JCSD Capital LLC lessened its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) by 19.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,123 shares of the financial services provider’s stock after selling 5,000 shares during the quarter. East West Bancorp accounts for 4.0% of JCSD Capital LLC’s portfolio, making the stock its 8th largest position. JCSD Capital LLC’s holdings in East West Bancorp were worth $2,727,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in East West Bancorp during the second quarter valued at approximately $1,744,958,000. Northwestern Mutual Wealth Management Co. lifted its stake in East West Bancorp by 84,090.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider’s stock valued at $596,967,000 after buying an additional 5,305,257 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in East West Bancorp by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,981,065 shares of the financial services provider’s stock valued at $559,822,000 after purchasing an additional 106,998 shares during the period. First Trust Advisors LP boosted its position in shares of East West Bancorp by 7.1% during the fourth quarter. First Trust Advisors LP now owns 4,620,772 shares of the financial services provider’s stock worth $519,329,000 after buying an additional 306,916 shares during the period. Finally, Boston Partners boosted its position in East West Bancorp by 19.6% during the 3rd quarter. Boston Partners now owns 3,874,737 shares of the financial services provider’s stock worth $412,464,000 after acquiring an additional 633,649 shares during the period. Institutional investors own 89.53% of the company’s stock.
East West Bancorp Stock Performance
Shares of EWBC opened at $129.44 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.88 and a quick ratio of 0.88. The company’s fifty day moving average price is $131.47 and its 200 day moving average price is $122.39. The company has a market capitalization of $17.73 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.50 and a beta of 0.94. East West Bancorp, Inc. has a one year low of $92.67 and a one year high of $137.47.
East West Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. East West Bancorp’s dividend payout ratio is currently 30.77%.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on EWBC. Barclays upped their price target on shares of East West Bancorp from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of East West Bancorp in a research report on Friday, July 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $152.00 price objective on shares of East West Bancorp in a research report on Wednesday, August 19th. Wells Fargo & Company started coverage on East West Bancorp in a report on Monday, August 10th. They issued an “overweight” rating and a $155.00 target price on the stock. Finally, Morgan Stanley upped their price target on shares of East West Bancorp from $128.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $141.92.
Get Our Latest Stock Report on East West Bancorp
Insider Buying and Selling at East West Bancorp
In other East West Bancorp news, Director Jack C. Liu sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $135.02, for a total value of $135,020.00. Following the completion of the sale, the director owned 13,709 shares in the company, valued at approximately $1,850,989.18. This trade represents a 6.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $132.37, for a total value of $1,323,700.00. Following the completion of the transaction, the insider directly owned 36,974 shares of the company’s stock, valued at approximately $4,894,248.38. This trade represents a 21.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 23,511 shares of company stock valued at $3,077,741 in the last quarter. Corporate insiders own 0.94% of the company’s stock.
About East West Bancorp
East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.
Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.
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