XTX Topco Ltd Takes $599,000 Position in East West Bancorp, Inc. (NASDAQ:EWBC)

XTX Topco Ltd acquired a new stake in East West Bancorp, Inc. (NASDAQ:EWBC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,176 shares of the financial services provider’s stock, valued at approximately $599,000.

Other large investors have also recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new position in East West Bancorp during the first quarter worth about $25,000. YHB Investment Advisors Inc. purchased a new position in shares of East West Bancorp in the 1st quarter worth about $27,000. Kapitalo Investimentos Ltda purchased a new position in shares of East West Bancorp in the 4th quarter worth about $29,000. Rise Advisors LLC purchased a new position in shares of East West Bancorp in the 1st quarter worth about $30,000. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of East West Bancorp in the 2nd quarter worth about $30,000. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Truist Financial cut their price objective on East West Bancorp from $96.00 to $93.00 and set a “buy” rating on the stock in a report on Friday. DA Davidson raised their price objective on East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Jefferies Financial Group cut their price objective on East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Wells Fargo & Company raised their price objective on East West Bancorp from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Stephens increased their target price on East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.33.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, Director Rudolph Estrada sold 1,896 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.77, for a total transaction of $166,411.92. Following the transaction, the director now owns 18,470 shares of the company’s stock, valued at approximately $1,621,111.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other East West Bancorp news, Director Rudolph Estrada sold 1,896 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.77, for a total transaction of $166,411.92. Following the transaction, the director now owns 18,470 shares of the company’s stock, valued at approximately $1,621,111.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Lisa L. Kim sold 6,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $78.68, for a total value of $472,080.00. Following the transaction, the executive vice president now directly owns 18,891 shares in the company, valued at approximately $1,486,343.88. The disclosure for this sale can be found here. Insiders sold a total of 13,346 shares of company stock worth $1,108,160 in the last 90 days. 1.04% of the stock is owned by corporate insiders.

East West Bancorp Price Performance

Shares of NASDAQ EWBC opened at $82.40 on Tuesday. East West Bancorp, Inc. has a fifty-two week low of $49.59 and a fifty-two week high of $89.75. The business has a 50 day moving average price of $81.45 and a two-hundred day moving average price of $76.92. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The firm has a market cap of $11.47 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 2.65 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.10. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The firm had revenue of $638.00 million during the quarter, compared to analyst estimates of $631.61 million. During the same quarter last year, the firm earned $2.20 EPS. East West Bancorp’s quarterly revenue was down .9% on a year-over-year basis. Sell-side analysts expect that East West Bancorp, Inc. will post 8.2 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.67%. East West Bancorp’s dividend payout ratio (DPR) is presently 27.71%.

About East West Bancorp

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.