Caisse de depot et placement du Quebec Invests $7.36 Million in East West Bancorp, Inc. $EWBC

Caisse de depot et placement du Quebec purchased a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 57,000 shares of the financial services provider's stock, valued at approximately $7,358,000.

Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. purchased a new stake in East West Bancorp during the second quarter valued at $1,744,958,000. Northwestern Mutual Wealth Management Co. lifted its holdings in East West Bancorp by 84,090.3% during 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 purchasing an additional 5,305,257 shares in the last quarter. Norges Bank bought a new position in shares of East West Bancorp in the fourth quarter worth approximately $199,529,000. Price T Rowe Associates Inc. MD increased its stake in shares of East West Bancorp by 281.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,607,314 shares of the financial services provider's stock worth $180,647,000 after purchasing an additional 1,185,781 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of East West Bancorp in the second quarter worth $130,744,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Stock Down 0.2%

Shares of EWBC stock opened at $129.44 on Friday. The company's fifty day simple moving average is $131.47 and its two-hundred day simple moving average is $122.39. East West Bancorp, Inc. has a 52 week low of $92.67 and a 52 week high of $137.47. The stock has a market cap of $17.73 billion, a P/E ratio of 12.45, a PEG ratio of 1.50 and a beta of 0.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.33.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.61 by $0.02. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The firm had revenue of $789.98 million during the quarter, compared to analyst estimates of $784.47 million. During the same quarter last year, the business posted $2.24 earnings per share. The business's quarterly revenue was up 12.5% compared to the same quarter last year. Analysts predict that East West Bancorp, Inc. will post 10.61 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 3rd. East West Bancorp's dividend payout ratio is 30.77%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $152.00 target price on shares of East West Bancorp in a research note on Wednesday, August 19th. Wells Fargo & Company assumed coverage on East West Bancorp in a report on Monday, August 10th. They set an "overweight" rating and a $155.00 price target on the stock. Barclays boosted their price objective on East West Bancorp from $150.00 to $155.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Stephens increased their target price on East West Bancorp from $129.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 22nd. Finally, Wall Street Zen raised East West Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. 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. According to data from MarketBeat, East West Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $141.92.

Insider Activity

In other news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $132.37, for a total transaction of $1,323,700.00. Following the completion of the transaction, the insider directly owned 36,974 shares in the company, valued at approximately $4,894,248.38. This represents a 21.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Irene H. Oh sold 11,211 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $129.00, for a total transaction of $1,446,219.00. Following the completion of the transaction, the insider directly owned 85,998 shares of the company's stock, valued at approximately $11,093,742. This trade represents a 11.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 23,511 shares of company stock worth $3,077,741. 0.94% of the stock is currently owned by insiders.

East West Bancorp Company Profile

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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