Bradley Foster & Sargent Inc. CT Purchases 5,206 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Bradley Foster & Sargent Inc. CT grew its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 29.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,893 shares of the financial services provider’s stock after buying an additional 5,206 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in East West Bancorp were worth $1,676,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors bought a new position in shares of East West Bancorp in the first quarter worth $338,142,000. Norges Bank bought a new position in shares of East West Bancorp in the fourth quarter worth $115,369,000. Westfield Capital Management Co. LP bought a new position in shares of East West Bancorp in the fourth quarter worth $67,692,000. Jupiter Asset Management Ltd. bought a new position in shares of East West Bancorp in the second quarter worth $59,460,000. Finally, Lord Abbett & CO. LLC increased its position in shares of East West Bancorp by 112.5% in the first 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 period. Institutional investors own 89.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EWBC. Piper Sandler raised their price target on East West Bancorp from $72.50 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. DA Davidson raised their price target on East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Jefferies Financial Group reduced their price objective on East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. StockNews.com raised East West Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Stephens raised their price objective on East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.53.

East West Bancorp Stock Performance

Shares of EWBC stock opened at $81.27 on Thursday. The business’s 50-day moving average price is $81.08 and its 200-day moving average price is $76.78. East West Bancorp, Inc. has a 12 month low of $49.59 and a 12 month high of $89.75. The firm has a market capitalization of $11.31 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 2.65 and a beta of 1.29. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

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

East West Bancorp Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Gary Teo sold 3,450 shares of East West Bancorp stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.73, for a total value of $302,668.50. Following the transaction, the executive vice president now directly owns 15,875 shares of the company’s stock, valued at $1,392,713.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other East West Bancorp news, EVP Gary Teo sold 3,450 shares of East West Bancorp stock in a transaction that occurred on Friday, July 26th. The stock was 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 directly owns 15,875 shares in the company, valued at $1,392,713.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction that occurred on Friday, August 23rd. The stock was 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 of the company’s stock, valued at $1,382,509.50. The disclosure for this sale can be found here. Insiders have sold a total of 13,346 shares of company stock valued at $1,108,160 over the last ninety days. 1.04% of the stock is owned by company insiders.

East West Bancorp 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.