FDx Advisors Inc. decreased its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 28.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,326 shares of the financial services provider’s stock after selling 8,209 shares during the quarter. FDx Advisors Inc.’s holdings in East West Bancorp were worth $1,325,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. 180 Wealth Advisors LLC bought a new position in East West Bancorp during the second quarter valued at approximately $312,000. American International Group Inc. boosted its stake in East West Bancorp by 0.9% during the second quarter. American International Group Inc. now owns 291,677 shares of the financial services provider’s stock valued at $19,017,000 after buying an additional 2,514 shares during the last quarter. People s United Financial Inc. bought a new position in East West Bancorp during the second quarter valued at approximately $18,147,000. Schwab Charles Investment Management Inc. boosted its stake in East West Bancorp by 7.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 701,214 shares of the financial services provider’s stock valued at $45,720,000 after buying an additional 47,254 shares during the last quarter. Finally, Gideon Capital Advisors Inc. boosted its stake in East West Bancorp by 54.8% during the second quarter. Gideon Capital Advisors Inc. now owns 6,930 shares of the financial services provider’s stock valued at $452,000 after buying an additional 2,452 shares during the last quarter. Institutional investors and hedge funds own 89.48% of the company’s stock.

Shares of EWBC stock opened at $63.70 on Friday. East West Bancorp, Inc. has a 1 year low of $52.86 and a 1 year high of $73.98. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. The company has a market cap of $9.41 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 1.34 and a beta of 1.37.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, July 19th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.09. East West Bancorp had a return on equity of 15.12% and a net margin of 34.15%. The business had revenue of $389.95 million for the quarter, compared to the consensus estimate of $382.70 million. During the same period in the prior year, the business posted $0.81 earnings per share. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. equities research analysts anticipate that East West Bancorp, Inc. will post 4.61 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Wednesday, August 1st were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.44%. This is an increase from East West Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, July 31st. East West Bancorp’s dividend payout ratio is presently 26.59%.

In other news, CEO Dominic Ng sold 5,771 shares of the stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $69.27, for a total value of $399,757.17. Following the sale, the chief executive officer now directly owns 471,919 shares in the company, valued at $32,689,829.13. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Molly Campbell sold 356 shares of the stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $70.36, for a total value of $25,048.16. Following the completion of the sale, the director now owns 4,127 shares in the company, valued at $290,375.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,833 shares of company stock worth $5,229,481. Company insiders own 0.88% of the company’s stock.

A number of equities analysts recently commented on the company. Zacks Investment Research lowered East West Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Piper Jaffray Companies set a $82.00 price objective on East West Bancorp and gave the company a “buy” rating in a research report on Thursday, July 19th. BidaskClub downgraded East West Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 9th. Morgan Stanley upped their price objective on East West Bancorp from $74.00 to $75.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 24th. Finally, ValuEngine downgraded East West Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, June 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. East West Bancorp has a consensus rating of “Hold” and a consensus price target of $71.77.

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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.

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

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