Squarepoint Ops LLC Acquires 31,761 Shares of East West Bancorp, Inc. $EWBC

Squarepoint Ops LLC boosted its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 61.2% in the second quarter, Holdings Channel reports. The firm owned 83,620 shares of the financial services provider’s stock after purchasing an additional 31,761 shares during the quarter. Squarepoint Ops LLC’s holdings in East West Bancorp were worth $10,795,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Marathon Mission Inc. raised its holdings in shares of East West Bancorp by 3.8% in the 2nd quarter. Marathon Mission Inc. now owns 2,566 shares of the financial services provider’s stock worth $331,000 after buying an additional 93 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of East West Bancorp by 3.4% in the 2nd quarter. Baird Financial Group Inc. now owns 2,967 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 97 shares during the last quarter. Quarry LP increased its position in shares of East West Bancorp by 35.4% during the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 102 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of East West Bancorp by 1.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 5,674 shares of the financial services provider’s stock worth $604,000 after purchasing an additional 102 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT boosted its position in East West Bancorp by 1.1% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 9,195 shares of the financial services provider’s stock valued at $1,033,000 after buying an additional 102 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Vice Chairman Douglas Krause sold 10,000 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $132.37, for a total value of $1,323,700.00. Following the completion of the sale, the insider owned 36,974 shares in the company, valued at $4,894,248.38. This represents a 21.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jack C. Liu sold 1,000 shares of East West Bancorp stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $135.02, for a total value of $135,020.00. Following the transaction, the director owned 13,709 shares in the company, valued at approximately $1,850,989.18. This represents a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,300 shares of company stock valued at $1,631,522 in the last quarter. Company insiders own 0.94% of the company’s stock.

East West Bancorp Trading Down 0.8%

NASDAQ EWBC opened at $128.28 on Thursday. East West Bancorp, Inc. has a 12 month low of $92.67 and a 12 month high of $137.47. The stock has a 50-day simple moving average of $131.33 and a 200 day simple moving average of $122.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $17.58 billion, a PE ratio of 12.33, a P/E/G ratio of 1.50 and a beta of 0.93.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.02. The company had revenue of $789.98 million during the quarter, compared to analyst estimates of $784.47 million. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.24 EPS. Research analysts forecast that East West Bancorp, Inc. will post 10.61 EPS for the current year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 3rd. East West Bancorp’s dividend payout ratio (DPR) is currently 30.77%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $152.00 price objective on shares of East West Bancorp in a report on Wednesday, August 19th. Weiss Ratings restated a “buy (b)” rating on shares of East West Bancorp in a research note on Friday, July 10th. Wells Fargo & Company began coverage on shares of East West Bancorp in a report on Monday, August 10th. They set an “overweight” rating and a $155.00 price objective on the stock. DA Davidson boosted their target price on shares of East West Bancorp from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, Citigroup reissued a “buy” rating on shares of East West Bancorp in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $144.15.

East West Bancorp Profile

East West Bancorp, Inc (NASDAQ: EWBC) is the holding company for East West Bank, a full-service commercial bank headquartered in Pasadena, California. Founded in 1973, the company provides banking and financial services to individuals, businesses, and institutions through its East West Bank subsidiary.

East West Bank offers deposit accounts, commercial and consumer lending, residential mortgage services, wealth management, treasury management, and international banking services. Its products support commercial real estate, commercial and industrial businesses, residential borrowers, and consumers.

The bank has a particular focus on serving communities and businesses connected to the United States and Greater China.