Natixis Advisors L.P. lifted its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) by 7.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 102,175 shares of the financial services provider’s stock after purchasing an additional 6,716 shares during the quarter. Natixis Advisors L.P. owned about 0.07% of East West Bancorp worth $5,671,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in EWBC. CoreCap Advisors LLC acquired a new position in shares of East West Bancorp during the 4th quarter worth $40,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of East West Bancorp during the 4th quarter worth $53,000. Ellevest Inc. grew its stake in shares of East West Bancorp by 56.9% during the 1st quarter. Ellevest Inc. now owns 1,026 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 372 shares during the period. Archer Investment Corp acquired a new position in shares of East West Bancorp during the 1st quarter worth $64,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of East West Bancorp during the 1st quarter worth $85,000. 87.11% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $56.00 price target on shares of East West Bancorp in a research note on Monday, July 24th. StockNews.com upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Truist Financial decreased their price objective on shares of East West Bancorp from $64.00 to $62.00 in a research report on Thursday, June 29th. Wedbush boosted their price objective on shares of East West Bancorp from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Finally, 92 Resources reiterated a “maintains” rating on shares of East West Bancorp in a research report on Thursday, June 29th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $68.86.
Insider Transactions at East West Bancorp
In other news, Director Rudolph Estrada sold 2,411 shares of the stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $55.96, for a total transaction of $134,919.56. Following the transaction, the director now directly owns 18,548 shares in the company, valued at approximately $1,037,946.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.91% of the company’s stock.
East West Bancorp Price Performance
NASDAQ:EWBC opened at $55.42 on Thursday. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 6.21, a price-to-earnings-growth ratio of 0.66 and a beta of 1.43. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average is $56.49 and its two-hundred day moving average is $56.71. East West Bancorp, Inc. has a 12-month low of $33.86 and a 12-month high of $80.98.
East West Bancorp (NASDAQ:EWBC – Get Free Report) last released its earnings results on Thursday, July 20th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.20. The company had revenue of $645.00 million for the quarter, compared to analyst estimates of $660.49 million. East West Bancorp had a net margin of 37.14% and a return on equity of 20.86%. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.81 EPS. Research analysts expect that East West Bancorp, Inc. will post 8.4 EPS for the current year.
East West Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were issued 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 3.46%. East West Bancorp’s payout ratio is currently 21.52%.
About East West Bancorp
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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