Algert Global LLC Has $3.38 Million Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Algert Global LLC reduced its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 10.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,175 shares of the financial services provider’s stock after selling 5,259 shares during the quarter. Algert Global LLC’s holdings in East West Bancorp were worth $3,381,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Riverview Trust Co acquired a new position in East West Bancorp during the 1st quarter worth $25,000. YHB Investment Advisors Inc. acquired a new stake in East West Bancorp during the 1st quarter worth $27,000. Rise Advisors LLC acquired a new stake in East West Bancorp during the 1st quarter worth $30,000. Kapitalo Investimentos Ltda acquired a new stake in East West Bancorp during the 4th quarter worth $29,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in East West Bancorp during the 2nd quarter worth $30,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

East West Bancorp Trading Up 1.5 %

East West Bancorp stock opened at $82.74 on Tuesday. East West Bancorp, Inc. has a 52 week low of $49.59 and a 52 week high of $89.75. 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 stock has a market capitalization of $11.51 billion, a P/E ratio of 10.42, a PEG ratio of 2.80 and a beta of 1.29. The stock has a 50-day simple moving average of $81.50 and a 200 day simple moving average of $77.05.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.10. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The company had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $631.61 million. During the same quarter in the previous year, the company posted $2.20 earnings per share. The business’s revenue was down .9% on a year-over-year basis. 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 disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Friday, August 2nd. East West Bancorp’s dividend payout ratio is presently 27.71%.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Rudolph Estrada sold 1,896 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 18,470 shares in the company, valued at $1,621,111.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Lisa L. Kim sold 6,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $78.68, for a total transaction of $472,080.00. Following the completion of the transaction, the executive vice president now directly owns 18,891 shares in the company, valued at $1,486,343.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rudolph Estrada sold 1,896 shares of the business’s 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 completion of the sale, the director now directly owns 18,470 shares in the company, valued at approximately $1,621,111.90. The disclosure for this sale can be found here. Insiders sold a total of 13,346 shares of company stock worth $1,108,160 over the last quarter. Company insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on EWBC. Wells Fargo & Company raised their price objective on East West Bancorp from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Jefferies Financial Group dropped their price target 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. DA Davidson lifted their price target on East West Bancorp from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Stephens lifted their price target 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. Finally, StockNews.com raised East West Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.73.

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.