East West Bancorp, Inc. (NASDAQ:EWBC) Holdings Lifted by Scientech Research LLC

Scientech Research LLC grew its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 362.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,095 shares of the financial services provider’s stock after purchasing an additional 16,533 shares during the period. Scientech Research LLC’s holdings in East West Bancorp were worth $1,545,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of EWBC. Capital Research Global Investors bought a new position in East West Bancorp in the 1st quarter worth about $338,142,000. Jupiter Asset Management Ltd. bought a new position in East West Bancorp in the 2nd quarter worth about $59,460,000. Lord Abbett & CO. LLC grew its position in East West Bancorp by 112.5% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,441,198 shares of the financial services provider’s stock worth $114,013,000 after purchasing an additional 762,958 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of East West Bancorp by 82.2% in the first quarter. Jennison Associates LLC now owns 1,687,555 shares of the financial services provider’s stock valued at $133,502,000 after acquiring an additional 761,347 shares in the last quarter. Finally, Miller Howard Investments Inc. NY bought a new position in shares of East West Bancorp in the first quarter valued at approximately $39,347,000. Institutional investors own 89.53% of the company’s stock.

Insider Activity at East West Bancorp

In other East West Bancorp news, EVP Gary Teo sold 3,450 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.73, for a total value of $302,668.50. Following the completion of the sale, the executive vice president now owns 15,875 shares in the company, valued at approximately $1,392,713.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other East West Bancorp news, EVP Gary Teo sold 3,450 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.73, for a total value of $302,668.50. Following the completion of the sale, the executive vice president now owns 15,875 shares in the company, valued at approximately $1,392,713.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rudolph Estrada sold 1,896 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.77, for a total transaction of $166,411.92. Following the transaction, the director now owns 18,470 shares in the company, valued at approximately $1,621,111.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,346 shares of company stock worth $1,108,160. 1.04% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. DA Davidson increased their price objective on shares of East West Bancorp from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Truist Financial decreased their price objective on shares of East West Bancorp from $96.00 to $93.00 and set a “buy” rating for the company in a report on Friday, September 20th. Barclays decreased their price objective on shares of East West Bancorp from $106.00 to $105.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Finally, Stephens increased their price objective on shares of East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, East West Bancorp has an average rating of “Moderate Buy” and an average price target of $89.33.

East West Bancorp Stock Up 1.6 %

Shares of NASDAQ:EWBC opened at $81.21 on Friday. 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 company has a market cap of $11.30 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 2.80 and a beta of 1.29. East West Bancorp, Inc. has a 52 week low of $49.59 and a 52 week high of $89.75. The firm has a 50 day simple moving average of $81.44 and a 200 day simple moving average of $76.98.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 EPS for the quarter, beating the consensus estimate of $1.97 by $0.10. The business 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 quarter in the prior year, the firm earned $2.20 EPS. As a group, research analysts expect that East West Bancorp, Inc. will post 8.17 earnings per share for the current year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were given a $0.55 dividend. The ex-dividend date was Friday, August 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.71%. East West Bancorp’s dividend payout ratio (DPR) is presently 27.71%.

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.