Russell Investments Group Ltd. Purchases 14,033 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Russell Investments Group Ltd. boosted its position in shares of East West Bancorp, Inc. (NASDAQ:EWBCGet Rating) by 65.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,374 shares of the financial services provider’s stock after purchasing an additional 14,033 shares during the period. Russell Investments Group Ltd.’s holdings in East West Bancorp were worth $2,802,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Occidental Asset Management LLC grew its holdings in shares of East West Bancorp by 2.2% in the 1st quarter. Occidental Asset Management LLC now owns 15,178 shares of the financial services provider’s stock valued at $1,199,000 after acquiring an additional 330 shares in the last quarter. Versor Investments LP grew its holdings in shares of East West Bancorp by 47.7% in the 1st quarter. Versor Investments LP now owns 4,464 shares of the financial services provider’s stock valued at $353,000 after acquiring an additional 1,441 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of East West Bancorp by 0.5% in the 1st quarter. Arizona State Retirement System now owns 38,360 shares of the financial services provider’s stock valued at $3,031,000 after acquiring an additional 174 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of East West Bancorp by 8.3% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 75,801 shares of the financial services provider’s stock valued at $5,990,000 after acquiring an additional 5,832 shares in the last quarter. Finally, National Asset Management Inc. bought a new position in shares of East West Bancorp in the 1st quarter valued at about $254,000. Institutional investors own 89.44% of the company’s stock.

East West Bancorp Trading Up 1.8 %

Shares of EWBC stock opened at $75.99 on Friday. The firm has a 50 day moving average price of $68.22 and a two-hundred day moving average price of $75.19. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $10.71 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 0.96 and a beta of 1.53. East West Bancorp, Inc. has a 12-month low of $61.65 and a 12-month high of $93.51.

East West Bancorp (NASDAQ:EWBCGet Rating) last issued its quarterly earnings data on Thursday, July 21st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.13. The firm had revenue of $551.00 million during the quarter, compared to the consensus estimate of $525.37 million. East West Bancorp had a net margin of 45.32% and a return on equity of 16.45%. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period last year, the business posted $1.57 earnings per share. As a group, analysts predict that East West Bancorp, Inc. will post 7.79 earnings per share for the current year.

East West Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, August 1st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 29th. This represents a $1.60 annualized dividend and a yield of 2.11%. East West Bancorp’s dividend payout ratio (DPR) is presently 24.39%.

Wall Street Analyst Weigh In

EWBC has been the subject of several analyst reports. Truist Financial decreased their price objective on East West Bancorp from $100.00 to $80.00 in a report on Wednesday, June 15th. Piper Sandler raised their target price on shares of East West Bancorp to $74.00 in a research note on Monday, July 25th. Jefferies Financial Group cut their target price on shares of East West Bancorp from $102.00 to $79.00 in a research note on Monday, July 11th. Wells Fargo & Company raised their target price on shares of East West Bancorp from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, April 22nd. Finally, Wedbush raised their target price on shares of East West Bancorp to $80.00 in a research note on Friday, July 22nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

About East West Bancorp

(Get Rating)

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. It operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. The company accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.

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