180 Wealth Advisors LLC increased its position in East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) by 30.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 13,889 shares of the financial services provider’s stock after purchasing an additional 3,268 shares during the quarter. 180 Wealth Advisors LLC’s holdings in East West Bancorp were worth $742,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC acquired a new stake in East West Bancorp in the fourth quarter valued at approximately $40,000. Harbor Capital Advisors Inc. acquired a new position in East West Bancorp during the second quarter worth $43,000. Industrial Alliance Investment Management Inc. bought a new position in shares of East West Bancorp in the fourth quarter valued at $53,000. Ellevest Inc. grew its holdings in shares of East West Bancorp by 56.9% during the first quarter. Ellevest Inc. now owns 1,026 shares of the financial services provider’s stock valued at $57,000 after buying an additional 372 shares during the last quarter. Finally, Archer Investment Corp bought a new stake in shares of East West Bancorp during the first quarter worth about $64,000. 87.11% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
EWBC has been the topic of several recent research reports. Truist Financial dropped their price target on shares of East West Bancorp from $64.00 to $62.00 in a research report on Thursday, June 29th. StockNews.com cut East West Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. 92 Resources reissued a “maintains” rating on shares of East West Bancorp in a research report on Thursday, June 29th. Morgan Stanley reaffirmed an “equal weight” rating and set a $56.00 price objective on shares of East West Bancorp in a report on Monday, July 24th. Finally, Wedbush increased their target price on shares of East West Bancorp from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, East West Bancorp presently has an average rating of “Hold” and an average target price of $68.86.
East West Bancorp Trading Down 1.4 %
NASDAQ EWBC opened at $54.11 on Tuesday. The business’s fifty day moving average is $57.05 and its 200-day moving average is $54.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 6.07, a PEG ratio of 0.65 and a beta of 1.45. East West Bancorp, Inc. has a one year low of $33.86 and a one year high of $80.98.
East West Bancorp (NASDAQ:EWBC – Get Free Report) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $2.20 EPS for the quarter, hitting the consensus estimate of $2.20. East West Bancorp had a net margin of 37.14% and a return on equity of 20.86%. The business had revenue of $645.00 million for the quarter, compared to analyst estimates of $660.49 million. During the same quarter in the previous year, the firm posted $1.81 earnings per share. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. Equities research analysts predict that East West Bancorp, Inc. will post 8.4 EPS for the current year.
East West Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.55%. The ex-dividend date was Monday, July 31st. East West Bancorp’s dividend payout ratio (DPR) is 21.52%.
Insiders Place Their Bets
In other news, Director Rudolph Estrada sold 2,411 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $55.96, for a total transaction of $134,919.56. Following the transaction, the director now owns 18,548 shares of the company’s stock, valued at approximately $1,037,946.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.91% of the company’s stock.
East West Bancorp Company Profile
East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. It accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.
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