Northwestern Mutual Wealth Management Co. Invests $907,000 in East West Bancorp, Inc. $EWBC

Northwestern Mutual Wealth Management Co. purchased a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,023 shares of the financial services provider’s stock, valued at approximately $907,000.

Several other institutional investors also recently modified their holdings of EWBC. Atlantic Union Bankshares Corp purchased a new position in East West Bancorp in the 4th quarter worth about $31,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of East West Bancorp during the 2nd quarter valued at about $37,000. Kelleher Financial Advisors bought a new stake in shares of East West Bancorp in the third quarter worth approximately $31,000. Danske Bank A S bought a new stake in shares of East West Bancorp in the second quarter worth approximately $39,000. Finally, Wilmington Savings Fund Society FSB raised its holdings in shares of East West Bancorp by 44.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 113 shares during the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Price Performance

NASDAQ EWBC opened at $129.43 on Wednesday. The company has a 50-day moving average price of $131.30 and a 200-day moving average price of $122.20. East West Bancorp, Inc. has a 52 week low of $92.67 and a 52 week 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 firm has a market capitalization of $17.73 billion, a P/E ratio of 12.45, a PEG ratio of 1.49 and a beta of 0.94.

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

East West Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, August 3rd. East West Bancorp’s dividend payout ratio (DPR) is currently 30.77%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EWBC shares. Truist Financial increased their price objective on shares of East West Bancorp from $128.00 to $136.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Citigroup reaffirmed a “buy” rating on shares of East West Bancorp in a research report on Thursday, July 23rd. Barclays boosted their target price on shares of East West Bancorp from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $152.00 price target on shares of East West Bancorp in a research note on Wednesday, August 19th. Finally, Wall Street Zen raised East West Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, East West Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $141.92.

Insider Transactions at East West Bancorp

In other news, Director Jack C. Liu sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were 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 $1,850,989.18. The trade was a 6.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Irene H. Oh sold 11,211 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $129.00, for a total transaction of $1,446,219.00. Following the sale, the insider directly owned 85,998 shares of the company’s stock, valued at approximately $11,093,742. The trade was a 11.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,511 shares of company stock worth $3,077,741 in the last 90 days. 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.