Access Investment Management LLC Makes New $9.20 Million Investment in East West Bancorp, Inc. (NASDAQ:EWBC)

Access Investment Management LLC acquired a new stake in East West Bancorp, Inc. (NASDAQ:EWBCFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 127,920 shares of the financial services provider’s stock, valued at approximately $9,204,000. East West Bancorp makes up 3.4% of Access Investment Management LLC’s holdings, making the stock its 10th biggest holding. Access Investment Management LLC owned 0.09% of East West Bancorp as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Versor Investments LP purchased a new position in East West Bancorp in the 4th quarter valued at about $770,000. MeadowBrook Investment Advisors LLC acquired a new position in shares of East West Bancorp during the fourth quarter valued at approximately $532,000. Measured Wealth Private Client Group LLC purchased a new position in shares of East West Bancorp in the fourth quarter valued at approximately $260,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of East West Bancorp by 10.5% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,457 shares of the financial services provider’s stock worth $177,000 after acquiring an additional 234 shares during the last quarter. Finally, Amalgamated Bank increased its position in shares of East West Bancorp by 5.1% during the fourth quarter. Amalgamated Bank now owns 94,497 shares of the financial services provider’s stock worth $6,799,000 after purchasing an additional 4,618 shares in the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at East West Bancorp

In other news, insider Irene H. Oh sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total value of $775,800.00. Following the completion of the transaction, the insider now owns 127,193 shares of the company’s stock, valued at $9,867,632.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.58, for a total value of $147,160.00. Following the sale, the director now owns 16,739 shares of the company’s stock, valued at approximately $1,231,655.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Irene H. Oh sold 10,000 shares of East West Bancorp stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total value of $775,800.00. Following the completion of the transaction, the insider now owns 127,193 shares of the company’s stock, valued at approximately $9,867,632.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,625 shares of company stock worth $1,048,508. 1.04% of the stock is currently owned by company insiders.

East West Bancorp Trading Down 0.1 %

Shares of NASDAQ EWBC traded down $0.11 during mid-day trading on Friday, reaching $77.20. 707,499 shares of the company’s stock were exchanged, compared to its average volume of 1,035,001. The firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 0.97 and a beta of 1.38. East West Bancorp, Inc. has a 52-week low of $42.60 and a 52-week high of $79.54. The company’s 50-day moving average is $75.74 and its 200-day moving average is $70.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.93.

East West Bancorp (NASDAQ:EWBCGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. The business had revenue of $644.13 million during the quarter, compared to analysts’ expectations of $636.77 million. East West Bancorp had a net margin of 26.78% and a return on equity of 17.43%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the business earned $2.32 earnings per share. Analysts expect that East West Bancorp, Inc. will post 8.01 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be paid a $0.55 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.85%. East West Bancorp’s payout ratio is presently 27.71%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EWBC. Barclays began coverage on shares of East West Bancorp in a research note on Friday, March 8th. They set an “overweight” rating and a $106.00 target price on the stock. Stephens upped their price objective on shares of East West Bancorp from $85.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Citigroup raised their target price on shares of East West Bancorp from $85.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Morgan Stanley upped their price target on East West Bancorp from $76.00 to $89.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Finally, Wedbush reiterated an “outperform” rating and set a $90.00 price objective on shares of East West Bancorp in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.08.

Check Out Our Latest Stock Analysis on EWBC

East West Bancorp Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding EWBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for East West Bancorp, Inc. (NASDAQ:EWBCFree Report).

Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.