East West Bancorp, Inc. (NASDAQ:EWBC) Shares Acquired by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. increased its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,310 shares of the financial services provider’s stock after buying an additional 737 shares during the period. Capital Group Private Client Services Inc.’s holdings in East West Bancorp were worth $3,901,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Blair William & Co. IL grew its position in shares of East West Bancorp by 5.4% during the first quarter. Blair William & Co. IL now owns 3,691 shares of the financial services provider’s stock worth $292,000 after buying an additional 189 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in East West Bancorp by 29.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 840 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 190 shares during the period. Denali Advisors LLC lifted its holdings in East West Bancorp by 66.7% in the fourth quarter. Denali Advisors LLC now owns 500 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 200 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in East West Bancorp by 39.6% during the fourth quarter. First Horizon Advisors Inc. now owns 747 shares of the financial services provider’s stock valued at $54,000 after buying an additional 212 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in East West Bancorp by 52.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 666 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 230 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

East West Bancorp Stock Performance

NASDAQ EWBC traded up $0.96 during midday trading on Friday, hitting $87.97. The company had a trading volume of 862,481 shares, compared to its average volume of 1,045,881. The company has a quick ratio of 0.93, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a market cap of $12.24 billion, a price-to-earnings ratio of 10.96, a P/E/G ratio of 5.07 and a beta of 1.32. The firm has a fifty day simple moving average of $74.31 and a two-hundred day simple moving average of $74.21. East West Bancorp, Inc. has a fifty-two week low of $49.59 and a fifty-two week high of $88.51.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.10. The company had revenue of $638.00 million for the quarter, compared to analyst estimates of $631.61 million. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the business posted $2.20 EPS. Equities analysts forecast that East West Bancorp, Inc. will post 8.05 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 2nd will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, August 2nd. East West Bancorp’s payout ratio is 27.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EWBC. Jefferies Financial Group cut their target price on East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Barclays decreased their target price on shares of East West Bancorp from $106.00 to $105.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Truist Financial boosted their price target on shares of East West Bancorp from $80.00 to $96.00 and gave the company a “buy” rating in a report on Thursday. DA Davidson raised their price objective on shares of East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Stephens upped their price target on East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.60.

Insider Transactions at East West Bancorp

In other news, Vice Chairman Douglas Paul Krause sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $73.76, for a total transaction of $590,080.00. Following the completion of the transaction, the insider now directly owns 57,403 shares of the company’s stock, valued at approximately $4,234,045.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Irene H. Oh sold 10,000 shares of East West Bancorp stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total transaction of $775,800.00. Following the completion of the transaction, the insider now directly owns 127,193 shares of the company’s stock, valued at approximately $9,867,632.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Douglas Paul Krause sold 8,000 shares of East West Bancorp stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $73.76, for a total transaction of $590,080.00. Following the transaction, the insider now directly owns 57,403 shares of the company’s stock, valued at $4,234,045.28. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

East West Bancorp 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 in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.