Zurcher Kantonalbank Zurich Cantonalbank Purchases 12,702 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBCGet Rating) by 2.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 634,563 shares of the financial services provider’s stock after acquiring an additional 12,702 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.45% of East West Bancorp worth $50,143,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Eaton Vance Management lifted its holdings in shares of East West Bancorp by 2.9% in the 4th quarter. Eaton Vance Management now owns 4,047 shares of the financial services provider’s stock worth $167,000 after acquiring an additional 115 shares during the last quarter. HighTower Advisors LLC grew its position in East West Bancorp by 2.6% during the 4th quarter. HighTower Advisors LLC now owns 5,173 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 131 shares during the last quarter. Van ECK Associates Corp grew its position in East West Bancorp by 5.5% during the 4th quarter. Van ECK Associates Corp now owns 2,962 shares of the financial services provider’s stock worth $233,000 after purchasing an additional 155 shares during the last quarter. Hanseatic Management Services Inc. grew its position in East West Bancorp by 2.8% during the 4th quarter. Hanseatic Management Services Inc. now owns 8,488 shares of the financial services provider’s stock worth $668,000 after purchasing an additional 233 shares during the last quarter. Finally, Synovus Financial Corp grew its position in East West Bancorp by 3.3% during the 4th quarter. Synovus Financial Corp now owns 8,854 shares of the financial services provider’s stock worth $695,000 after purchasing an additional 283 shares during the last quarter. 89.44% of the stock is owned by institutional investors.

EWBC has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of East West Bancorp from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, April 22nd. Wedbush cut shares of East West Bancorp from an “outperform” rating to a “neutral” rating and set a $75.00 target price for the company. in a research note on Thursday. Truist Financial decreased their target price on shares of East West Bancorp from $100.00 to $80.00 in a research note on Wednesday, June 15th. Finally, StockNews.com started coverage on shares of East West Bancorp in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.83.

NASDAQ:EWBC traded up $0.17 during trading hours on Friday, reaching $64.97. 5,024 shares of the company were exchanged, compared to its average volume of 1,063,671. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average is $70.15 and its 200-day moving average is $78.06. The firm has a market cap of $9.24 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 0.96 and a beta of 1.54. East West Bancorp, Inc. has a twelve month low of $61.65 and a twelve month high of $93.51.

East West Bancorp (NASDAQ:EWBCGet Rating) last posted its quarterly earnings data on Thursday, April 21st. The financial services provider reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.13. The company had revenue of $495.00 million during the quarter, compared to analysts’ expectations of $478.35 million. East West Bancorp had a net margin of 46.15% and a return on equity of 15.90%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 earnings per share. As a group, research analysts anticipate that East West Bancorp, Inc. will post 7.02 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 16th. Stockholders of record on Monday, May 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Friday, April 29th. East West Bancorp’s payout ratio is 25.32%.

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

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