Gideon Capital Advisors Inc. lifted its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 54.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,930 shares of the financial services provider’s stock after buying an additional 2,452 shares during the period. Gideon Capital Advisors Inc.’s holdings in East West Bancorp were worth $452,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new stake in shares of East West Bancorp during the second quarter valued at $131,000. Atria Investments LLC purchased a new stake in shares of East West Bancorp during the second quarter valued at $206,000. Raymond James Trust N.A. purchased a new stake in shares of East West Bancorp during the second quarter valued at $220,000. Delpha Capital Management LLC purchased a new stake in shares of East West Bancorp during the first quarter valued at $222,000. Finally, IFM Investors Pty Ltd purchased a new stake in shares of East West Bancorp during the second quarter valued at $283,000. 89.75% of the stock is currently owned by institutional investors.
In other news, CEO Dominic Ng sold 5,771 shares of East West Bancorp stock in a transaction dated Tuesday, May 29th. The stock was sold at an average price of $69.27, for a total transaction of $399,757.17. Following the transaction, the chief executive officer now directly owns 471,919 shares of the company’s stock, valued at approximately $32,689,829.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Douglas Paul Krause sold 5,000 shares of East West Bancorp stock in a transaction dated Thursday, May 31st. The shares were sold at an average price of $69.65, for a total value of $348,250.00. Following the transaction, the insider now directly owns 19,919 shares in the company, valued at $1,387,358.35. The disclosure for this sale can be found here. Insiders sold 91,146 shares of company stock worth $6,459,916 over the last three months. Insiders own 0.68% of the company’s stock.
Shares of NASDAQ:EWBC opened at $64.60 on Friday. The stock has a market capitalization of $9.31 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 1.33 and a beta of 1.37. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. East West Bancorp, Inc. has a 52-week low of $52.86 and a 52-week high of $73.98.
East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, July 19th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.09. The business had revenue of $389.95 million for the quarter, compared to analysts’ expectations of $382.70 million. East West Bancorp had a return on equity of 15.12% and a net margin of 34.15%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the firm posted $0.81 earnings per share. equities analysts anticipate that East West Bancorp, Inc. will post 4.61 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Wednesday, August 1st were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.42%. This is a boost from East West Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, July 31st. East West Bancorp’s dividend payout ratio (DPR) is presently 26.59%.
Several research firms recently commented on EWBC. BidaskClub raised East West Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 8th. ValuEngine cut East West Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, June 11th. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Wednesday, June 20th. Deutsche Bank increased their price objective on East West Bancorp from $74.00 to $76.00 and gave the company a “hold” rating in a research report on Friday, May 4th. Finally, Morgan Stanley increased their price objective on East West Bancorp from $70.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. East West Bancorp currently has a consensus rating of “Hold” and a consensus price target of $71.77.
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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.
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