Bank of New York Mellon Corp Grows Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Bank of New York Mellon Corp boosted its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 6.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,249,813 shares of the financial services provider’s stock after purchasing an additional 133,315 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.56% of East West Bancorp worth $134,494,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of EWBC. Royal Bank of Canada boosted its position in shares of East West Bancorp by 156.1% during the 2nd quarter. Royal Bank of Canada now owns 72,735 shares of the financial services provider’s stock valued at $4,260,000 after acquiring an additional 44,336 shares during the last quarter. Dai Ichi Life Insurance Company Ltd boosted its position in shares of East West Bancorp by 113.8% during the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 96,514 shares of the financial services provider’s stock valued at $5,654,000 after acquiring an additional 51,378 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of East West Bancorp by 4.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 52,762 shares of the financial services provider’s stock valued at $3,091,000 after acquiring an additional 2,275 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of East West Bancorp by 352.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,516 shares of the financial services provider’s stock valued at $1,378,000 after acquiring an additional 18,321 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of East West Bancorp by 128.7% during the 2nd quarter. Principal Financial Group Inc. now owns 2,951,316 shares of the financial services provider’s stock valued at $172,888,000 after acquiring an additional 1,660,844 shares during the last quarter. Institutional investors and hedge funds own 91.41% of the company’s stock.

Separately, Zacks Investment Research downgraded East West Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. East West Bancorp currently has an average rating of “Hold” and a consensus price target of $64.90.

In other news, Director Herman Y. Li sold 10,000 shares of East West Bancorp stock in a transaction that occurred on Tuesday, October 24th. The stock was 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 in the company, valued at approximately $2,447,930. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Rudolph Estrada sold 1,916 shares of East West Bancorp stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $55.97, for a total value of $107,238.52. Following the completion of the sale, the director now owns 15,475 shares in the company, valued at $866,135.75. The disclosure for this sale can be found here. Insiders sold a total of 14,116 shares of company stock worth $844,993 over the last ninety days. Insiders own 0.88% of the company’s stock.

Shares of East West Bancorp, Inc. (EWBC) traded up $0.45 during midday trading on Thursday, hitting $60.20. The company had a trading volume of 644,822 shares, compared to its average volume of 925,273. The stock has a market cap of $8,734.73, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.65 and a beta of 1.46. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.13. East West Bancorp, Inc. has a 52 week low of $48.07 and a 52 week high of $63.92.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.03. The business had revenue of $348.97 million for the quarter, compared to analysts’ expectations of $349.28 million. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 EPS. sell-side analysts anticipate that East West Bancorp, Inc. will post 3.49 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid 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 yield of 1.33%. East West Bancorp’s dividend payout ratio (DPR) is currently 21.98%.

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East West Bancorp Company 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.

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

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