The Vanguard Group, Inc. has recently announced that it has increased stake in East West Bancorp Inc. (NASDAQ:EWBC) by 0.54%. After grabbing 13.9 million shares, the institutional investor is now in possession of 74543.0 shares of the Financial Company. The new investment brought the stake of investor firm to 9.87% having worth around $995.17 million. Moreover, Capital Research & Management Co increased its share by 0.34 million to have a control over 12.19 million shares. And Boston Partners Global Investors, raised its holdings to 0.38 million shares by acquiring 5.92 million shares or 4.20% of the stake.
East West Bancorp Inc. (EWBC) concluded trading on 11/23/22 at a closing price of $69.16, with 0.48 million shares of worth about $33.04 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -2.05% during that period and on Wednesday the price saw a loss of about -0.56%. Currently the company’s common shares owned by public are about 140.92M shares, out of which, 139.79M shares are available for trading.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 29 times over the past 12 months. They bought 241,734 shares in 19 of the transactions. In 10 selling transactions, insiders dumped 102,898 shares.
American Balanced Fund, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in East West Bancorp Inc. American Balanced Fund is currently holding 4.92 million shares of worth totaling $352.07 million. The company recently came buying 0.0 shares which brought its stake up to 3.49% of the company’s outstanding shares. iShares Core S&P Mid Cap ETF bought 1646.0 shares, after which its hold over company’s outstanding shares expand to 3.01%, leaving 4.23 million shares with the mutual fund that have a worth of about $303.09 million. Vanguard Total Stock Market Index, after buying 4.22 million shares, have now control over 3.00% of the stake in the company. It holds 23508.0 shares of worth $302.23 million.
East West Bancorp Inc. (NASDAQ: EWBC) started trading at $69.25, below -$0.3 from concluding price of the previous day. However, the stock later moved at a day high price of 69.68, or with a loss of -0.56%. Stock saw a price change of 0.58% in past 5 days and over the past one month there was a price change of 1.02%. Year-to-date (YTD), EWBC shares are showing a performance of -12.10% which decreased to -17.75% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $61.65 but also hit the highest price of $93.51 during that period. The average intraday trading volume for East West Bancorp Inc. shares is 828.77K. The stock is currently trading -1.35% below its 20-day simple moving average (SMA20), while that difference is down -1.52% for SMA50 and it goes to -5.81% lower than SMA200.
The Vanguard Group, Inc. acquired 13.9 million shares of East West Bancorp Inc. having value of about $995.17 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 74543.0 shares in the company valued at close to $5155393.88, or have control over 0.54% stake in the company. East West Bancorp Inc. (NASDAQ: EWBC) currently have 140.92M outstanding shares and institutions hold larger chunk of about 90.90% of that. Holding of mutual funds in the company is about 28.16% while other institutional holders and individual stake holders have control over 62.03% and 2.64% of the stake respectively.
The stock has a current market capitalization of $9.76B and its 3Y-monthly beta is at 1.43. PE ratio of stock for trailing 12 months is 9.78, while it has posted earnings per share of $7.07 in the same period. Its PEG reads 1.22 while making debt-to-equity ratio of 0.03. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for EWBC, volatility over the week remained 2.45% while standing at 2.94% over the month.
Analysts are in expectations that East West Bancorp Inc. (EWBC) stock would likely to be making an EPS of $2.22 in the current quarter, while forecast for next quarter EPS is $2.13 and it is $8.78 for next year. For the current quarter EPS, analysts have given the company a lowest target $2.13 which is $2.34 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.52 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 53.60% while it is estimated to increase by 13.02% in next year. EPS is likely to shrink at an annualized rate of 8.00% for next 5-years, compared to annual growth of 15.40% made by the stock over the past 5-years.
Analysts at 10 brokerage firms have issued recommendations for the East West Bancorp Inc. (EWBC)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.80. Out of those 10 Wall Street analysts, 8 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wedbush on June 30, 2022 offering a Neutral rating for the stock and assigned a target price of $75 to it. Coverage by Wells Fargo stated East West Bancorp Inc. (EWBC) stock as an Overweight in their note to investors on October 07, 2021, suggesting a price target of $95 for the stock. On September 07, 2021, Keefe Bruyette Upgrade their recommendations, while on August 11, 2021, Compass Point Upgrade their ratings for the stock with a price target of $86. Stock get a Buy rating from Truist on June 21, 2021.