Invesco Ltd. Has $1.08 Billion Stock Holdings in East West Bancorp, Inc. $EWBC

by · The Cerbat Gem

Invesco Ltd. boosted its position in East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) by 38.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 10,683,377 shares of the financial services provider’s stock after purchasing an additional 2,968,716 shares during the period. Invesco Ltd. owned about 0.08% of East West Bancorp worth $1,078,807,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Park Place Capital Corp bought a new stake in East West Bancorp in the second quarter valued at approximately $27,000. WPG Advisers LLC bought a new position in shares of East West Bancorp during the 1st quarter worth approximately $28,000. SVB Wealth LLC acquired a new position in shares of East West Bancorp during the 1st quarter worth approximately $29,000. Chung Wu Investment Group LLC bought a new stake in East West Bancorp in the 2nd quarter valued at $30,000. Finally, American National Bank & Trust acquired a new stake in East West Bancorp during the 2nd quarter valued at $32,000. Institutional investors own 89.53% of the company’s stock.

East West Bancorp Trading Down 0.4%

Shares of EWBC stock opened at $107.15 on Wednesday. The stock has a market cap of $14.74 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. East West Bancorp, Inc. has a 1 year low of $68.27 and a 1 year high of $110.80. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.35. The stock has a 50 day simple moving average of $103.34 and a 200 day simple moving average of $102.09.

East West Bancorp (NASDAQ:EWBC – Get Free Report) last announced its quarterly earnings data on Monday, December 11th. The financial services provider reported $2.08 earnings per share for the quarter. The firm had revenue of $627.36 million during the quarter. East West Bancorp had a return on equity of 15.55% and a net margin of 27.16%. On average, research analysts predict that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, November 3rd. East West Bancorp’s payout ratio is 26.46%.

Insider Buying and Selling

In other news, Director Molly Campbell sold 1,520 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $104.73, for a total value of $159,189.60. Following the completion of the transaction, the director directly owned 7,556 shares in the company, valued at approximately $791,339.88. The trade was a 16.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Irene H. Oh sold 7,639 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $109.40, for a total transaction of $835,706.60. Following the sale, the insider directly owned 105,714 shares of the company’s stock, valued at approximately $11,565,111.60. This trade represents a 6.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,139 shares of company stock valued at $2,301,906 over the last quarter. 1.04% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on EWBC. Barclays lifted their price objective on shares of East West Bancorp from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of East West Bancorp in a research note on Monday. UBS Group lowered their price target on shares of East West Bancorp from $118.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, October 28th. Piper Sandler boosted their price objective on East West Bancorp from $100.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, September 8th. Finally, Cowen started coverage on East West Bancorp in a research report on Wednesday, September 24th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, East West Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.08.

View Our Latest Stock Report on EWBC

About East West Bancorp

(Free Report)

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.

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