Van ECK Associates Corp Acquires 5,403 Shares of East West Bancorp, Inc. $EWBC

Van ECK Associates Corp grew its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 4.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 114,604 shares of the financial services provider’s stock after buying an additional 5,403 shares during the quarter. Van ECK Associates Corp owned 0.08% of East West Bancorp worth $14,794,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Solstein Capital LLC acquired a new stake in East West Bancorp during the second quarter valued at approximately $27,000. Ancora Advisors LLC bought a new position in shares of East West Bancorp during the 2nd quarter worth approximately $27,000. Atlantic Union Bankshares Corp bought a new position in shares of East West Bancorp during the 4th quarter worth approximately $31,000. Kelleher Financial Advisors bought a new position in shares of East West Bancorp during the 3rd quarter worth approximately $31,000. Finally, Fiduciary Financial Advisors acquired a new stake in East West Bancorp in the 2nd quarter valued at $35,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Price Performance

Shares of EWBC stock opened at $126.86 on Tuesday. East West Bancorp, Inc. has a 52 week low of $92.67 and a 52 week high of $137.47. The stock has a market capitalization of $17.38 billion, a PE ratio of 12.20, a PEG ratio of 1.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s fifty day moving average is $131.43 and its 200-day moving average is $122.43.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.02. The business had revenue of $789.98 million for the quarter, compared to the consensus estimate of $784.47 million. East West Bancorp had a net margin of 30.45% and a return on equity of 16.07%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.24 EPS. Equities research analysts expect that East West Bancorp, Inc. will post 10.61 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 3rd were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, August 3rd. East West Bancorp’s payout ratio is 30.77%.

Analyst Ratings Changes

Several research firms have issued reports on EWBC. Wall Street Zen upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Wells Fargo & Company initiated coverage on East West Bancorp in a report on Monday, August 10th. They set an “overweight” rating and a $155.00 price objective for the company. Barclays boosted their target price on shares of East West Bancorp from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of East West Bancorp in a research report on Friday, July 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $152.00 price target on shares of East West Bancorp in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.92.

Insider Buying and Selling

In related news, Director Jack C. Liu sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $135.02, for a total value of $135,020.00. Following the transaction, the director owned 13,709 shares in the company, valued at $1,850,989.18. This trade represents a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of East West Bancorp stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $132.37, for a total value of $1,323,700.00. Following the completion of the sale, the insider owned 36,974 shares of the company’s stock, valued at approximately $4,894,248.38. The trade was a 21.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 23,511 shares of company stock worth $3,077,741 in the last quarter. Insiders own 0.94% of the company’s stock.

East West Bancorp Company Profile

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.