Mirae Asset Global Investments Co. Ltd. Has $10.06 Million Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,971 shares of the financial services provider's stock after purchasing an additional 12,651 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.08% of East West Bancorp worth $10,062,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of EWBC. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in East West Bancorp by 1,667.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 670,156 shares of the financial services provider's stock valued at $64,174,000 after purchasing an additional 632,245 shares during the period. Janney Montgomery Scott LLC lifted its stake in East West Bancorp by 25.0% in the first quarter. Janney Montgomery Scott LLC now owns 28,287 shares of the financial services provider's stock valued at $2,539,000 after buying an additional 5,654 shares during the last quarter. FORA Capital LLC acquired a new position in shares of East West Bancorp during the fourth quarter valued at $1,072,000. SG Americas Securities LLC boosted its holdings in shares of East West Bancorp by 470.9% during the first quarter. SG Americas Securities LLC now owns 7,559 shares of the financial services provider's stock valued at $678,000 after acquiring an additional 6,235 shares during the period. Finally, Merit Financial Group LLC bought a new position in shares of East West Bancorp during the first quarter worth about $639,000. 89.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, EVP Lisa L. Kim sold 2,100 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $95.04, for a total transaction of $199,584.00. Following the sale, the executive vice president owned 14,849 shares in the company, valued at approximately $1,411,248.96. The trade was a 12.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dominic Ng sold 40,000 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 928,314 shares of the company's stock, valued at $89,517,319.02. This represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.04% of the company's stock.

East West Bancorp Price Performance

East West Bancorp stock traded up $1.42 during midday trading on Friday, hitting $108.87. The company's stock had a trading volume of 604,281 shares, compared to its average volume of 932,688. East West Bancorp, Inc. has a 12 month low of $68.27 and a 12 month high of $113.95. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $15.00 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. The stock's 50-day moving average price is $93.48 and its 200-day moving average price is $92.42.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $2.09 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The business had revenue of $693.00 million for the quarter, compared to the consensus estimate of $673.02 million. East West Bancorp had a net margin of 25.73% and a return on equity of 15.23%. Analysts anticipate that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were given a dividend of $0.60 per share. The ex-dividend date was Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.20%. East West Bancorp's dividend payout ratio (DPR) is presently 28.64%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on EWBC shares. Barclays boosted their target price on shares of East West Bancorp from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Jefferies Financial Group started coverage on East West Bancorp in a report on Wednesday, May 21st. They issued a "buy" rating and a $115.00 price objective for the company. Citigroup lifted their target price on East West Bancorp from $100.00 to $116.00 and gave the company a "buy" rating in a research note on Wednesday. Wall Street Zen lowered East West Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley lowered East West Bancorp from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $118.00 to $90.00 in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $108.38.

East West Bancorp Profile

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.