Paragon Capital Management Ltd purchased a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,023 shares of the financial services provider’s stock, valued at approximately $265,000.
A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew 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 buying an additional 86,848 shares during the last quarter. BlackRock Inc. grew its stake in shares of East West Bancorp by 1.0% in the 1st quarter. BlackRock Inc. now owns 13,149,984 shares of the financial services provider’s stock valued at $729,824,000 after purchasing an additional 128,474 shares during the last quarter. FMR LLC grew its position in East West Bancorp by 28.0% in the 1st quarter. FMR LLC now owns 7,243,222 shares of the financial services provider’s stock valued at $401,999,000 after buying an additional 1,584,558 shares during the last quarter. State Street Corp grew its position in East West Bancorp by 15.0% in the 1st quarter. State Street Corp now owns 5,793,739 shares of the financial services provider’s stock valued at $321,553,000 after buying an additional 756,930 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position in East West Bancorp by 28.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,997,099 shares of the financial services provider’s stock valued at $197,509,000 after buying an additional 667,316 shares during the last quarter. 87.11% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
EWBC has been the topic of several analyst reports. Truist Financial lowered their target price on shares of East West Bancorp from $64.00 to $62.00 in a report on Thursday, June 29th. Wedbush lifted their price objective on East West Bancorp from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, July 21st. StockNews.com raised East West Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, September 10th. 92 Resources restated a “maintains” rating on shares of East West Bancorp in a research note on Thursday, June 29th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $56.00 price target on shares of East West Bancorp in a research note on Monday, July 24th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, East West Bancorp presently has a consensus rating of “Hold” and a consensus target price of $68.86.
East West Bancorp Price Performance
EWBC traded down $0.03 during trading on Friday, reaching $54.86. 2,074,951 shares of the stock were exchanged, compared to its average volume of 1,307,457. The business’s 50 day moving average price is $57.07 and its two-hundred day moving average price is $54.80. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $7.76 billion, a price-to-earnings ratio of 6.15, a P/E/G ratio of 0.64 and a beta of 1.45. East West Bancorp, Inc. has a 1 year low of $33.86 and a 1 year high of $80.98.
East West Bancorp (NASDAQ:EWBC – Get Free Report) last posted its earnings results on Thursday, July 20th. The financial services provider reported $2.20 earnings per share for the quarter, meeting the consensus estimate of $2.20. East West Bancorp had a net margin of 37.14% and a return on equity of 20.86%. The firm had revenue of $645.00 million during the quarter, compared to the consensus estimate of $660.49 million. During the same period last year, the firm posted $1.81 EPS. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. As a group, equities research analysts anticipate that East West Bancorp, Inc. will post 8.4 earnings per share for the current year.
East West Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date was Monday, July 31st. East West Bancorp’s payout ratio is currently 21.52%.
Insider Buying and Selling at East West Bancorp
In other news, Director Rudolph Estrada sold 2,411 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $55.96, for a total value of $134,919.56. Following the completion of the transaction, the director now directly owns 18,548 shares of the company’s stock, valued at $1,037,946.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.91% of the stock is owned by insiders.
East West Bancorp Company 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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. It accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.
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