Victory Capital Management Inc. Sells 5,046 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Victory Capital Management Inc. reduced its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBCGet Rating) by 1.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 353,675 shares of the financial services provider’s stock after selling 5,046 shares during the quarter. Victory Capital Management Inc. owned approximately 0.25% of East West Bancorp worth $26,528,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Asset Dedication LLC bought a new position in shares of East West Bancorp during the 1st quarter worth approximately $113,000. Whittier Trust Co. of Nevada Inc. boosted its stake in East West Bancorp by 13.1% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 48,478 shares of the financial services provider’s stock valued at $3,831,000 after purchasing an additional 5,600 shares during the period. GSA Capital Partners LLP acquired a new position in East West Bancorp in the 4th quarter valued at $415,000. Raymond James Financial Services Advisors Inc. raised its holdings in East West Bancorp by 52.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 27,230 shares of the financial services provider’s stock valued at $2,143,000 after acquiring an additional 9,322 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in East West Bancorp in the 4th quarter valued at $3,828,000. 89.44% of the stock is currently owned by institutional investors.

East West Bancorp Price Performance

Shares of EWBC opened at $70.70 on Thursday. East West Bancorp, Inc. has a 12-month low of $61.65 and a 12-month high of $93.51. The business has a 50-day simple moving average of $68.37 and a two-hundred day simple moving average of $75.94. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.06. The stock has a market cap of $10.06 billion, a PE ratio of 10.78, a PEG ratio of 0.92 and a beta of 1.53.

East West Bancorp (NASDAQ:EWBCGet Rating) last announced its earnings results on Thursday, July 21st. The financial services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.68 by $0.13. East West Bancorp had a return on equity of 16.45% and a net margin of 45.32%. The company had revenue of $551.00 million for the quarter, compared to analyst estimates of $525.37 million. During the same quarter in the prior year, the company earned $1.57 EPS. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. Analysts anticipate that East West Bancorp, Inc. will post 7.79 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, August 1st will be given a dividend of $0.40 per share. The ex-dividend date is Friday, July 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. East West Bancorp’s payout ratio is 24.39%.

Analyst Ratings Changes

EWBC has been the subject of several analyst reports. Jefferies Financial Group dropped their price objective on East West Bancorp from $102.00 to $79.00 in a report on Monday, July 11th. Wells Fargo & Company lifted their price objective on East West Bancorp from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, April 22nd. Piper Sandler boosted their price target on East West Bancorp to $74.00 in a report on Monday, July 25th. Truist Financial lowered their price target on East West Bancorp from $100.00 to $80.00 in a report on Wednesday, June 15th. Finally, Wedbush boosted their price target on East West Bancorp to $80.00 in a report on Friday, July 22nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, East West Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $88.63.

East West Bancorp Profile

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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. It operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. The company accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.

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Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

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