Seven Eight Capital LP Has $265,000 Stock Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Seven Eight Capital LP reduced its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 5.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,618 shares of the financial services provider’s stock after selling 214 shares during the quarter. Seven Eight Capital LP’s holdings in East West Bancorp were worth $265,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of EWBC. CIBC Asset Management Inc boosted its stake in East West Bancorp by 2.8% during the second quarter. CIBC Asset Management Inc now owns 4,753 shares of the financial services provider’s stock worth $348,000 after buying an additional 128 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of East West Bancorp by 3.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,606 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 133 shares in the last quarter. OLD National Bancorp IN increased its stake in East West Bancorp by 6.4% in the second quarter. OLD National Bancorp IN now owns 2,923 shares of the financial services provider’s stock valued at $214,000 after acquiring an additional 175 shares during the period. Coldstream Capital Management Inc. raised its position in East West Bancorp by 2.0% in the second quarter. Coldstream Capital Management Inc. now owns 9,372 shares of the financial services provider’s stock worth $686,000 after purchasing an additional 184 shares in the last quarter. Finally, Blair William & Co. IL raised its position in East West Bancorp by 5.4% in the first quarter. Blair William & Co. IL now owns 3,691 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 189 shares in the last quarter. 89.53% of the stock is owned by institutional investors.

East West Bancorp Stock Down 0.2 %

NASDAQ:EWBC opened at $82.40 on Tuesday. The company has a market cap of $11.47 billion, a price-to-earnings ratio of 10.38, a P/E/G ratio of 2.65 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. The stock’s fifty day moving average price is $81.45 and its two-hundred day moving average price is $76.92. East West Bancorp, Inc. has a 52-week low of $49.59 and a 52-week high of $89.75.

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

East West Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Friday, August 2nd. East West Bancorp’s dividend payout ratio (DPR) is 27.71%.

Wall Street Analysts Forecast Growth

EWBC has been the topic of several analyst reports. Barclays lowered their price objective on East West Bancorp from $106.00 to $105.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Jefferies Financial Group lowered their price target on East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Wells Fargo & Company lifted their price objective on East West Bancorp from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. DA Davidson upped their target price 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. Finally, Piper Sandler lifted their price target on shares of East West Bancorp from $72.50 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.33.

Insider Activity at East West Bancorp

In related news, 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 value of $166,411.92. Following the completion of the sale, the director now owns 18,470 shares in the company, valued at $1,621,111.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the completion of the sale, the director now owns 16,557 shares in the company, valued at approximately $1,382,509.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Rudolph Estrada sold 1,896 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.77, for a total value of $166,411.92. Following the sale, the director now directly owns 18,470 shares in the company, valued at approximately $1,621,111.90. The disclosure for this sale can be found here. Insiders have sold 13,346 shares of company stock worth $1,108,160 over the last ninety days. Company insiders own 1.04% of the company’s stock.

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