Ferguson Wellman Capital Management Inc. cut its holdings in East West Bancorp, Inc. (NASDAQ:EWBC – Get Rating) by 6.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,544 shares of the financial services provider’s stock after selling 585 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in East West Bancorp were worth $554,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Asset Dedication LLC bought a new position in shares of East West Bancorp in the first quarter valued at approximately $113,000. Jupiter Asset Management Ltd. grew its holdings in shares of East West Bancorp by 1,646.4% in the first quarter. Jupiter Asset Management Ltd. now owns 46,646 shares of the financial services provider’s stock valued at $3,685,000 after acquiring an additional 43,975 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of East West Bancorp by 4,397.3% in the first quarter. National Bank of Canada FI now owns 20,238 shares of the financial services provider’s stock valued at $1,630,000 after acquiring an additional 19,788 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of East West Bancorp by 13.1% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 48,478 shares of the financial services provider’s stock valued at $3,831,000 after acquiring an additional 5,600 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in East West Bancorp by 52.8% during the first quarter. Quadrant Capital Group LLC now owns 440 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 152 shares during the period. 89.04% of the stock is owned by institutional investors.
East West Bancorp Price Performance
East West Bancorp stock opened at $69.73 on Friday. East West Bancorp, Inc. has a one year low of $61.65 and a one year high of $93.51. The business has a fifty day moving average price of $72.51 and a 200-day moving average price of $72.67. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $9.83 billion, a P/E ratio of 10.63, a PEG ratio of 0.93 and a beta of 1.50.
East West Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Monday, August 1st were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, July 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.29%. East West Bancorp’s dividend payout ratio (DPR) is presently 24.39%.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on EWBC shares. Jefferies Financial Group reduced their price objective on East West Bancorp from $102.00 to $79.00 in a report on Monday, July 11th. Wedbush increased their price objective on East West Bancorp to $80.00 in a report on Friday, July 22nd. Truist Financial increased their price objective on East West Bancorp from $80.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, September 14th. Finally, Piper Sandler increased their price objective on East West Bancorp to $74.00 in a report on Monday, July 25th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.17.
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. It operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. The company accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.
- Get a free copy of the StockNews.com research report on East West Bancorp (EWBC)
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