Strategic Global Advisors LLC Makes New Investment in East West Bancorp, Inc. $EWBC

Strategic Global Advisors LLC bought a new position in East West Bancorp, Inc. (NASDAQ:EWBC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 39,744 shares of the financial services provider’s stock, valued at approximately $5,131,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of East West Bancorp during the second quarter valued at approximately $1,744,958,000. Northwestern Mutual Wealth Management Co. lifted its position in East West Bancorp by 84,090.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider’s stock valued at $596,967,000 after acquiring an additional 5,305,257 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in East West Bancorp by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,981,065 shares of the financial services provider’s stock valued at $559,822,000 after acquiring an additional 106,998 shares in the last quarter. First Trust Advisors LP boosted its stake in East West Bancorp by 7.1% during the 4th quarter. First Trust Advisors LP now owns 4,620,772 shares of the financial services provider’s stock valued at $519,329,000 after purchasing an additional 306,916 shares during the last quarter. Finally, Boston Partners boosted its stake in East West Bancorp by 19.6% during the 3rd quarter. Boston Partners now owns 3,874,737 shares of the financial services provider’s stock valued at $412,464,000 after purchasing an additional 633,649 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Trading Up 0.8%

NASDAQ:EWBC opened at $130.43 on Thursday. The company has a market cap of $17.87 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 1.50 and a beta of 0.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.33. The company has a 50 day simple moving average of $131.37 and a two-hundred day simple moving average of $122.29. East West Bancorp, Inc. has a 12 month low of $92.67 and a 12 month high of $137.47.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.02. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The firm had revenue of $789.98 million for the quarter, compared to analysts’ expectations of $784.47 million. During the same period in the prior year, the firm earned $2.24 EPS. The company’s revenue was up 12.5% compared to the same quarter last year. Research analysts forecast that East West Bancorp, Inc. will post 10.61 earnings per share for the current year.

East West Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were issued a $0.80 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. East West Bancorp’s dividend payout ratio is currently 30.77%.

Analyst Ratings Changes

Several research firms have recently weighed in on EWBC. DA Davidson boosted their price target on East West Bancorp from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $152.00 price objective on shares of East West Bancorp in a research report on Wednesday, August 19th. Citigroup reaffirmed a “buy” rating on shares of East West Bancorp in a research report on Thursday, July 23rd. Morgan Stanley lifted their price objective on East West Bancorp from $128.00 to $131.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Finally, Barclays boosted their target price on East West Bancorp from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $141.92.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, insider Irene H. Oh sold 11,211 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $129.00, for a total value of $1,446,219.00. Following the transaction, the insider directly owned 85,998 shares of the company’s stock, valued at approximately $11,093,742. This trade represents a 11.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $135.02, for a total value of $135,020.00. Following the sale, the director owned 13,709 shares of the company’s stock, valued at approximately $1,850,989.18. This represents a 6.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 23,511 shares of company stock valued at $3,077,741. 0.94% of the stock is owned by company insiders.

East West Bancorp Profile

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.