DNB Asset Management AS Has $8.28 Million Stock Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

DNB Asset Management AS boosted its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 1.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 113,164 shares of the financial services provider’s stock after buying an additional 1,082 shares during the quarter. DNB Asset Management AS’s holdings in East West Bancorp were worth $8,284,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. M&R Capital Management Inc. raised its stake in shares of East West Bancorp by 5.3% during the second quarter. M&R Capital Management Inc. now owns 40,525 shares of the financial services provider’s stock worth $2,968,000 after buying an additional 2,053 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of East West Bancorp by 106.5% during the second quarter. GAMMA Investing LLC now owns 2,431 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 1,254 shares during the period. Cetera Advisors LLC bought a new stake in East West Bancorp in the first quarter valued at about $278,000. Plato Investment Management Ltd lifted its stake in East West Bancorp by 6,562.5% in the first quarter. Plato Investment Management Ltd now owns 2,665 shares of the financial services provider’s stock valued at $211,000 after buying an additional 2,625 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in East West Bancorp by 55.5% during the first quarter. Janus Henderson Group PLC now owns 99,386 shares of the financial services provider’s stock worth $7,859,000 after buying an additional 35,453 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EWBC has been the topic of a number of recent analyst reports. Stephens lifted their price target on shares of East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Piper Sandler increased their price target on East West Bancorp from $72.50 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Jefferies Financial Group cut their price objective on East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. StockNews.com raised East West Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, DA Davidson raised their target price on shares of East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.53.

Insider Transactions at East West Bancorp

In other news, Director Rudolph Estrada sold 1,896 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.77, for a total transaction of $166,411.92. Following the transaction, the director now owns 18,470 shares in the company, valued at $1,621,111.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other East West Bancorp news, Director Rudolph Estrada sold 1,896 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.77, for a total transaction of $166,411.92. Following the completion of the sale, the director now owns 18,470 shares in the company, valued at approximately $1,621,111.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Douglas Paul Krause sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $73.76, for a total transaction of $590,080.00. Following the completion of the transaction, the insider now directly owns 57,403 shares in the company, valued at approximately $4,234,045.28. The disclosure for this sale can be found here. Insiders sold a total of 19,346 shares of company stock valued at $1,531,240 in the last quarter. 1.04% of the stock is currently owned by company insiders.

East West Bancorp Trading Up 0.5 %

Shares of NASDAQ EWBC traded up $0.42 during midday trading on Tuesday, reaching $77.25. The stock had a trading volume of 817,411 shares, compared to its average volume of 1,033,394. The company’s 50 day moving average price is $75.54 and its 200 day moving average price is $74.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. East West Bancorp, Inc. has a twelve month low of $49.59 and a twelve month high of $89.75. The firm has a market cap of $10.75 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 2.84 and a beta of 1.32.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.10. The business had revenue of $638.00 million during the quarter, compared to the consensus estimate of $631.61 million. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. East West Bancorp’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $2.20 earnings per share. As a group, sell-side analysts expect that East West Bancorp, Inc. will post 8.15 EPS for the current year.

East West Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 2nd will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Friday, August 2nd. East West Bancorp’s payout ratio is 27.71%.

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 in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.