Nordea Investment Management AB Buys 6,610 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Nordea Investment Management AB grew its stake in East West Bancorp, Inc. (NASDAQ:EWBCFree Report) by 25.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,543 shares of the financial services provider’s stock after acquiring an additional 6,610 shares during the quarter. Nordea Investment Management AB’s holdings in East West Bancorp were worth $2,583,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in East West Bancorp by 1.4% in the third quarter. Vanguard Group Inc. now owns 15,243,818 shares of the financial services provider’s stock worth $803,502,000 after buying an additional 215,281 shares during the last quarter. Capital International Investors raised its holdings in East West Bancorp by 1.4% in the 4th quarter. Capital International Investors now owns 11,582,254 shares of the financial services provider’s stock worth $833,469,000 after acquiring an additional 159,963 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in East West Bancorp by 30.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,215,701 shares of the financial services provider’s stock worth $231,370,000 after acquiring an additional 751,944 shares during the last quarter. Boston Partners lifted its position in East West Bancorp by 48.5% in the 4th quarter. Boston Partners now owns 2,713,987 shares of the financial services provider’s stock valued at $195,279,000 after acquiring an additional 886,841 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in East West Bancorp by 3.0% during the 4th quarter. Schroder Investment Management Group now owns 2,462,062 shares of the financial services provider’s stock valued at $177,145,000 after purchasing an additional 72,746 shares during the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Vice Chairman Douglas Paul Krause sold 8,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $73.76, for a total value of $590,080.00. Following the transaction, the insider now directly owns 57,403 shares in the company, valued at $4,234,045.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Vice Chairman Douglas Paul Krause sold 8,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $73.76, for a total transaction of $590,080.00. Following the completion of the sale, the insider now owns 57,403 shares in the company, valued at $4,234,045.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Irene H. Oh sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $77.58, for a total value of $775,800.00. Following the completion of the transaction, the insider now directly owns 127,193 shares in the company, valued at $9,867,632.94. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by company insiders.

East West Bancorp Stock Performance

Shares of EWBC opened at $72.75 on Thursday. The business has a 50-day simple moving average of $73.53 and a two-hundred day simple moving average of $73.55. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. East West Bancorp, Inc. has a 52 week low of $49.59 and a 52 week high of $79.54. The stock has a market cap of $10.12 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 3.60 and a beta of 1.32.

East West Bancorp (NASDAQ:EWBCGet Free Report) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.08. East West Bancorp had a net margin of 26.78% and a return on equity of 17.43%. The company had revenue of $644.13 million during the quarter, compared to analyst estimates of $636.77 million. During the same period in the prior year, the firm posted $2.32 EPS. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, analysts expect that East West Bancorp, Inc. will post 8.03 EPS for the current year.

East West Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend was Thursday, May 2nd. East West Bancorp’s dividend payout ratio is currently 27.71%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EWBC. Truist Financial decreased their price target on East West Bancorp from $86.00 to $80.00 and set a “buy” rating for the company in a research note on Monday. Wedbush restated an “outperform” rating and set a $90.00 target price on shares of East West Bancorp in a research note on Wednesday, April 24th. Stephens lifted their price target on shares of East West Bancorp from $85.00 to $86.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Citigroup increased their price objective on shares of East West Bancorp from $85.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Finally, Compass Point raised their target price on shares of East West Bancorp from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, East West Bancorp has an average rating of “Moderate Buy” and a consensus price target of $83.31.

Read Our Latest Research Report on East West Bancorp

East West Bancorp Profile

(Free Report)

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.

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

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