East West Bancorp, Inc. (NASDAQ:EWBC) Short Interest Down 15.6% in January

East West Bancorp, Inc. (NASDAQ:EWBC) was the target of a large decline in short interest in January. As of January 15th, there was short interest totaling 3,273,103 shares, a decline of 15.6% from the December 31st total of 3,875,801 shares. Approximately 2.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 770,590 shares, the days-to-cover ratio is presently 4.2 days. Based on an average daily trading volume, of 770,590 shares, the days-to-cover ratio is presently 4.2 days. Approximately 2.4% of the shares of the stock are sold short.

East West Bancorp Trading Up 0.0%

Shares of EWBC stock opened at $114.44 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34. East West Bancorp has a 12-month low of $68.27 and a 12-month high of $119.73. The stock has a market capitalization of $15.75 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.49 and a beta of 0.92. The firm’s 50 day moving average is $113.14 and its 200 day moving average is $107.09.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.04. East West Bancorp had a net margin of 28.36% and a return on equity of 15.72%. The firm had revenue of $754.92 million for the quarter, compared to analysts’ expectations of $745.04 million. During the same quarter in the prior year, the business earned $2.10 EPS. Research analysts expect that East West Bancorp will post 8.85 earnings per share for the current year.

East West Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd will be issued a dividend of $0.80 per share. This is a boost from East West Bancorp’s previous quarterly dividend of $0.60. This represents a $3.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, February 2nd. East West Bancorp’s payout ratio is 25.21%.

Analyst Upgrades and Downgrades

EWBC has been the topic of several research reports. Stephens raised their price objective on shares of East West Bancorp from $120.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, January 26th. TD Cowen decreased their price target on East West Bancorp from $141.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of East West Bancorp in a research note on Tuesday, December 16th. They set a “buy” rating and a $133.00 price objective for the company. Piper Sandler raised their price target on East West Bancorp from $111.00 to $116.00 and gave the stock a “neutral” rating in a research note on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of East West Bancorp in a research report on Monday, December 29th. Ten equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, East West Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $128.21.

Insider Buying and Selling

In related news, COO Parker Shi sold 8,844 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $115.03, for a total value of $1,017,325.32. Following the sale, the chief operating officer owned 14,950 shares in the company, valued at approximately $1,719,698.50. This trade represents a 37.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Molly Campbell sold 1,520 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $104.73, for a total value of $159,189.60. Following the completion of the sale, the director directly owned 7,556 shares in the company, valued at approximately $791,339.88. The trade was a 16.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 62,364 shares of company stock valued at $7,084,827. Corporate insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

A number of hedge funds have recently bought and sold shares of EWBC. Geneos Wealth Management Inc. raised its stake in shares of East West Bancorp by 66.9% in the first quarter. Geneos Wealth Management Inc. now owns 801 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 321 shares during the period. Sivia Capital Partners LLC bought a new position in East West Bancorp in the 2nd quarter worth about $274,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in East West Bancorp by 11.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 125,415 shares of the financial services provider’s stock worth $12,664,000 after purchasing an additional 12,444 shares during the period. QRG Capital Management Inc. increased its stake in shares of East West Bancorp by 5.8% during the second quarter. QRG Capital Management Inc. now owns 2,722 shares of the financial services provider’s stock valued at $275,000 after buying an additional 150 shares during the period. Finally, Chung Wu Investment Group LLC purchased a new position in East West Bancorp during the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

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.