Texas Permanent School Fund Corp Has $9.76 Million Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Texas Permanent School Fund Corp increased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 1.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 123,340 shares of the financial services provider’s stock after acquiring an additional 1,597 shares during the period. Texas Permanent School Fund Corp’s holdings in East West Bancorp were worth $9,757,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of East West Bancorp by 5.1% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 114,889 shares of the financial services provider’s stock valued at $9,089,000 after acquiring an additional 5,565 shares in the last quarter. Whittier Trust Co. boosted its holdings in shares of East West Bancorp by 3.6% in the 1st quarter. Whittier Trust Co. now owns 229,438 shares of the financial services provider’s stock valued at $18,151,000 after buying an additional 7,924 shares during the last quarter. Jennison Associates LLC grew its stake in shares of East West Bancorp by 82.2% in the first quarter. Jennison Associates LLC now owns 1,687,555 shares of the financial services provider’s stock valued at $133,502,000 after buying an additional 761,347 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in East West Bancorp by 25.9% during the first quarter. Mutual of America Capital Management LLC now owns 109,630 shares of the financial services provider’s stock worth $8,673,000 after buying an additional 22,530 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of East West Bancorp by 25.5% in the 1st quarter. Nordea Investment Management AB now owns 32,543 shares of the financial services provider’s stock valued at $2,583,000 after purchasing an additional 6,610 shares during the period. Institutional investors own 89.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on EWBC. Barclays reduced their price objective on shares of East West Bancorp from $106.00 to $105.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Stephens boosted their price target on East West Bancorp from $85.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods lifted their target price on East West Bancorp from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Truist Financial reduced their target price on shares of East West Bancorp from $86.00 to $80.00 and set a “buy” rating for the company in a research report on Monday. Finally, Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of East West Bancorp in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.31.

East West Bancorp Price Performance

NASDAQ:EWBC traded up $0.21 during mid-day trading on Friday, reaching $75.98. The stock had a trading volume of 14,190 shares, compared to its average volume of 1,037,813. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.93. East West Bancorp, Inc. has a 12 month low of $49.59 and a 12 month high of $79.54. The stock has a market capitalization of $10.57 billion, a PE ratio of 9.54, a P/E/G ratio of 4.38 and a beta of 1.32. The stock has a 50-day simple moving average of $73.54 and a two-hundred day simple moving average of $73.57.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. The firm had revenue of $644.13 million for the quarter, compared to analysts’ expectations of $636.77 million. East West Bancorp had a return on equity of 17.43% and a net margin of 26.78%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.32 earnings per share. On average, equities analysts anticipate that East West Bancorp, Inc. will post 8.02 earnings per share for the current year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Thursday, May 2nd. East West Bancorp’s dividend payout ratio is 27.71%.

Insider Activity at East West Bancorp

In other East West Bancorp news, insider Irene H. Oh sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total transaction of $775,800.00. Following the sale, the insider now owns 127,193 shares of the company’s stock, valued at $9,867,632.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other East West Bancorp news, insider Irene H. Oh sold 10,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $77.58, for a total value of $775,800.00. Following the completion of the transaction, the insider now directly owns 127,193 shares in the company, valued at $9,867,632.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Douglas Paul Krause sold 8,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $73.76, for a total value of $590,080.00. Following the sale, the insider now owns 57,403 shares in the company, valued at $4,234,045.28. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

About East West Bancorp

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.