Matthew 25 Management Corp Sells 7,500 Shares of East West Bancorp, Inc. $EWBC

Matthew 25 Management Corp lessened its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 7.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 100,000 shares of the financial services provider’s stock after selling 7,500 shares during the period. East West Bancorp makes up approximately 3.4% of Matthew 25 Management Corp’s holdings, making the stock its 13th biggest holding. Matthew 25 Management Corp’s holdings in East West Bancorp were worth $11,239,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Foster Dykema Cabot & Partners LLC bought a new position in East West Bancorp in the 3rd quarter valued at $26,000. Kelleher Financial Advisors purchased a new stake in shares of East West Bancorp in the 3rd quarter worth $31,000. Mather Group LLC. purchased a new stake in shares of East West Bancorp in the 3rd quarter worth $38,000. Wilmington Savings Fund Society FSB lifted its holdings in shares of East West Bancorp by 44.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock worth $39,000 after buying an additional 113 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of East West Bancorp by 115.0% in the 4th quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock worth $39,000 after buying an additional 184 shares during the period. Institutional investors own 89.53% of the company’s stock.

East West Bancorp Price Performance

Shares of EWBC stock opened at $123.55 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $16.92 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 1.52 and a beta of 0.97. East West Bancorp, Inc. has a twelve month low of $86.21 and a twelve month high of $127.51. The stock has a fifty day simple moving average of $112.53 and a two-hundred day simple moving average of $111.31.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.11. The firm had revenue of $773.75 million during the quarter, compared to analysts’ expectations of $767.80 million. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.08 EPS. On average, analysts predict that East West Bancorp, Inc. will post 10.57 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 18th. Investors of record on Monday, May 4th will be 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 is Monday, May 4th. East West Bancorp’s dividend payout ratio is 31.97%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their target price on East West Bancorp from $131.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Truist Financial upped their target price on East West Bancorp from $120.00 to $128.00 and gave the stock a “hold” rating in a report on Thursday, April 23rd. Citigroup upped their target price on East West Bancorp from $139.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Barclays lowered their target price on East West Bancorp from $150.00 to $142.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Finally, Stephens upped their target price on East West Bancorp from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, January 26th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.36.

Insider Buying and Selling

In related news, Director Molly Campbell sold 1,800 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $122.81, for a total transaction of $221,058.00. Following the completion of the sale, the director directly owned 5,756 shares in the company, valued at $706,894.36. This represents a 23.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jack C. Liu sold 1,421 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $119.00, for a total value of $169,099.00. Following the sale, the director owned 13,553 shares of the company’s stock, valued at $1,612,807. This trade represents a 9.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 12,021 shares of company stock valued at $1,474,277. Company insiders own 0.94% 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.