Great West Life Assurance Co. Can increased its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 35.9% during the second quarter, Holdings Channel reports. The firm owned 136,050 shares of the financial services provider’s stock after buying an additional 35,974 shares during the period. Great West Life Assurance Co. Can’s holdings in East West Bancorp were worth $7,962,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Eagle Global Advisors LLC bought a new position in East West Bancorp during the second quarter valued at about $222,000. Janney Montgomery Scott LLC boosted its position in East West Bancorp by 14.0% in the second quarter. Janney Montgomery Scott LLC now owns 144,937 shares of the financial services provider’s stock valued at $8,490,000 after buying an additional 17,746 shares during the period. Ferguson Wellman Capital Management Inc. boosted its position in East West Bancorp by 0.3% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 385,588 shares of the financial services provider’s stock valued at $22,588,000 after buying an additional 1,230 shares during the period. Strs Ohio bought a new position in East West Bancorp during the second quarter valued at about $110,000. Finally, Moody Lynn & Lieberson LLC bought a new position in East West Bancorp during the second quarter valued at about $2,147,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

Shares of East West Bancorp, Inc. (NASDAQ EWBC) opened at 55.01 on Friday. The company has a market capitalization of $7.95 billion, a PE ratio of 15.71 and a beta of 1.41. East West Bancorp, Inc. has a one year low of $34.02 and a one year high of $60.42. The company’s 50-day moving average is $57.72 and its 200-day moving average is $54.94.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.81. The business had revenue of $337.49 million during the quarter, compared to the consensus estimate of $329.32 million. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. During the same period in the previous year, the firm posted $0.71 earnings per share. Equities analysts predict 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 will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, July 28th. East West Bancorp’s dividend payout ratio is currently 22.92%.

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Several research analysts have recently issued reports on the stock. BidaskClub cut shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Monday, July 31st. Wedbush restated an “outperform” rating and set a $68.00 target price on shares of East West Bancorp in a report on Thursday, July 20th. Deutsche Bank AG cut shares of East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 target price for the company. in a report on Friday, July 14th. Finally, BMO Capital Markets cut shares of East West Bancorp from an “outperform” rating to a “market perform” rating and set a $63.00 target price for the company. in a report on Friday, July 7th. 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’s stock. East West Bancorp has an average rating of “Hold” and an average price target of $62.88.

In related news, Director Jack C. Liu sold 1,123 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were 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 owns 23,669 shares in the company, valued at $1,396,471. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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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Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

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