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Charles Schwab Investment Management Inc. Boosts Position in East West Bancorp, Inc. (NASDAQ:EWBC)

East West Bancorp logo with Finance background

Key Points

  • Charles Schwab Investment Management has increased its stake in East West Bancorp by 7.1%, owning approximately 4.7 million shares now valued at $424.8 million.
  • Analyst ratings for East West Bancorp vary, with targets ranging from $110 to $135, suggesting a consensus rating of "Moderate Buy."
  • East West Bancorp declared a quarterly dividend of $0.60 per share, yielding approximately 2.5%, with a payout ratio of 28.04%.
  • Looking to Export and Analyze East West Bancorp Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Charles Schwab Investment Management Inc. lifted its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,733,102 shares of the financial services provider's stock after buying an additional 314,262 shares during the quarter. Charles Schwab Investment Management Inc. owned about 3.42% of East West Bancorp worth $424,843,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in East West Bancorp in the 4th quarter worth approximately $26,000. Picton Mahoney Asset Management lifted its stake in East West Bancorp by 1,971.4% in the 1st quarter. Picton Mahoney Asset Management now owns 290 shares of the financial services provider's stock worth $26,000 after purchasing an additional 276 shares in the last quarter. Versant Capital Management Inc lifted its stake in East West Bancorp by 89.7% in the 1st quarter. Versant Capital Management Inc now owns 518 shares of the financial services provider's stock worth $46,000 after purchasing an additional 245 shares in the last quarter. Grove Bank & Trust lifted its stake in East West Bancorp by 448.9% in the 1st quarter. Grove Bank & Trust now owns 516 shares of the financial services provider's stock worth $46,000 after purchasing an additional 422 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in East West Bancorp in the 4th quarter worth approximately $100,000. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Lisa L. Kim sold 2,100 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $95.04, for a total transaction of $199,584.00. Following the completion of the transaction, the executive vice president owned 14,849 shares in the company, valued at approximately $1,411,248.96. This represents a 12.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dominic Ng sold 40,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.43, for a total transaction of $3,857,200.00. Following the transaction, the chief executive officer owned 928,314 shares of the company's stock, valued at $89,517,319.02. This trade represents a 4.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,100 shares of company stock valued at $8,191,984. Company insiders own 1.04% of the company's stock.

East West Bancorp Stock Up 1.7%

NASDAQ:EWBC traded up $1.70 on Friday, reaching $99.11. 871,538 shares of the stock traded hands, compared to its average volume of 960,530. The company has a market capitalization of $13.66 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.35 and a beta of 0.97. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.43. East West Bancorp, Inc. has a 12 month low of $68.27 and a 12 month high of $113.95. The company's fifty day simple moving average is $100.62 and its 200 day simple moving average is $93.68.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $2.23 by $0.05. The business had revenue of $705.00 million during the quarter, compared to analysts' expectations of $702.04 million. East West Bancorp had a net margin of 26.06% and a return on equity of 15.09%. The firm's revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.07 earnings per share. Equities analysts predict that East West Bancorp, Inc. will post 8.85 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Monday, August 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, August 4th. East West Bancorp's dividend payout ratio is presently 28.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of East West Bancorp from $100.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Truist Financial increased their target price on shares of East West Bancorp from $102.00 to $110.00 and gave the company a "hold" rating in a report on Friday, July 11th. DA Davidson increased their target price on shares of East West Bancorp from $115.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Citigroup increased their target price on shares of East West Bancorp from $100.00 to $116.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen lowered shares of East West Bancorp from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, East West Bancorp presently has an average rating of "Moderate Buy" and an average price target of $114.15.

Read Our Latest Report on East West Bancorp

East West Bancorp Profile

(Free Report)

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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.

See Also

Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

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