Pacer Advisors Inc. Increases Stake in East West Bancorp, Inc. (EWBC)
Pacer Advisors Inc. boosted its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 11.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,043 shares of the financial services provider’s stock after buying an additional 2,163 shares during the period. Pacer Advisors Inc.’s holdings in East West Bancorp were worth $1,233,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of EWBC. Utah Retirement Systems boosted its stake in shares of East West Bancorp by 0.4% in the second quarter. Utah Retirement Systems now owns 26,294 shares of the financial services provider’s stock worth $1,540,000 after buying an additional 100 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of East West Bancorp during the second quarter worth about $16,865,000. Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new stake in shares of East West Bancorp during the second quarter worth about $2,686,000. Andra AP fonden bought a new stake in shares of East West Bancorp during the second quarter worth about $2,109,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in shares of East West Bancorp during the second quarter worth about $489,000. Institutional investors own 91.33% of the company’s stock.
East West Bancorp, Inc. (EWBC) opened at 55.67 on Monday. East West Bancorp, Inc. has a 52-week low of $35.09 and a 52-week high of $60.42. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 15.90 and a beta of 1.41. The company’s 50-day moving average price is $56.93 and its 200 day moving average price is $55.19.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.81 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. The business had revenue of $337.49 million during the quarter, compared to the consensus estimate of $329.32 million. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. During the same quarter in the previous year, the firm posted $0.71 earnings per share. On average, equities analysts expect that East West Bancorp, Inc. will post $3.74 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. East West Bancorp’s dividend payout ratio (DPR) is 22.92%.
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A number of analysts recently issued reports on EWBC shares. Morgan Stanley reissued an “equal weight” rating and set a $60.00 price objective (up previously from $59.00) on shares of East West Bancorp in a report on Thursday, July 6th. Deutsche Bank AG cut East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 price objective on the stock. in a report on Friday, July 14th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $57.00 price objective on shares of East West Bancorp in a report on Friday, June 23rd. BMO Capital Markets cut East West Bancorp from an “outperform” rating to a “market perform” rating and set a $63.00 price objective on the stock. in a report on Friday, July 7th. Finally, BidaskClub cut East West Bancorp from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $62.75.
In related news, Director Jack C. Liu sold 1,123 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $59.00, for a total transaction of $66,257.00. Following the completion of the transaction, the director now owns 23,669 shares in the company, valued at $1,396,471. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.
East West Bancorp Company Profile
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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