Public Employees Retirement Association of Colorado reduced its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,087 shares of the financial services provider’s stock after selling 7,200 shares during the period. Public Employees Retirement Association of Colorado owned 0.17% of East West Bancorp worth $11,697,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. boosted its stake in East West Bancorp by 1.4% in the first quarter. BlackRock Inc. now owns 15,631,046 shares of the financial services provider’s stock valued at $749,821,000 after acquiring an additional 210,275 shares during the period. JPMorgan Chase & Co. boosted its stake in East West Bancorp by 0.3% in the first quarter. JPMorgan Chase & Co. now owns 4,923,380 shares of the financial services provider’s stock valued at $236,175,000 after acquiring an additional 14,063 shares during the period. Boston Partners boosted its stake in East West Bancorp by 2.1% in the first quarter. Boston Partners now owns 4,682,285 shares of the financial services provider’s stock valued at $224,610,000 after acquiring an additional 94,548 shares during the period. William Blair Investment Management LLC boosted its stake in East West Bancorp by 132.7% in the first quarter. William Blair Investment Management LLC now owns 3,757,889 shares of the financial services provider’s stock valued at $180,266,000 after acquiring an additional 2,142,829 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in East West Bancorp by 46.5% in the first quarter. Principal Financial Group Inc. now owns 3,159,327 shares of the financial services provider’s stock valued at $151,555,000 after acquiring an additional 1,002,529 shares during the period. Institutional investors own 87.96% of the company’s stock.

Shares of NASDAQ EWBC opened at $39.34 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.03. The business’s 50 day simple moving average is $45.59. The firm has a market capitalization of $5.73 billion, a P/E ratio of 8.44, a PEG ratio of 0.89 and a beta of 1.62. East West Bancorp, Inc. has a 12-month low of $38.80 and a 12-month high of $66.00.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.24. The business had revenue of $420.09 million during the quarter, compared to the consensus estimate of $416.35 million. East West Bancorp had a return on equity of 15.42% and a net margin of 32.92%. During the same period in the previous year, the firm posted $1.18 earnings per share. As a group, equities research analysts forecast that East West Bancorp, Inc. will post 4.89 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, July 31st. This represents a $1.10 annualized dividend and a dividend yield of 2.80%. East West Bancorp’s dividend payout ratio is presently 23.61%.

A number of brokerages have commented on EWBC. Wedbush restated an “outperform” rating and issued a $50.00 target price (down from $57.00) on shares of East West Bancorp in a research note on Monday, June 3rd. Zacks Investment Research upgraded East West Bancorp from a “sell” rating to a “hold” rating and set a $48.00 target price for the company in a research note on Friday, June 28th. BidaskClub downgraded East West Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday. Raymond James downgraded East West Bancorp from a “market perform” rating to an “underperform” rating in a research report on Monday, July 8th. Finally, ValuEngine downgraded East West Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.33.

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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

Further Reading: Portfolio Manager

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

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