Nisa Investment Advisors LLC maintained its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 70,300 shares of the financial services provider’s stock at the end of the second quarter. Nisa Investment Advisors LLC’s holdings in East West Bancorp were worth $4,099,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Washington Trust Bank raised its stake in East West Bancorp by 3.7% in the first quarter. Washington Trust Bank now owns 2,380 shares of the financial services provider’s stock valued at $123,000 after buying an additional 86 shares in the last quarter. World Asset Management Inc raised its stake in East West Bancorp by 2.1% in the first quarter. World Asset Management Inc now owns 8,944 shares of the financial services provider’s stock valued at $462,000 after buying an additional 181 shares in the last quarter. Stephens Inc. AR raised its stake in East West Bancorp by 3.8% in the first quarter. Stephens Inc. AR now owns 9,438 shares of the financial services provider’s stock valued at $487,000 after buying an additional 348 shares in the last quarter. Cadence Capital Management LLC raised its stake in East West Bancorp by 8.1% in the first quarter. Cadence Capital Management LLC now owns 5,799 shares of the financial services provider’s stock valued at $299,000 after buying an additional 434 shares in the last quarter. Finally, State Treasurer State of Michigan raised its stake in East West Bancorp by 0.9% in the first quarter. State Treasurer State of Michigan now owns 58,600 shares of the financial services provider’s stock valued at $3,024,000 after buying an additional 500 shares in the last quarter. 88.12% of the stock is owned by institutional investors.
East West Bancorp, Inc. (NASDAQ:EWBC) opened at 55.01 on Friday. The stock’s 50 day moving average price is $57.72 and its 200-day moving average price is $54.94. East West Bancorp, Inc. has a 1-year low of $34.02 and a 1-year high of $60.42. The company has a market cap of $7.95 billion, a PE ratio of 15.71 and a beta of 1.41.
East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.81 EPS for the quarter, hitting analysts’ consensus estimates of $0.81. The firm had revenue of $337.49 million during the quarter, compared to the consensus estimate of $329.32 million. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. During the same quarter in the previous year, the firm posted $0.71 earnings per share. On average, analysts forecast that East West Bancorp, Inc. will post $3.74 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, July 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.45%. East West Bancorp’s payout ratio is currently 22.92%.
EWBC has been the subject of several recent research reports. Piper Jaffray Companies cut their price target on East West Bancorp to $62.00 and set an “overweight” rating for the company in a report on Monday, April 17th. Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Thursday, April 20th. Barclays PLC restated an “overweight” rating and issued a $63.00 price objective (up from $61.00) on shares of East West Bancorp in a research report on Sunday, April 23rd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $57.00 price objective on shares of East West Bancorp in a research report on Monday, May 22nd. Finally, Morgan Stanley boosted their target price on East West Bancorp from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 6th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $62.88.
In related news, Director Jack C. Liu sold 1,123 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $59.00, for a total transaction of $66,257.00. Following the completion of the transaction, the director now owns 23,669 shares in the company, valued at $1,396,471. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.
About East West Bancorp
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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