorp from $141.00 to $128.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Truist Financial lifted their price objective on shares of East West Bancorp from $120.00 to $128.00 and gave the stock a “hold” rating in a research note on Thursday, April 23rd. Finally, Stephens lifted their price objective on shares of East West Bancorp from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, January 26th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $133.69.

Insiders Place Their Bets

In other news, Director Archana Deskus sold 1,800 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $125.55, for a total transaction of $225,990.00. Following the completion of the sale, the director directly owned 13,231 shares of the company’s stock, valued at approximately $1,661,152.05. The trade was a 11.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dominic Ng sold 30,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $123.49, for a total transaction of $3,704,700.00. Following the sale, the chief executive officer directly owned 707,930 shares of the company’s stock, valued at $87,422,275.70. This represents a 4.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.94% of the stock is currently owned by insiders.

East West Bancorp Stock Up 1.9%

NASDAQ EWBC opened at $123.29 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average of $114.70 and a two-hundred day moving average of $112.99. The firm has a market capitalization of $16.89 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.48 and a beta of 0.97. East West Bancorp, Inc. has a 52 week low of $88.26 and a 52 week high of $127.51.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.11. The firm had revenue of $773.75 million during the quarter, compared to analyst estimates of $767.80 million. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.08 earnings per share. On average, analysts predict that East West Bancorp, Inc. will post 10.6 earnings per share for the current year.

East West Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 4th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, May 4th. East West Bancorp’s payout ratio is currently 31.97%.

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.