Mutual of America Capital Management LLC Raises Stock Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Mutual of America Capital Management LLC boosted its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 7.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,350 shares of the financial services provider’s stock after buying an additional 7,720 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.08% of East West Bancorp worth $8,594,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in East West Bancorp during the second quarter valued at approximately $717,000. Old West Investment Management LLC purchased a new position in East West Bancorp during the second quarter valued at approximately $3,500,000. Edgestream Partners L.P. purchased a new position in East West Bancorp during the second quarter valued at approximately $4,334,000. Dimensional Fund Advisors LP increased its holdings in East West Bancorp by 7.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,822,886 shares of the financial services provider’s stock valued at $133,480,000 after buying an additional 118,658 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in East West Bancorp by 3.1% during the second quarter. Envestnet Asset Management Inc. now owns 164,835 shares of the financial services provider’s stock valued at $12,071,000 after buying an additional 4,916 shares during the period. 89.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on EWBC shares. Piper Sandler lifted their price target on shares of East West Bancorp from $72.50 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Truist Financial lifted their price target on shares of East West Bancorp from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. DA Davidson lifted their price target on shares of East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Jefferies Financial Group cut their price target on shares of East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Finally, Morgan Stanley lifted their price target on shares of East West Bancorp from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.53.

East West Bancorp Trading Down 0.0 %

NASDAQ EWBC opened at $81.27 on Thursday. The company has a market capitalization of $11.31 billion, a PE ratio of 10.24, a P/E/G ratio of 2.65 and a beta of 1.29. The company has a fifty day moving average of $81.08 and a 200 day moving average of $76.78. East West Bancorp, Inc. has a 1 year low of $49.59 and a 1 year high of $89.75. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.10. The company had revenue of $638.00 million during the quarter, compared to the consensus estimate of $631.61 million. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.20 earnings per share. Research analysts forecast that East West Bancorp, Inc. will post 8.2 earnings per share for the current year.

East West Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.71%. East West Bancorp’s dividend payout ratio is presently 27.71%.

Insiders Place Their Bets

In other East West Bancorp news, Director Rudolph Estrada sold 1,896 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.77, for a total value of $166,411.92. Following the completion of the transaction, the director now owns 18,470 shares in the company, valued at $1,621,111.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other East West Bancorp news, EVP Lisa L. Kim sold 6,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $78.68, for a total value of $472,080.00. Following the completion of the transaction, the executive vice president now owns 18,891 shares in the company, valued at $1,486,343.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Rudolph Estrada sold 1,896 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $87.77, for a total transaction of $166,411.92. Following the completion of the transaction, the director now owns 18,470 shares of the company’s stock, valued at approximately $1,621,111.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,346 shares of company stock worth $1,108,160. Company insiders own 1.04% of the company’s stock.

About East West Bancorp

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 in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.