Meeder Advisory Services Inc. Invests $818,000 in East West Bancorp, Inc. $EWBC

Meeder Advisory Services Inc. bought a new stake in East West Bancorp, Inc. (NASDAQ:EWBC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,334 shares of the financial services provider’s stock, valued at approximately $818,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EWBC. BlackRock Inc. bought a new position in East West Bancorp in the second quarter worth approximately $1,744,958,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of East West Bancorp by 84,090.3% during the fourth 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. increased its holdings in shares of East West Bancorp by 2.2% during the fourth 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 raised its position in shares of East West Bancorp by 7.1% during the fourth quarter. First Trust Advisors LP now owns 4,620,772 shares of the financial services provider’s stock worth $519,329,000 after purchasing an additional 306,916 shares during the period. Finally, Boston Partners raised its position in shares of East West Bancorp by 19.6% during the third quarter. Boston Partners now owns 3,874,737 shares of the financial services provider’s stock worth $412,464,000 after purchasing an additional 633,649 shares during the period. 89.53% of the stock is owned by institutional investors.

East West Bancorp Stock Down 3.5%

EWBC stock opened at $130.40 on Thursday. East West Bancorp, Inc. has a twelve month low of $92.67 and a twelve month high of $137.47. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average is $131.43 and its 200-day moving average is $121.80. The firm has a market capitalization of $17.87 billion, a PE ratio of 12.54, a P/E/G ratio of 1.56 and a beta of 0.94.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) 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 company had revenue of $789.98 million for the quarter, compared to analysts’ expectations of $784.47 million. During the same quarter in the previous year, the firm earned $2.24 earnings per share. East West Bancorp’s quarterly revenue was up 12.5% on a year-over-year basis. Sell-side analysts expect that East West Bancorp, Inc. will post 10.61 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently issued reports on EWBC. Barclays increased their target price on East West Bancorp from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Wells Fargo & Company started coverage on shares of East West Bancorp in a report on Monday, August 10th. They set an “overweight” rating and a $155.00 price objective on the stock. Wall Street Zen raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Citigroup reiterated a “buy” rating on shares of East West Bancorp in a report on Thursday, July 23rd. Finally, Morgan Stanley boosted their target price on shares of East West Bancorp from $128.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $141.92.

Insiders Place Their Bets

In other news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $123.50, for a total value of $1,235,000.00. Following the completion of the sale, the insider owned 46,974 shares in the company, valued at $5,801,289. This represents a 17.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jack C. Liu sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $135.02, for a total transaction of $135,020.00. Following the completion of the sale, the director owned 13,709 shares of the company’s stock, valued at approximately $1,850,989.18. The trade was a 6.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 33,511 shares of company stock valued at $4,312,741 in the last three months. 0.94% of the stock is currently owned by 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.