Mesirow Financial Investment Management Equity Management cut its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 27.9% during the second quarter, Holdings Channel reports. The institutional investor owned 19,220 shares of the financial services provider’s stock after selling 7,430 shares during the period. Mesirow Financial Investment Management Equity Management’s holdings in East West Bancorp were worth $1,126,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in EWBC. Strs Ohio acquired a new position in shares of East West Bancorp during the second quarter valued at about $110,000. Washington Trust Bank boosted its position in shares of 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 in the last quarter. IFP Advisors Inc boosted its position in shares of East West Bancorp by 126.0% in the second quarter. IFP Advisors Inc now owns 2,857 shares of the financial services provider’s stock valued at $167,000 after buying an additional 1,593 shares in the last quarter. CENTRAL TRUST Co acquired a new position in shares of East West Bancorp during the first quarter valued at about $177,000. Finally, Quadrature Capital Ltd acquired a new position in shares of East West Bancorp during the fourth quarter valued at about $221,000. 88.12% of the stock is currently owned by institutional investors.

East West Bancorp, Inc. (NASDAQ EWBC) opened at 57.08 on Thursday. East West Bancorp, Inc. has a one year low of $33.89 and a one year high of $60.42. The firm has a 50 day moving average of $57.80 and a 200 day moving average of $54.89. The firm has a market capitalization of $8.25 billion, a PE ratio of 16.30 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 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $329.32 million. During the same period in the prior year, the business earned $0.71 EPS. Equities analysts forecast that East West Bancorp, Inc. will post $3.71 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, July 28th. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. East West Bancorp’s payout ratio is 22.92%.

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Several equities analysts have recently issued reports on the stock. Barclays PLC reaffirmed an “overweight” rating and issued a $63.00 price objective (up previously from $61.00) on shares of East West Bancorp in a research note on Sunday, April 23rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $57.00 price objective on shares of East West Bancorp in a research note on Monday, May 22nd. Deutsche Bank AG cut shares of East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 price objective on the stock. in a research note on Friday, July 14th. Morgan Stanley lifted their price objective on shares of East West Bancorp from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 6th. Finally, Zacks Investment Research raised shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Monday, July 31st. Three research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $62.88.

In related news, Director Jack C. Liu sold 1,123 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 23,669 shares of the company’s stock, valued at approximately $1,396,471. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

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.

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Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

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