Boston Trust Walden Corp Increases Stock Holdings in East West Bancorp, Inc. $EWBC

Boston Trust Walden Corp grew its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 25.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 572,267 shares of the financial services provider’s stock after buying an additional 117,227 shares during the quarter. Boston Trust Walden Corp’s holdings in East West Bancorp were worth $57,788,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Park Place Capital Corp acquired a new stake in shares of East West Bancorp in the second quarter valued at approximately $27,000. Picton Mahoney Asset Management grew its position in shares of East West Bancorp by 1,971.4% in the first quarter. Picton Mahoney Asset Management now owns 290 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 276 shares during the last quarter. Chung Wu Investment Group LLC acquired a new stake in shares of East West Bancorp in the second quarter valued at approximately $30,000. WPG Advisers LLC acquired a new stake in shares of East West Bancorp in the first quarter valued at approximately $28,000. Finally, American National Bank & Trust acquired a new stake in shares of East West Bancorp in the second quarter valued at approximately $32,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Insider Activity

In other news, EVP Gary Teo sold 6,550 shares of the business’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $106.47, for a total value of $697,378.50. Following the completion of the sale, the executive vice president owned 12,235 shares of the company’s stock, valued at approximately $1,302,660.45. The trade was a 34.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Irene H. Oh sold 7,639 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $109.40, for a total transaction of $835,706.60. Following the completion of the sale, the insider directly owned 105,714 shares of the company’s stock, valued at $11,565,111.60. The trade was a 6.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,240 shares of company stock worth $7,379,678. Corporate insiders own 1.04% of the company’s stock.

East West Bancorp Stock Performance

NASDAQ:EWBC opened at $101.18 on Tuesday. The firm has a market capitalization of $13.94 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.35 and a beta of 0.93. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.43. East West Bancorp, Inc. has a twelve month low of $68.27 and a twelve month high of $113.95. The firm’s fifty day simple moving average is $105.03 and its 200 day simple moving average is $97.11.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Monday, December 11th. The financial services provider reported $2.08 EPS for the quarter. East West Bancorp had a return on equity of 15.09% and a net margin of 26.06%.The business had revenue of $627.36 million for the quarter. As a group, equities research analysts expect that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Monday, August 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.4%. East West Bancorp’s payout ratio is 28.04%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on EWBC shares. Wells Fargo & Company increased their price target on shares of East West Bancorp from $100.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods increased their price target on shares of East West Bancorp from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. Piper Sandler increased their price target on shares of East West Bancorp from $100.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, September 8th. Truist Financial set a $112.00 price target on shares of East West Bancorp in a research report on Friday. Finally, TD Cowen initiated coverage on shares of East West Bancorp in a research report on Thursday, September 25th. They issued a “buy” rating and a $139.00 price target on the stock. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.33.

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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.