Columbia Partners L L C Investment Management bought a new position in East West Bancorp, Inc. (NASDAQ:EWBC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 21,229 shares of the financial services provider’s stock, valued at approximately $1,269,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in EWBC. Toronto Dominion Bank acquired a new position in East West Bancorp in the 2nd quarter worth $104,000. Strs Ohio bought a new stake in East West Bancorp during the 2nd quarter worth about $110,000. San Francisco Sentry Investment Group CA bought a new stake in East West Bancorp during the 2nd quarter worth about $138,000. D.A. Davidson & CO. lifted its position in East West Bancorp by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock worth $146,000 after buying an additional 26 shares in the last quarter. Finally, Americafirst Capital Management LLC bought a new stake in East West Bancorp during the 2nd quarter worth about $149,000. 90.58% of the stock is owned by hedge funds and other institutional investors.
EWBC has been the topic of several analyst reports. Zacks Investment Research raised shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Monday, July 31st. SunTrust Banks, Inc. reissued a “buy” rating and set a $65.00 price target on shares of East West Bancorp in a research report on Thursday, October 12th. Barclays PLC set a $66.00 price target on shares of East West Bancorp and gave the stock a “buy” rating in a research report on Friday, October 20th. Piper Jaffray Companies set a $74.00 price target on shares of East West Bancorp and gave the stock a “buy” rating in a research report on Saturday, October 21st. Finally, Morgan Stanley reissued an “equal weight” rating and set a $63.00 price target (up from $61.00) on shares of East West Bancorp in a research report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $64.60.
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Shares of East West Bancorp, Inc. (EWBC) traded up $0.68 during mid-day trading on Friday, hitting $57.90. 595,893 shares of the stock were exchanged, compared to its average volume of 886,752. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $8,369.04, a PE ratio of 17.34, a price-to-earnings-growth ratio of 1.58 and a beta of 1.47. East West Bancorp, Inc. has a 12 month low of $45.80 and a 12 month high of $61.90.
East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.03. The company had revenue of $348.97 million for the quarter, compared to analysts’ expectations of $349.28 million. East West Bancorp had a net margin of 34.75% and a return on equity of 13.51%. East West Bancorp’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 EPS. research analysts anticipate that East West Bancorp, Inc. will post 3.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.38%. East West Bancorp’s payout ratio is 21.98%.
In other news, Director Herman Y. Li sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $61.00, for a total value of $610,000.00. Following the sale, the director now directly owns 40,130 shares of the company’s stock, valued at approximately $2,447,930. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Rudolph Estrada sold 1,916 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $55.97, for a total transaction of $107,238.52. Following the completion of the sale, the director now directly owns 15,475 shares in the company, valued at $866,135.75. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.
East West Bancorp Profile
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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