East West Bancorp, Inc. (EWBC) Shares Bought by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. boosted its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 4.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 580,977 shares of the financial services provider’s stock after buying an additional 23,575 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.40% of East West Bancorp worth $34,034,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Strs Ohio bought a new stake in East West Bancorp in the 2nd quarter valued at about $110,000. IFP Advisors Inc increased its position in East West Bancorp by 126.0% in the 2nd 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 in the last quarter. Eagle Global Advisors LLC bought a new stake in East West Bancorp in the 2nd quarter valued at about $222,000. Daiwa Securities Group Inc. bought a new stake in East West Bancorp in the 2nd quarter valued at about $249,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in East West Bancorp in the 1st quarter valued at about $230,000. 91.34% of the stock is owned by institutional investors and hedge funds.
Shares of East West Bancorp, Inc. (NASDAQ EWBC) opened at 56.60 on Wednesday. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 16.17 and a beta of 1.43. The firm’s 50-day moving average price is $56.01 and its 200-day moving average price is $55.31. East West Bancorp, Inc. has a one year low of $35.33 and a one year high of $60.42.
East West Bancorp (NASDAQ:EWBC) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. The firm had revenue of $337.49 million during the quarter, compared to analyst estimates of $329.32 million. During the same period last year, the business earned $0.71 earnings per share. Analysts anticipate that East West Bancorp, Inc. will post $3.74 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. East West Bancorp’s payout ratio is 22.92%.
EWBC has been the subject of a number of research analyst reports. Piper Jaffray Companies set a $68.00 target price on East West Bancorp and gave the company a “buy” rating in a research report on Saturday, June 17th. BidaskClub raised East West Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Tuesday, June 6th. Morgan Stanley reissued an “equal weight” rating and set a $60.00 price objective (up from $59.00) on shares of East West Bancorp in a report on Thursday, July 6th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $57.00 price objective on shares of East West Bancorp in a report on Monday, May 22nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.63.
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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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