EverSource Wealth Advisors LLC Acquires 417 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

EverSource Wealth Advisors LLC lifted its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBCGet Rating) by 868.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 465 shares of the financial services provider’s stock after purchasing an additional 417 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in East West Bancorp were worth $37,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of East West Bancorp by 0.6% during the first quarter. Vanguard Group Inc. now owns 13,803,992 shares of the financial services provider’s stock worth $1,090,792,000 after purchasing an additional 86,848 shares during the period. BlackRock Inc. increased its holdings in shares of East West Bancorp by 1.1% during the first quarter. BlackRock Inc. now owns 12,568,773 shares of the financial services provider’s stock worth $993,183,000 after purchasing an additional 136,944 shares during the period. Boston Partners increased its holdings in shares of East West Bancorp by 3.7% during the first quarter. Boston Partners now owns 5,054,415 shares of the financial services provider’s stock worth $399,362,000 after purchasing an additional 179,461 shares during the period. CI Investments Inc. increased its holdings in shares of East West Bancorp by 17.2% during the first quarter. CI Investments Inc. now owns 3,026,104 shares of the financial services provider’s stock worth $239,123,000 after purchasing an additional 443,457 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of East West Bancorp by 95.3% during the first quarter. JPMorgan Chase & Co. now owns 2,273,736 shares of the financial services provider’s stock worth $179,670,000 after purchasing an additional 1,109,530 shares during the period. 89.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Wedbush raised their target price on shares of East West Bancorp to $80.00 in a report on Friday, July 22nd. Truist Financial lifted their price objective on shares of East West Bancorp from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, September 14th. Jefferies Financial Group decreased their price objective on shares of East West Bancorp from $102.00 to $79.00 in a research note on Monday, July 11th. Finally, Piper Sandler lifted their price objective on shares of East West Bancorp to $74.00 in a research note on Monday, July 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.17.

East West Bancorp Stock Performance

NASDAQ EWBC opened at $72.67 on Monday. The firm’s fifty day moving average price is $71.92 and its two-hundred day moving average price is $72.70. The stock has a market cap of $10.24 billion, a PE ratio of 11.08, a PEG ratio of 0.93 and a beta of 1.50. East West Bancorp, Inc. has a fifty-two week low of $61.65 and a fifty-two week high of $93.51. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.89 and a current ratio of 0.89.

East West Bancorp (NASDAQ:EWBCGet Rating) last posted its earnings results on Thursday, July 21st. The financial services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.13. The firm had revenue of $551.00 million for the quarter, compared to analysts’ expectations of $525.37 million. East West Bancorp had a net margin of 45.32% and a return on equity of 16.45%. The company’s revenue was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.57 earnings per share. On average, equities analysts expect that East West Bancorp, Inc. will post 7.79 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Monday, August 1st were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, July 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. East West Bancorp’s payout ratio is presently 24.39%.

East West Bancorp Company Profile

(Get Rating)

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.

See Also

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

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