Dynamic Technology Lab Private Ltd grew its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 327.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,401 shares of the financial services provider’s stock after acquiring an additional 12,563 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in East West Bancorp were worth $981,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in EWBC. Toronto Dominion Bank bought a new stake in East West Bancorp during the 2nd quarter valued at approximately $104,000. Strs Ohio bought a new stake in East West Bancorp in the 2nd quarter worth approximately $110,000. San Francisco Sentry Investment Group CA bought a new stake in East West Bancorp in the 2nd quarter worth approximately $138,000. D.A. Davidson & CO. increased its stake in East West Bancorp by 1.0% in the 2nd quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 26 shares during the last quarter. Finally, Americafirst Capital Management LLC bought a new stake in East West Bancorp in the 2nd quarter worth approximately $149,000. 91.41% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research cut East West Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $64.90.
East West Bancorp, Inc. (NASDAQ EWBC) opened at $60.20 on Friday. The firm has a market capitalization of $8,734.73, a P/E ratio of 18.09, a PEG ratio of 1.65 and a beta of 1.46. East West Bancorp, Inc. has a 1 year low of $48.07 and a 1 year high of $63.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.99 and a quick ratio of 0.99.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.86 by $0.03. The firm had revenue of $348.97 million during 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 revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 earnings per share. sell-side analysts expect that East West Bancorp, Inc. will post 3.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, October 31st. This represents a $0.80 annualized dividend and a yield of 1.33%. East West Bancorp’s dividend payout ratio (DPR) is 21.98%.
In related news, Director Jack C. Liu sold 2,200 shares of East West Bancorp stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $58.07, for a total value of $127,754.00. Following the completion of the transaction, the director now directly owns 23,599 shares in the company, valued at $1,370,393.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rudolph Estrada sold 1,916 shares of East West Bancorp stock in a transaction on Monday, September 18th. The shares were sold at an average price of $55.97, for a total value of $107,238.52. Following the completion of the transaction, the director now owns 15,475 shares of the company’s stock, valued at $866,135.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,116 shares of company stock valued at $844,993. Company insiders own 0.88% of the company’s stock.
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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.
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