Delta Investment Management LLC Trims Stock Position in East West Bancorp, Inc. $EWBC

Delta Investment Management LLC cut its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 4.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,539 shares of the financial services provider’s stock after selling 409 shares during the period. Delta Investment Management LLC’s holdings in East West Bancorp were worth $963,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of EWBC. Park Place Capital Corp purchased a new stake in shares of East West Bancorp in the 2nd quarter valued at approximately $27,000. Picton Mahoney Asset Management raised its stake in shares of East West Bancorp by 1,971.4% in the 1st quarter. Picton Mahoney Asset Management now owns 290 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 276 shares during the period. Chung Wu Investment Group LLC purchased a new stake in shares of East West Bancorp in the 2nd quarter valued at approximately $30,000. WPG Advisers LLC purchased a new stake in shares of East West Bancorp in the 1st quarter valued at approximately $28,000. Finally, American National Bank & Trust purchased a new stake in shares of East West Bancorp in the 2nd quarter valued at approximately $32,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Price Performance

Shares of EWBC opened at $102.52 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.35. East West Bancorp, Inc. has a fifty-two week low of $68.27 and a fifty-two week high of $113.95. The company has a market cap of $14.13 billion, a P/E ratio of 11.30, a PEG ratio of 1.15 and a beta of 0.93. The firm’s 50 day moving average price is $104.96 and its 200 day moving average price is $98.41.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Monday, December 11th. The financial services provider reported $2.08 EPS for the quarter. East West Bancorp had a net margin of 27.16% and a return on equity of 15.55%. The company had revenue of $627.36 million during the quarter. On average, research analysts forecast that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.3%. The ex-dividend date is Monday, November 3rd. East West Bancorp’s payout ratio is 26.46%.

Insiders Place Their Bets

In other East West Bancorp news, EVP Gary Teo sold 6,550 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $106.47, for a total transaction of $697,378.50. Following the completion of the transaction, the executive vice president owned 12,235 shares in the company, valued at $1,302,660.45. The trade was a 34.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Irene H. Oh sold 15,051 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $106.73, for a total transaction of $1,606,393.23. Following the transaction, the insider owned 113,353 shares of the company’s stock, valued at $12,098,165.69. This trade represents a 11.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,240 shares of company stock worth $3,244,478 in the last 90 days. Corporate insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on EWBC shares. Truist Financial boosted their price target on shares of East West Bancorp from $112.00 to $116.00 and gave the company a “hold” rating in a research note on Thursday. Piper Sandler boosted their price target on shares of East West Bancorp from $100.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, September 8th. TD Cowen began coverage on shares of East West Bancorp in a research note on Thursday, September 25th. They issued a “buy” rating and a $139.00 price target on the stock. Citigroup upped their target price on shares of East West Bancorp from $124.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Finally, Weiss Ratings downgraded shares of East West Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Ten investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, East West Bancorp currently has an average rating of “Moderate Buy” and an average price target of $123.85.

East West Bancorp Company 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.