Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in East West Bancorp, Inc. (NASDAQ:EWBC – Get Rating) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,425 shares of the financial services provider’s stock, valued at approximately $700,000.
Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in shares of East West Bancorp by 17.4% during the first quarter. American Century Companies Inc. now owns 21,819 shares of the financial services provider’s stock worth $1,725,000 after buying an additional 3,228 shares in the last quarter. Natixis Advisors L.P. acquired a new stake in East West Bancorp in the first quarter valued at $836,000. Great West Life Assurance Co. Can increased its holdings in East West Bancorp by 8.1% in the first quarter. Great West Life Assurance Co. Can now owns 77,662 shares of the financial services provider’s stock valued at $6,308,000 after purchasing an additional 5,821 shares during the period. Canada Pension Plan Investment Board increased its holdings in East West Bancorp by 221.0% in the first quarter. Canada Pension Plan Investment Board now owns 2,600 shares of the financial services provider’s stock valued at $205,000 after purchasing an additional 1,790 shares during the period. Finally, Vanguard Group Inc. increased its holdings in East West Bancorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 13,803,992 shares of the financial services provider’s stock valued at $1,090,792,000 after purchasing an additional 86,848 shares during the period. 88.68% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on EWBC shares. Morgan Stanley increased their price objective on East West Bancorp from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Friday, January 27th. Truist Financial upped their price target on shares of East West Bancorp from $77.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, January 27th. Finally, Wells Fargo & Company cut their price target on shares of East West Bancorp from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, December 15th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $82.00.
East West Bancorp Stock Performance
East West Bancorp (NASDAQ:EWBC – Get Rating) last issued its earnings results on Thursday, January 26th. The financial services provider reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.15. The company had revenue of $826.14 million for the quarter, compared to analysts’ expectations of $654.24 million. East West Bancorp had a net margin of 43.06% and a return on equity of 19.66%. During the same quarter last year, the company earned $1.52 EPS. As a group, equities research analysts predict that East West Bancorp, Inc. will post 9.11 EPS for the current fiscal year.
East West Bancorp Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 21st. Shareholders of record on Monday, February 6th were given a $0.48 dividend. This is a boost from East West Bancorp’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.52%. East West Bancorp’s payout ratio is presently 24.24%.
Insider Buying and Selling at East West Bancorp
In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $77.00, for a total value of $154,000.00. Following the transaction, the director now owns 17,136 shares in the company, valued at $1,319,472. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.80% of the company’s stock.
East West Bancorp Company Profile
East West Bancorp, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following business segments: Consumer and Business Banking, Commercial Banking, and Other. The Consumer and Business Banking segment provides financial service products and services to consumer and commercial customers through the company’s branch network in the U.S.
Read More
- Get a free copy of the StockNews.com research report on East West Bancorp (EWBC)
- Will Q4 Results Send Zoom Video Stock Higher?
- Is Amazon a Blue Chip Stock?
- Occidental Petroleum Pulls Back To The Sweet Spot
- Should You Take a Cruise in Royal Caribbean Stock?
- Is Target Stock Aiming For A Breakout In 2023?
Want to see what other hedge funds are holding EWBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for East West Bancorp, Inc. (NASDAQ:EWBC – Get Rating).
Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.
