Fjarde AP Fonden Fourth Swedish National Pension Fund Invests $2.69 Million in East West Bancorp, Inc. (EWBC)
Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 45,856 shares of the financial services provider’s stock, valued at approximately $2,686,000.
Other large investors have also recently modified their holdings of the company. Strs Ohio purchased a new stake in shares of East West Bancorp during the second quarter worth $110,000. IFP Advisors Inc boosted its stake in East West Bancorp by 126.0% in the second quarter. IFP Advisors Inc now owns 2,857 shares of the financial services provider’s stock valued at $167,000 after buying an additional 1,593 shares during the period. Eagle Global Advisors LLC bought a new stake in East West Bancorp during the second quarter valued at approximately $222,000. Oppenheimer Asset Management Inc. bought a new stake in East West Bancorp during the first quarter valued at approximately $230,000. Finally, Daiwa Securities Group Inc. bought a new stake in East West Bancorp during the second quarter valued at approximately $249,000. Institutional investors own 91.33% of the company’s stock.
East West Bancorp, Inc. (NASDAQ EWBC) opened at 56.06 on Friday. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 16.01 and a beta of 1.43. East West Bancorp, Inc. has a one year low of $35.09 and a one year high of $60.42. The company’s 50-day moving average price is $56.48 and its 200-day moving average price is $55.30.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.81 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.81. East West Bancorp had a return on equity of 13.31% and a net margin of 34.63%. The company had revenue of $337.49 million for the quarter, compared to the consensus estimate of $329.32 million. During the same quarter in the previous year, the business earned $0.71 EPS. On average, analysts anticipate that East West Bancorp, Inc. will post $3.74 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, July 28th. East West Bancorp’s dividend payout ratio is presently 22.92%.
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Several equities research analysts have recently commented on EWBC shares. Deutsche Bank AG cut East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 price target for the company. in a research note on Friday, July 14th. Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research note on Thursday. BidaskClub cut East West Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods restated a “hold” rating and set a $57.00 price target on shares of East West Bancorp in a research note on Friday, June 23rd. Finally, BMO Capital Markets cut East West Bancorp from an “outperform” rating to a “market perform” rating and set a $63.00 price target for the company. in a research note on Friday, July 7th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $62.75.
In other news, Director Jack C. Liu sold 1,123 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $59.00, for a total value of $66,257.00. Following the sale, the director now owns 23,669 shares of the company’s stock, valued at approximately $1,396,471. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is currently owned by insiders.
East West Bancorp Company Profile
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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