East West Bancorp, Inc. (NASDAQ:EWBC) Stake Maintained by Investment Counselors of Maryland LLC
Investment Counselors of Maryland LLC continued to hold its position in East West Bancorp, Inc. (NASDAQ:EWBC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,756 shares of the financial services provider’s stock at the end of the second quarter. Investment Counselors of Maryland LLC’s holdings in East West Bancorp were worth $279,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Quadrature Capital Ltd purchased a new stake in shares of East West Bancorp during the fourth quarter valued at $221,000. CENTRAL TRUST Co purchased a new stake in shares of East West Bancorp during the first quarter valued at $177,000. Capstone Asset Management Co. boosted its stake in shares of East West Bancorp by 5.0% in the first quarter. Capstone Asset Management Co. now owns 10,804 shares of the financial services provider’s stock valued at $558,000 after buying an additional 510 shares in the last quarter. Parametrica Management Ltd purchased a new stake in shares of East West Bancorp during the first quarter valued at $351,000. Finally, Louisiana State Employees Retirement System boosted its stake in shares of East West Bancorp by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 36,400 shares of the financial services provider’s stock valued at $1,879,000 after buying an additional 800 shares in the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.
East West Bancorp, Inc. (EWBC) opened at 58.06 on Monday. The stock’s 50 day moving average price is $58.04 and its 200 day moving average price is $54.62. East West Bancorp, Inc. has a 52-week low of $33.02 and a 52-week high of $60.42. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 16.58 and a beta of 1.41.
East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.81 EPS for the quarter, meeting the consensus estimate of $0.81. The firm had revenue of $337.49 million during the quarter, compared to the consensus estimate 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 last year, the company earned $0.71 earnings per share. On average, equities analysts anticipate that East West Bancorp, Inc. will post $3.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st will be given a $0.20 dividend. The ex-dividend date is Friday, July 28th. This represents a $0.80 annualized dividend and a yield of 1.38%. East West Bancorp’s dividend payout ratio is presently 22.92%.
Several brokerages have weighed in on EWBC. Barclays PLC reissued an “overweight” rating and set a $63.00 price objective (up from $61.00) on shares of East West Bancorp in a report on Sunday, April 23rd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $57.00 price objective on shares of East West Bancorp in a report on Monday, May 22nd. Deutsche Bank AG cut East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 price objective for the company. in a report on Friday, July 14th. Morgan Stanley boosted their price objective on East West Bancorp from $57.00 to $59.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 6th. Finally, Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Monday, July 31st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $62.88.
In other news, Director Jack C. Liu sold 1,123 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $59.00, for a total transaction of $66,257.00. Following the completion of the transaction, the director now directly owns 23,669 shares in the company, valued at $1,396,471. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Molly Campbell sold 590 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $55.93, for a total value of $32,998.70. Following the transaction, the director now owns 3,903 shares of the company’s stock, valued at $218,294.79. The disclosure for this sale can be found here. Insiders sold 1,837 shares of company stock valued at $106,257 over the last quarter. Corporate insiders own 0.88% of the company’s stock.
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.
Receive News & Ratings for East West Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.