ExodusPoint Capital Management LP Invests $13.74 Million in East West Bancorp, Inc. (NASDAQ:EWBC)

ExodusPoint Capital Management LP purchased a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 143,513 shares of the financial services provider's stock, valued at approximately $13,743,000. ExodusPoint Capital Management LP owned about 0.10% of East West Bancorp as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in shares of East West Bancorp in the third quarter valued at approximately $26,000. Venturi Wealth Management LLC increased its holdings in East West Bancorp by 73.2% during the 4th quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 175 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in East West Bancorp by 119.1% during the 4th quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 306 shares in the last quarter. UMB Bank n.a. raised its position in East West Bancorp by 83.4% in the 4th quarter. UMB Bank n.a. now owns 662 shares of the financial services provider's stock valued at $63,000 after purchasing an additional 301 shares during the last quarter. Finally, Quarry LP boosted its stake in East West Bancorp by 822.9% in the third quarter. Quarry LP now owns 1,006 shares of the financial services provider's stock worth $83,000 after purchasing an additional 897 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other East West Bancorp news, CEO Dominic Ng sold 20,181 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $90.01, for a total transaction of $1,816,491.81. Following the sale, the chief executive officer now directly owns 988,133 shares in the company, valued at approximately $88,941,851.33. This trade represents a 2.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jack C. Liu sold 725 shares of East West Bancorp stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $104.50, for a total transaction of $75,762.50. Following the completion of the transaction, the director now directly owns 15,832 shares in the company, valued at approximately $1,654,444. The trade was a 4.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,181 shares of company stock valued at $5,625,732 in the last quarter. Company insiders own 1.04% of the company's stock.

East West Bancorp Trading Up 8.6 %

Shares of NASDAQ:EWBC traded up $6.13 during mid-day trading on Wednesday, reaching $77.16. The stock had a trading volume of 2,757,119 shares, compared to its average volume of 903,948. The firm has a 50 day simple moving average of $90.53 and a two-hundred day simple moving average of $95.19. East West Bancorp, Inc. has a twelve month low of $68.27 and a twelve month high of $113.95. The firm has a market cap of $10.68 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 1.29 and a beta of 1.09. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

East West Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.11%. This is a boost from East West Bancorp's previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Monday, February 3rd. East West Bancorp's dividend payout ratio (DPR) is currently 28.81%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EWBC. Piper Sandler cut their price target on East West Bancorp from $100.00 to $97.00 and set a "neutral" rating for the company in a report on Monday, January 27th. UBS Group started coverage on shares of East West Bancorp in a research report on Tuesday, December 17th. They set a "neutral" rating and a $112.00 target price on the stock. Compass Point raised their price target on shares of East West Bancorp from $110.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Barclays dropped their price objective on shares of East West Bancorp from $120.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, DA Davidson decreased their price objective on East West Bancorp from $120.00 to $118.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $106.46.

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.