55,144 Shares in East West Bancorp, Inc. (NASDAQ:EWBC) Acquired by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in East West Bancorp, Inc. (NASDAQ:EWBC) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 55,144 shares of the financial services provider’s stock, valued at approximately $4,038,000.

Several other institutional investors also recently bought and sold shares of EWBC. Capital International Investors grew its position in shares of East West Bancorp by 1.4% in the fourth quarter. Capital International Investors now owns 11,582,254 shares of the financial services provider’s stock valued at $833,469,000 after purchasing an additional 159,963 shares during the period. Capital Research Global Investors purchased a new stake in East West Bancorp in the 1st quarter valued at about $338,142,000. Schroder Investment Management Group increased its stake in shares of East West Bancorp by 3.0% during the 4th quarter. Schroder Investment Management Group now owns 2,462,062 shares of the financial services provider’s stock valued at $177,145,000 after acquiring an additional 72,746 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of East West Bancorp by 16.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,993,953 shares of the financial services provider’s stock worth $157,742,000 after acquiring an additional 280,680 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of East West Bancorp by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,822,886 shares of the financial services provider’s stock worth $133,480,000 after acquiring an additional 118,658 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at East West Bancorp

In related news, Director Rudolph Estrada sold 1,896 shares of the 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 transaction, the director now owns 18,470 shares of the company’s stock, valued at $1,621,111.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other East West Bancorp news, Director Rudolph Estrada sold 1,896 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.77, for a total transaction of $166,411.92. Following the transaction, the director now directly owns 18,470 shares in the company, valued at approximately $1,621,111.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa L. Kim sold 6,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $78.68, for a total transaction of $472,080.00. Following the transaction, the executive vice president now directly owns 18,891 shares of the company’s stock, valued at $1,486,343.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,346 shares of company stock valued at $1,108,160. 1.04% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Piper Sandler upped their price target on shares of East West Bancorp from $72.50 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. StockNews.com raised East West Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Morgan Stanley lifted their target price on East West Bancorp from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, August 5th. DA Davidson upped their price target on East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Wedbush lifted their price objective on East West Bancorp from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, East West Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $89.33.

East West Bancorp Stock Down 0.8 %

NASDAQ EWBC opened at $82.57 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. East West Bancorp, Inc. has a fifty-two week low of $49.59 and a fifty-two week high of $89.75. The business has a 50 day moving average price of $81.35 and a two-hundred day moving average price of $76.89. The stock has a market cap of $11.49 billion, a PE ratio of 10.40, a P/E/G ratio of 2.65 and a beta of 1.29.

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

East West Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were paid a dividend of $0.55 per share. The ex-dividend date was Friday, August 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.66%. East West Bancorp’s dividend payout ratio is presently 27.71%.

About East West Bancorp

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.