Northwestern Mutual Wealth Management Co. increased its position in East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) by 3.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,307 shares of the financial services provider’s stock after buying an additional 160 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in East West Bancorp were worth $315,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of EWBC. CIBC Asset Management Inc raised its holdings in East West Bancorp by 2.8% in the 2nd quarter. CIBC Asset Management Inc now owns 4,753 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 128 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in East West Bancorp by 3.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,606 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 133 shares during the last quarter. OLD National Bancorp IN increased its stake in East West Bancorp by 6.4% in the second quarter. OLD National Bancorp IN now owns 2,923 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 175 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in East West Bancorp by 2.0% during the second quarter. Coldstream Capital Management Inc. now owns 9,372 shares of the financial services provider’s stock worth $686,000 after buying an additional 184 shares during the period. Finally, Blair William & Co. IL boosted its stake in East West Bancorp by 5.4% in the 1st quarter. Blair William & Co. IL now owns 3,691 shares of the financial services provider’s stock worth $292,000 after buying an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of East West Bancorp from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Jefferies Financial Group cut their price target on shares of East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Piper Sandler lifted their price target on shares of East West Bancorp from $72.50 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. StockNews.com upgraded East West Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Stephens lifted their target price on East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.43.
Insider Activity
In related news, Director Rudolph Estrada sold 1,896 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $87.77, for a total value of $166,411.92. Following the transaction, the director now owns 18,470 shares in the company, valued at approximately $1,621,111.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Rudolph Estrada sold 1,896 shares of East West Bancorp stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.77, for a total value of $166,411.92. Following the completion of the sale, the director now owns 18,470 shares in the company, valued at approximately $1,621,111.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total transaction of $167,000.00. Following the completion of the sale, the director now directly owns 16,557 shares in the company, valued at $1,382,509.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,346 shares of company stock worth $1,108,160 over the last ninety days. Corporate insiders own 1.04% of the company’s stock.
East West Bancorp Stock Performance
Shares of NASDAQ:EWBC opened at $85.27 on Thursday. The business’s 50-day simple moving average is $80.96 and its 200 day simple moving average is $77.37. The company has a market cap of $11.86 billion, a P/E ratio of 10.74, a PEG ratio of 2.80 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. East West Bancorp, Inc. has a one year low of $50.23 and a one year high of $89.75.
East West Bancorp (NASDAQ:EWBC – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.10. The company had revenue of $638.00 million for the quarter, compared to analyst estimates of $631.61 million. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 earnings per share. On average, sell-side analysts forecast that East West Bancorp, Inc. will post 8.17 earnings per share for the current fiscal year.
East West Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.58%. East West Bancorp’s payout ratio is currently 27.71%.
East West Bancorp Profile
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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