Quantinno Capital Management LP Buys 4,212 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Quantinno Capital Management LP increased its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 27.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,520 shares of the financial services provider’s stock after buying an additional 4,212 shares during the quarter. Quantinno Capital Management LP’s holdings in East West Bancorp were worth $1,615,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Jupiter Asset Management Ltd. purchased a new position in East West Bancorp in the second quarter worth $59,460,000. Millennium Management LLC raised its stake in shares of East West Bancorp by 152.1% during the 2nd quarter. Millennium Management LLC now owns 374,213 shares of the financial services provider’s stock worth $27,404,000 after purchasing an additional 225,799 shares during the period. Miller Howard Investments Inc. NY boosted its holdings in shares of East West Bancorp by 30.6% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 649,708 shares of the financial services provider’s stock worth $47,578,000 after buying an additional 152,334 shares during the last quarter. Westfield Capital Management Co. LP grew its position in East West Bancorp by 39.9% during the third quarter. Westfield Capital Management Co. LP now owns 520,656 shares of the financial services provider’s stock valued at $43,079,000 after buying an additional 148,530 shares during the period. Finally, FMR LLC increased its holdings in East West Bancorp by 1.8% during the third quarter. FMR LLC now owns 7,882,803 shares of the financial services provider’s stock worth $652,223,000 after buying an additional 136,528 shares during the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of East West Bancorp from $96.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Compass Point raised their target price on East West Bancorp from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday. Truist Financial increased their price target on East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Wedbush boosted their price objective on East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Stephens downgraded shares of East West Bancorp from an “overweight” rating to an “equal weight” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, East West Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.17.

East West Bancorp Trading Up 1.5 %

Shares of EWBC stock opened at $105.13 on Thursday. The company has a market capitalization of $14.57 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 3.06 and a beta of 1.28. East West Bancorp, Inc. has a 52-week low of $67.03 and a 52-week high of $113.95. The business’s fifty day moving average is $99.15 and its 200 day moving average is $85.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $641.80 million. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. During the same quarter in the previous year, the firm earned $2.02 earnings per share. On average, equities research analysts anticipate that East West Bancorp, Inc. will post 8.38 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a yield of 2.09%. East West Bancorp’s payout ratio is 27.78%.

Insiders Place Their Bets

In other news, insider Irene H. Oh sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $98.50, for a total value of $985,000.00. Following the transaction, the insider now owns 117,193 shares in the company, valued at approximately $11,543,510.50. This trade represents a 7.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the completion of the transaction, the insider now owns 45,403 shares in the company, valued at $4,840,413.83. The trade was a 20.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,969 shares of company stock valued at $2,458,276 over the last 90 days. Insiders own 1.04% of the company’s stock.

East West Bancorp Profile

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.