SG Americas Securities LLC Grows Stake in East West Bancorp, Inc. (NASDAQ:EWBC)

SG Americas Securities LLC raised its stake in East West Bancorp, Inc. (NASDAQ:EWBCGet Rating) by 215.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,828 shares of the financial services provider’s stock after acquiring an additional 23,792 shares during the quarter. SG Americas Securities LLC’s holdings in East West Bancorp were worth $2,752,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EWBC. National Bank of Canada FI purchased a new position in East West Bancorp in the fourth quarter valued at about $35,000. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in East West Bancorp in the first quarter valued at about $40,000. CWM LLC boosted its stake in East West Bancorp by 116.6% in the first quarter. CWM LLC now owns 641 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 345 shares during the last quarter. Mystic Asset Management Inc. purchased a new position in East West Bancorp in the fourth quarter valued at about $55,000. Finally, HHM Wealth Advisors LLC purchased a new position in East West Bancorp in the first quarter valued at about $57,000. 89.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of East West Bancorp from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, April 22nd. Piper Sandler dropped their price target on shares of East West Bancorp to $72.00 in a research note on Monday, July 4th. Jefferies Financial Group dropped their price target on shares of East West Bancorp from $102.00 to $79.00 in a research note on Monday, July 11th. Truist Financial lowered their target price on shares of East West Bancorp from $100.00 to $80.00 in a research note on Wednesday, June 15th. Finally, Wedbush increased their target price on shares of East West Bancorp to $80.00 in a research note on Friday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.38.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $69.85 on Friday. The company’s fifty day moving average price is $68.29 and its 200-day moving average price is $76.87. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 0.99 and a beta of 1.54. East West Bancorp, Inc. has a one year low of $61.65 and a one year high of $93.51. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87.

East West Bancorp (NASDAQ:EWBCGet Rating) last issued its quarterly earnings results on Thursday, July 21st. The financial services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.11. The firm had revenue of $551.00 million for the quarter, compared to analyst estimates of $525.37 million. East West Bancorp had a net margin of 46.15% and a return on equity of 15.90%. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.57 EPS. On average, equities research analysts anticipate that East West Bancorp, Inc. will post 7.22 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, August 1st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, July 29th. East West Bancorp’s payout ratio is 25.32%.

About East West Bancorp

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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. It operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. The company accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.

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Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

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