Oregon Public Employees Retirement Fund raised its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,762 shares of the financial services provider’s stock after buying an additional 2,275 shares during the period. Oregon Public Employees Retirement Fund’s holdings in East West Bancorp were worth $3,091,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Washington Trust Bank increased its position in East West Bancorp by 3.7% in the first quarter. Washington Trust Bank now owns 2,380 shares of the financial services provider’s stock valued at $123,000 after buying an additional 86 shares during the last quarter. CENTRAL TRUST Co purchased a new position in East West Bancorp during the first quarter worth approximately $177,000. Quadrature Capital Ltd purchased a new position in East West Bancorp during the fourth quarter worth approximately $221,000. Oppenheimer Asset Management Inc. purchased a new position in East West Bancorp during the first quarter worth approximately $230,000. Finally, Smith Moore & CO. increased its position in East West Bancorp by 17.4% in the first quarter. Smith Moore & CO. now owns 4,840 shares of the financial services provider’s stock worth $250,000 after buying an additional 719 shares in the last quarter. Institutional investors and hedge funds own 92.16% of the company’s stock.
East West Bancorp, Inc. (EWBC) traded down 0.33% during mid-day trading on Friday, reaching $54.52. The company had a trading volume of 511,225 shares. East West Bancorp, Inc. has a 52 week low of $34.08 and a 52 week high of $60.42. The stock has a 50 day moving average of $57.48 and a 200 day moving average of $55.07. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 15.57 and a beta of 1.41.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.81 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. East West Bancorp had a return on equity of 13.31% and a net margin of 34.63%. The business had revenue of $337.49 million for the quarter, compared to analyst estimates of $329.32 million. During the same quarter in the prior year, the company posted $0.71 EPS. Analysts anticipate that East West Bancorp, Inc. will post $3.74 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.80 annualized dividend and a dividend yield of 1.47%. East West Bancorp’s dividend payout ratio is presently 22.92%.
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A number of research analysts have recently commented on the company. Barclays PLC reiterated an “overweight” rating and set a $63.00 target price (up from $61.00) on shares of East West Bancorp in a research report on Sunday, April 23rd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $57.00 target price on shares of East West Bancorp in a research report on Monday, May 22nd. Deutsche Bank AG downgraded East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 target price for the company. in a research report on Friday, July 14th. Morgan Stanley increased their target price on East West Bancorp from $57.00 to $59.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 6th. Finally, Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Monday, July 31st. Three analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.88.
In related news, Director Jack C. Liu sold 1,123 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $59.00, for a total value of $66,257.00. Following the sale, the director now owns 23,669 shares in the company, valued at approximately $1,396,471. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is currently owned by insiders.
East West Bancorp Company Profile
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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