Blair William & Co. IL boosted its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 596.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,344 shares of the financial services provider’s stock after buying an additional 25,989 shares during the period. Blair William & Co. IL’s holdings in East West Bancorp were worth $1,778,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. raised its position in East West Bancorp by 11,449.0% in the first quarter. BlackRock Inc. now owns 11,955,936 shares of the financial services provider’s stock valued at $617,046,000 after buying an additional 11,852,412 shares during the period. Victory Capital Management Inc. raised its position in East West Bancorp by 6,167.5% in the first quarter. Victory Capital Management Inc. now owns 1,109,782 shares of the financial services provider’s stock valued at $57,276,000 after buying an additional 1,092,075 shares during the period. Boston Partners raised its position in East West Bancorp by 14.4% in the second quarter. Boston Partners now owns 6,568,832 shares of the financial services provider’s stock valued at $384,802,000 after buying an additional 828,887 shares during the period. Vanguard Group Inc. raised its position in East West Bancorp by 5.0% in the first quarter. Vanguard Group Inc. now owns 11,840,450 shares of the financial services provider’s stock valued at $611,085,000 after buying an additional 566,257 shares during the period. Finally, William Blair Investment Management LLC raised its position in East West Bancorp by 56.2% in the first quarter. William Blair Investment Management LLC now owns 1,504,334 shares of the financial services provider’s stock valued at $77,639,000 after buying an additional 541,149 shares during the period. 92.16% of the stock is owned by hedge funds and other institutional investors.
Shares of East West Bancorp, Inc. (NASDAQ:EWBC) opened at 55.67 on Friday. East West Bancorp, Inc. has a one year low of $35.33 and a one year high of $60.42. The company has a 50-day moving average of $56.93 and a 200 day moving average of $55.19. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 15.90 and a beta of 1.41.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81. The firm had revenue of $337.49 million for the quarter, compared to analyst estimates of $329.32 million. East West Bancorp had a return on equity of 13.31% and a net margin of 34.63%. During the same period in the previous year, the firm earned $0.71 earnings per share. On average, equities analysts forecast that East West Bancorp, Inc. will post $3.74 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.44%. The ex-dividend date was Friday, July 28th. East West Bancorp’s payout ratio is 22.92%.
EWBC has been the subject of several recent research reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 target price (up from $59.00) on shares of East West Bancorp in a report on Thursday, July 6th. Deutsche Bank AG lowered shares of East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 target price for the company. in a report on Friday, July 14th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $57.00 target price on shares of East West Bancorp in a report on Friday, June 23rd. BidaskClub lowered shares of East West Bancorp from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Finally, BMO Capital Markets lowered shares of East West Bancorp from an “outperform” rating to a “market perform” rating and set a $63.00 price target for the company. in a report on Friday, July 7th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. East West Bancorp currently has a consensus rating of “Hold” and an average price target of $62.75.
In related news, Director Jack C. Liu sold 1,123 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $59.00, for a total transaction of $66,257.00. Following the transaction, the director now directly owns 23,669 shares of the company’s stock, valued at $1,396,471. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is currently owned by insiders.
About East West Bancorp
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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