NN Investment Partners Holdings N.V. acquired a new 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 institutional investor acquired 2,130 shares of the financial services provider’s stock, valued at approximately $77,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arden Trust Co bought a new position in East West Bancorp during the 1st quarter valued at $38,000. Private Capital Group LLC lifted its position in shares of East West Bancorp by 39.1% in the 1st quarter. Private Capital Group LLC now owns 2,160 shares of the financial services provider’s stock worth $56,000 after buying an additional 607 shares during the last quarter. Smithfield Trust Co. lifted its position in shares of East West Bancorp by 2,775.0% in the 1st quarter. Smithfield Trust Co. now owns 2,300 shares of the financial services provider’s stock worth $59,000 after buying an additional 2,220 shares during the last quarter. Pendal Group Ltd lifted its position in shares of East West Bancorp by 65.7% in the 1st quarter. Pendal Group Ltd now owns 3,062 shares of the financial services provider’s stock worth $79,000 after buying an additional 1,214 shares during the last quarter. Finally, WASHINGTON TRUST Co acquired a new stake in shares of East West Bancorp in the 1st quarter worth about $93,000. Hedge funds and other institutional investors own 87.61% of the company’s stock.
A number of analysts recently weighed in on EWBC shares. DA Davidson increased their price objective on shares of East West Bancorp from $33.00 to $37.00 in a report on Friday, June 19th. Compass Point started coverage on shares of East West Bancorp in a research note on Tuesday, April 14th. They issued a “neutral” rating on the stock. BMO Capital Markets lifted their price objective on shares of East West Bancorp from $34.00 to $36.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. BidaskClub cut shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $33.00 target price (up from $31.00) on shares of East West Bancorp in a report on Tuesday, July 7th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. East West Bancorp has an average rating of “Hold” and a consensus target price of $63.78.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.04). The firm had revenue of $402.41 million for the quarter, compared to the consensus estimate of $390.87 million. East West Bancorp had a return on equity of 12.18% and a net margin of 29.90%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 EPS. As a group, sell-side analysts predict that East West Bancorp, Inc. will post 3.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Tuesday, August 4th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Monday, August 3rd. East West Bancorp’s payout ratio is currently 22.73%.
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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.
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