Qsemble Capital Management LP Makes New $699,000 Investment in East West Bancorp, Inc. (NASDAQ:EWBC)

Qsemble Capital Management LP purchased a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 9,549 shares of the financial services provider’s stock, valued at approximately $699,000.

A number of other hedge funds have also modified their holdings of EWBC. Riverview Trust Co acquired a new stake in shares of East West Bancorp during the first quarter worth about $25,000. YHB Investment Advisors Inc. purchased a new position in East West Bancorp during the 1st quarter worth approximately $27,000. Kapitalo Investimentos Ltda acquired a new stake in East West Bancorp during the 4th quarter valued at approximately $29,000. Rise Advisors LLC purchased a new stake in shares of East West Bancorp in the 1st quarter valued at $30,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of East West Bancorp in the second quarter worth $30,000. 89.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at East West Bancorp

In other East West Bancorp news, EVP Gary Teo sold 3,450 shares of East West Bancorp stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.73, for a total transaction of $302,668.50. Following the sale, the executive vice president now owns 15,875 shares of the company’s stock, valued at approximately $1,392,713.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Lisa L. Kim sold 6,000 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 18,891 shares in the company, valued at $1,486,343.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gary Teo sold 3,450 shares of East West Bancorp stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.73, for a total value of $302,668.50. Following the transaction, the executive vice president now owns 15,875 shares in the company, valued at approximately $1,392,713.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,346 shares of company stock valued at $1,108,160. 1.04% of the stock is owned by insiders.

Analysts Set New Price Targets

EWBC has been the subject of a number of research reports. Piper Sandler boosted their target price on shares of East West Bancorp from $72.50 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Truist Financial upped their target price on East West Bancorp from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. StockNews.com raised East West Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Barclays decreased their price target on East West Bancorp from $106.00 to $105.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Finally, Jefferies Financial Group dropped their price objective on shares of East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.53.

East West Bancorp Stock Performance

EWBC opened at $79.50 on Friday. The firm’s fifty day simple moving average is $80.53 and its two-hundred day simple moving average is $76.57. East West Bancorp, Inc. has a 52-week low of $49.59 and a 52-week high of $89.75. The company has a market cap of $11.02 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 2.65 and a beta of 1.29. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results 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 net margin of 25.40% and a return on equity of 16.64%. The firm had revenue of $638.00 million for the quarter, compared to analyst estimates of $631.61 million. During the same period last year, the company posted $2.20 EPS. East West Bancorp’s quarterly revenue was down .9% compared to the same quarter last year. Equities analysts anticipate that East West Bancorp, Inc. will post 8.2 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Friday, August 2nd. East West Bancorp’s payout ratio is 27.71%.

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.