Midway Capital Research & Management Makes New $4.39 Million Investment in East West Bancorp, Inc. $EWBC

Midway Capital Research & Management acquired a new stake in East West Bancorp, Inc. (NASDAQ:EWBC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 39,039 shares of the financial services provider’s stock, valued at approximately $4,388,000. East West Bancorp comprises about 4.3% of Midway Capital Research & Management’s portfolio, making the stock its 7th largest position.

A number of other hedge funds have also recently modified their holdings of EWBC. Quarry LP grew its position in shares of East West Bancorp by 35.4% during the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 102 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of East West Bancorp by 1.8% in the third quarter. Quadrant Capital Group LLC now owns 5,674 shares of the financial services provider’s stock worth $604,000 after acquiring an additional 102 shares during the last quarter. Bradley Foster & Sargent Inc. CT boosted its stake in East West Bancorp by 1.1% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 9,195 shares of the financial services provider’s stock worth $1,033,000 after purchasing an additional 102 shares during the last quarter. Swiss Life Asset Management Ltd grew its stake in East West Bancorp by 1.7% during the 4th quarter. Swiss Life Asset Management Ltd now owns 6,404 shares of the financial services provider’s stock valued at $720,000 after acquiring an additional 104 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of East West Bancorp by 4.3% in the third quarter. EverSource Wealth Advisors LLC now owns 2,602 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Trading Up 0.0%

Shares of East West Bancorp stock opened at $126.84 on Friday. East West Bancorp, Inc. has a 1 year low of $92.67 and a 1 year high of $136.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $17.38 billion, a P/E ratio of 12.67, a PEG ratio of 1.55 and a beta of 0.94. The company’s fifty day moving average is $123.12 and its two-hundred day moving average is $116.37.

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

East West Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 4th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, May 4th. East West Bancorp’s dividend payout ratio (DPR) is presently 31.97%.

Insider Transactions at East West Bancorp

In other East West Bancorp news, CEO Dominic Ng sold 30,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $123.49, for a total value of $3,704,700.00. Following the transaction, the chief executive officer directly owned 707,930 shares in the company, valued at approximately $87,422,275.70. This represents a 4.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $123.50, for a total value of $1,235,000.00. Following the transaction, the insider directly owned 46,974 shares in the company, valued at approximately $5,801,289. This represents a 17.55% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 54,311 shares of company stock valued at $6,784,711. Company insiders own 0.94% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on EWBC. Citigroup increased their price target on shares of East West Bancorp from $139.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. DA Davidson raised their target price on East West Bancorp from $135.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. UBS Group raised their price target on shares of East West Bancorp from $125.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Morgan Stanley decreased their price objective on 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $133.00 target price on shares of East West Bancorp in a research note on Wednesday, April 22nd. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.69.

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.