Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 30.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,802 shares of the financial services provider’s stock after selling 20,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in East West Bancorp were worth $2,282,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. IFM Investors Pty Ltd boosted its position in shares of East West Bancorp by 66.0% in the second quarter. IFM Investors Pty Ltd now owns 11,611 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 4,616 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of East West Bancorp by 0.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 74,893 shares of the financial services provider’s stock valued at $3,503,000 after acquiring an additional 629 shares during the period. YHB Investment Advisors Inc. boosted its position in shares of East West Bancorp by 1.4% in the second quarter. YHB Investment Advisors Inc. now owns 40,853 shares of the financial services provider’s stock valued at $1,911,000 after acquiring an additional 559 shares during the period. Handelsbanken Fonder AB boosted its position in shares of East West Bancorp by 10.2% in the second quarter. Handelsbanken Fonder AB now owns 2,663,951 shares of the financial services provider’s stock valued at $124,593,000 after acquiring an additional 246,578 shares during the period. Finally, Denali Advisors LLC bought a new position in shares of East West Bancorp in the second quarter valued at approximately $1,515,000. Hedge funds and other institutional investors own 89.04% of the company’s stock.
A number of equities analysts have recently commented on the stock. Wedbush restated a “buy” rating and issued a $35.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Monday, June 3rd. Zacks Investment Research upgraded shares of Booz Allen Hamilton from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Friday, June 28th. BidaskClub lowered shares of YY from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Morgan Stanley upgraded shares of Dongfeng Motor Group from an “equal weight” rating to an “overweight” rating in a research report on Monday, July 1st. Finally, Raymond James lowered shares of First Midwest Bancorp to a “hold” rating in a research report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. East West Bancorp currently has a consensus rating of “Buy” and an average price target of $61.33.
Shares of EWBC stock traded up $1.01 during trading hours on Tuesday, reaching $47.48. The stock had a trading volume of 32,954 shares, compared to its average volume of 969,598. The stock has a fifty day simple moving average of $45.43. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.19. East West Bancorp, Inc. has a 12 month low of $40.05 and a 12 month high of $66.99. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 1.02 and a beta of 1.62.
East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.24. The business had revenue of $420.09 million for the quarter, compared to the consensus estimate of $416.35 million. East West Bancorp had a net margin of 32.92% and a return on equity of 15.42%. During the same period last year, the firm posted $1.18 earnings per share. As a group, equities analysts expect that East West Bancorp, Inc. will post 4.91 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Wednesday, July 31st. East West Bancorp’s dividend payout ratio is currently 23.61%.
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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.
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