Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) by 21.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,765 shares of the financial services provider’s stock after buying an additional 837 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in East West Bancorp were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in EWBC. CoreCap Advisors LLC acquired a new stake in shares of East West Bancorp during the fourth quarter worth approximately $40,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of East West Bancorp during the fourth quarter worth approximately $53,000. Ellevest Inc. grew its position in shares of East West Bancorp by 56.9% during the first quarter. Ellevest Inc. now owns 1,026 shares of the financial services provider’s stock worth $57,000 after buying an additional 372 shares in the last quarter. Archer Investment Corp acquired a new stake in shares of East West Bancorp during the first quarter worth approximately $64,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of East West Bancorp during the first quarter worth approximately $85,000. Institutional investors and hedge funds own 87.83% of the company’s stock.
East West Bancorp Price Performance
NASDAQ EWBC opened at $54.36 on Friday. East West Bancorp, Inc. has a 12 month low of $33.86 and a 12 month high of $80.98. The firm has a market capitalization of $7.69 billion, a PE ratio of 6.09, a P/E/G ratio of 0.64 and a beta of 1.43. The company’s 50 day simple moving average is $56.30 and its 200 day simple moving average is $57.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.91 and a quick ratio of 0.91.
East West Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, July 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.53%. East West Bancorp’s dividend payout ratio (DPR) is 21.52%.
Analyst Ratings Changes
A number of equities analysts have commented on EWBC shares. 92 Resources reaffirmed a “maintains” rating on shares of East West Bancorp in a report on Thursday, June 29th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $56.00 price objective on shares of East West Bancorp in a report on Monday, July 24th. Truist Financial cut their target price on East West Bancorp from $64.00 to $62.00 in a research note on Thursday, June 29th. StockNews.com upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Wedbush raised their target price on East West Bancorp from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $68.86.
East West Bancorp Company 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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. It accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.
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