East West Bancorp, Inc. $EWBC Stock Holdings Lifted by Amundi

Key Points

• Amundi increased its East West Bancorp stake by 242.3% in the second quarter to 57,721 shares valued at approximately $7.45 million. Institutional investors collectively own 89.53% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $144.15; several firms recently raised targets to between $155 and $160.
• East West Bancorp exceeded quarterly expectations with $2.63 in EPS and $789.98 million in revenue, while revenue rose 12.5% year over year. The company also pays a quarterly dividend of $0.80 per share, representing a 2.5% yield.

Amundi grew its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 242.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 57,721 shares of the financial services provider's stock after acquiring an additional 40,857 shares during the period. Amundi's holdings in East West Bancorp were worth $7,451,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. California State Teachers Retirement System increased its stake in East West Bancorp by 12,510.7% in the 2nd quarter. California State Teachers Retirement System now owns 20,651,302 shares of the financial services provider's stock worth $2,665,877,000 after purchasing an additional 20,487,542 shares in the last quarter. BlackRock Inc. acquired a new position in shares of East West Bancorp in the second quarter worth about $1,744,958,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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 worth $596,967,000 after buying an additional 5,305,257 shares during the period. Norges Bank purchased a new position in shares of East West Bancorp in the fourth quarter worth approximately $199,529,000. Finally, Bank of America Corp DE purchased a new position in shares of East West Bancorp in the second quarter worth approximately $221,652,000. 89.53% of the stock is owned by institutional investors.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Manuel Alvarez sold 810 shares of the business's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $130.40, for a total value of $105,624.00. Following the transaction, the director owned 10,629 shares in the company, valued at $1,386,021.60. The trade was a 7.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Irene Oh sold 800 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $133.19, for a total value of $106,552.00. Following the completion of the transaction, the insider directly owned 84,698 shares in the company, valued at approximately $11,280,926.62. The trade was a 0.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 12,610 shares of company stock worth $1,670,896. 0.94% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wells Fargo & Company began coverage on shares of East West Bancorp in a research report on Monday, August 10th. They issued an "overweight" rating and a $155.00 price target for the company. Barclays boosted their target price on shares of East West Bancorp from $150.00 to $155.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Morgan Stanley upgraded East West Bancorp from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $131.00 to $160.00 in a report on Tuesday. Wall Street Zen raised East West Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Truist Financial lifted their price target on East West Bancorp from $128.00 to $136.00 and gave the company a "hold" rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $144.15.

East West Bancorp Stock Down 0.2%

East West Bancorp stock opened at $129.17 on Friday. East West Bancorp, Inc. has a twelve month low of $92.67 and a twelve month high of $137.47. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $17.70 billion, a PE ratio of 12.42, a P/E/G ratio of 1.50 and a beta of 0.93. The firm's 50 day moving average price is $131.33 and its two-hundred day moving average price is $123.04.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.61 by $0.02. East West Bancorp had a net margin of 30.45% and a return on equity of 16.07%. The company 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 EPS. The company's revenue for the quarter was up 12.5% on a year-over-year basis. On average, research 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. Investors 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 yield of 2.5%. East West Bancorp's dividend payout ratio (DPR) is presently 30.77%.

East West Bancorp Profile

East West Bancorp, Inc NASDAQ: EWBC is the holding company for East West Bank, a full-service commercial bank headquartered in Pasadena, California. Founded in 1973, the company provides banking and financial services to individuals, businesses, and institutions through its East West Bank subsidiary.

East West Bank offers deposit accounts, commercial and consumer lending, residential mortgage services, wealth management, treasury management, and international banking services. Its products support commercial real estate, commercial and industrial businesses, residential borrowers, and consumers.

The bank has a particular focus on serving communities and businesses connected to the United States and Greater China.

Want to see what other hedge funds are holding EWBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for East West Bancorp, Inc. (NASDAQ:EWBC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.