Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in East West Bancorp, Inc. (NASDAQ:EWBC)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,024 shares of the financial services provider’s stock after purchasing an additional 1,803 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in East West Bancorp were worth $2,711,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Riverview Trust Co purchased a new position in East West Bancorp during the first quarter valued at approximately $25,000. YHB Investment Advisors Inc. bought a new stake in shares of East West Bancorp during the 1st quarter valued at $27,000. Kapitalo Investimentos Ltda purchased a new position in shares of East West Bancorp during the 4th quarter valued at $29,000. Rise Advisors LLC purchased a new position in shares of East West Bancorp during the 1st quarter valued at $30,000. Finally, Mather Group LLC. bought a new position in East West Bancorp in the 1st quarter worth $35,000. Institutional investors own 89.53% of the company’s stock.

East West Bancorp Stock Performance

Shares of NASDAQ:EWBC opened at $84.07 on Friday. The firm has a fifty day simple moving average of $78.96 and a two-hundred day simple moving average of $76.01. East West Bancorp, Inc. has a 52 week low of $49.59 and a 52 week high of $89.75. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $11.70 billion, a P/E ratio of 10.59, a PEG ratio of 2.84 and a beta of 1.32.

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

East West Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Friday, August 2nd. East West Bancorp’s dividend payout ratio is currently 27.71%.

Insider Activity at East West Bancorp

In other East West Bancorp news, Director Rudolph Estrada sold 1,896 shares of East West Bancorp 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 transaction, the director now directly owns 18,470 shares of the company’s stock, valued at $1,621,111.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $83.50, for a total transaction of $167,000.00. Following the transaction, the director now directly owns 16,557 shares in the company, valued at approximately $1,382,509.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rudolph Estrada sold 1,896 shares of the stock in a transaction dated Friday, July 26th. The stock was 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 directly owns 18,470 shares in the company, valued at $1,621,111.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,346 shares of company stock worth $1,108,160. Company insiders own 1.04% of the company’s stock.

Wall Street Analysts Forecast Growth

EWBC has been the topic of a number of recent analyst reports. Jefferies Financial Group decreased their price target 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. Piper Sandler boosted 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. DA Davidson upped their price target on East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. StockNews.com upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Truist Financial upped their target price on shares of East West Bancorp from $80.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, East West Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.53.

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.