State of New Jersey Common Pension Fund D held its stake in East West Bancorp, Inc. (NASDAQ:EWBC) during the second quarter, according to its most recent filing with the SEC. The fund owned 100,000 shares of the financial services provider’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in East West Bancorp were worth $5,858,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Rothschild Asset Management Inc. boosted its stake in East West Bancorp by 8.3% in the second quarter. Rothschild Asset Management Inc. now owns 416,262 shares of the financial services provider’s stock valued at $24,385,000 after buying an additional 32,066 shares during the period. Pillar Pacific Capital Management LLC boosted its stake in East West Bancorp by 2.0% in the second quarter. Pillar Pacific Capital Management LLC now owns 61,825 shares of the financial services provider’s stock valued at $3,622,000 after buying an additional 1,200 shares during the period. Great West Life Assurance Co. Can boosted its stake in East West Bancorp by 35.9% in the second quarter. Great West Life Assurance Co. Can now owns 136,050 shares of the financial services provider’s stock valued at $7,962,000 after buying an additional 35,974 shares during the period. Eagle Global Advisors LLC bought a new stake in East West Bancorp during the second quarter valued at approximately $222,000. Finally, Janney Montgomery Scott LLC boosted its stake 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. 88.12% of the stock is owned by institutional investors.

East West Bancorp, Inc. (NASDAQ:EWBC) opened at 55.01 on Friday. The firm has a 50-day moving average of $57.72 and a 200-day moving average of $54.94. East West Bancorp, Inc. has a 52 week low of $34.02 and a 52 week high of $60.42. 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 (NASDAQ:EWBC) last posted its 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. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. The firm had revenue of $337.49 million for the quarter, compared to analyst estimates of $329.32 million. During the same period in the previous year, the firm posted $0.71 EPS. Equities analysts expect that East West Bancorp, Inc. will post $3.74 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders 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 is Friday, July 28th. East West Bancorp’s payout ratio is 22.92%.

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Several analysts have recently commented on the stock. Piper Jaffray Companies set a $68.00 price target on shares of East West Bancorp and gave the company a “buy” rating in a research note on Saturday, June 17th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $57.00 price target on shares of East West Bancorp in a research note on Monday, May 22nd. Zacks Investment Research cut shares of East West Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Wedbush reissued an “outperform” rating and set a $68.00 price target on shares of East West Bancorp in a research note on Tuesday, June 27th. Finally, Morgan Stanley increased their price target on shares of East West Bancorp from $57.00 to $59.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 6th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $62.88.

In other East West Bancorp 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.

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

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