Fox Run Management L.L.C. Makes New $658,000 Investment in East West Bancorp, Inc. $EWBC

Fox Run Management L.L.C. bought a new stake in East West Bancorp, Inc. (NASDAQ:EWBC) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,183 shares of the financial services provider’s stock, valued at approximately $658,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bradley Foster & Sargent Inc. CT raised its position in East West Bancorp by 220.5% during the third quarter. Bradley Foster & Sargent Inc. CT now owns 9,093 shares of the financial services provider’s stock valued at $968,000 after purchasing an additional 6,256 shares in the last quarter. Compound Planning Inc. boosted its holdings in shares of East West Bancorp by 12.1% in the 3rd quarter. Compound Planning Inc. now owns 4,781 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 516 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of East West Bancorp by 4.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,602 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 108 shares during the last quarter. Aurora Investment Counsel raised its holdings in shares of East West Bancorp by 5.6% during the 3rd quarter. Aurora Investment Counsel now owns 21,219 shares of the financial services provider’s stock worth $2,259,000 after buying an additional 1,121 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its position in shares of East West Bancorp by 42.4% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,688 shares of the financial services provider’s stock worth $393,000 after buying an additional 1,099 shares during the last quarter. Institutional investors own 89.53% of the company’s stock.

East West Bancorp Stock Down 6.1%

NASDAQ:EWBC opened at $109.45 on Friday. East West Bancorp, Inc. has a one year low of $68.27 and a one year high of $123.82. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $15.06 billion, a PE ratio of 11.50, a P/E/G ratio of 1.51 and a beta of 0.92. The firm’s 50 day simple moving average is $116.11 and its 200 day simple moving average is $109.13.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.04. The firm had revenue of $753.79 million during the quarter, compared to the consensus estimate of $745.04 million. East West Bancorp had a net margin of 28.36% and a return on equity of 15.72%. During the same quarter last year, the firm earned $2.10 earnings per share. On average, research analysts anticipate that East West Bancorp, Inc. will post 8.85 earnings per share for the current year.

East West Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 2nd were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $3.20 annualized dividend and a yield of 2.9%. This is an increase from East West Bancorp’s previous quarterly dividend of $0.60. East West Bancorp’s dividend payout ratio is 33.61%.

Insider Activity

In other East West Bancorp news, CEO Dominic Ng sold 50,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $117.82, for a total value of $5,891,000.00. Following the sale, the chief executive officer owned 808,331 shares in the company, valued at approximately $95,237,558.42. The trade was a 5.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Parker Shi sold 8,844 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $115.03, for a total value of $1,017,325.32. Following the completion of the sale, the chief operating officer directly owned 14,950 shares of the company’s stock, valued at approximately $1,719,698.50. The trade was a 37.17% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 119,065 shares of company stock worth $13,857,314. 1.04% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EWBC has been the topic of a number of recent analyst reports. Barclays lifted their target price on East West Bancorp from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Zacks Research lowered shares of East West Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 24th. Deutsche Bank Aktiengesellschaft started coverage on shares of East West Bancorp in a research report on Tuesday, December 16th. They set a “buy” rating and a $133.00 price objective for the company. TD Cowen cut their target price on shares of East West Bancorp from $141.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Finally, Truist Financial set a $121.00 price target on shares of East West Bancorp in a report on Friday, January 23rd. Ten equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, East West Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.14.

East West Bancorp Profile

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.