191,615 Shares in East West Bancorp, Inc. $EWBC Purchased by William Blair Investment Management LLC

William Blair Investment Management LLC bought a new position in East West Bancorp, Inc. (NASDAQ:EWBC) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 191,615 shares of the financial services provider’s stock, valued at approximately $24,736,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of East West Bancorp during the second quarter valued at about $1,744,958,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of East West Bancorp by 84,090.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider’s stock valued at $596,967,000 after acquiring an additional 5,305,257 shares during the period. Norges Bank bought a new position in shares of East West Bancorp in the fourth quarter valued at approximately $199,529,000. Price T Rowe Associates Inc. MD grew its stake in East West Bancorp by 281.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,607,314 shares of the financial services provider’s stock valued at $180,647,000 after acquiring an additional 1,185,781 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in East West Bancorp during the second quarter valued at approximately $130,744,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Price Performance

EWBC opened at $129.97 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $17.81 billion, a P/E ratio of 12.50, a PEG ratio of 1.51 and a beta of 0.94. The stock has a 50-day moving average price of $131.37 and a 200-day moving average price of $121.97. East West Bancorp, Inc. has a 12-month low of $92.67 and a 12-month high of $137.47.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.02. The company had revenue of $789.98 million for the quarter, compared to analysts’ expectations of $784.47 million. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.East West Bancorp’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted $2.24 EPS. Equities analysts predict that East West Bancorp, Inc. will post 10.61 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Monday, August 3rd. East West Bancorp’s dividend payout ratio (DPR) is presently 30.77%.

Insiders Place Their Bets

In other East West Bancorp news, insider Irene H. Oh sold 11,211 shares of East West Bancorp stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $129.00, for a total transaction of $1,446,219.00. Following the transaction, the insider directly owned 85,998 shares of the company’s stock, valued at approximately $11,093,742. This trade represents a 11.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack C. Liu sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $135.02, for a total transaction of $135,020.00. Following the completion of the sale, the director owned 13,709 shares of the company’s stock, valued at approximately $1,850,989.18. The trade was a 6.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 33,511 shares of company stock valued at $4,312,741. 0.94% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EWBC. Wall Street Zen raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Citigroup restated a “buy” rating on shares of East West Bancorp in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of East West Bancorp in a report on Friday, July 10th. Stephens increased their price objective on East West Bancorp from $129.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Finally, Truist Financial lifted their price objective on East West Bancorp from $128.00 to $136.00 and gave the company a “hold” rating in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $141.92.

East West Bancorp Company Profile

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.