Cetera Investment Advisers lifted its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 40.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,756 shares of the financial services provider’s stock after purchasing an additional 1,929 shares during the quarter. Cetera Investment Advisers’ holdings in East West Bancorp were worth $406,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in EWBC. Strs Ohio acquired a new stake in shares of East West Bancorp during the 2nd quarter worth $110,000. Daiwa Securities Group Inc. acquired a new stake in shares of East West Bancorp during the 2nd quarter worth $249,000. Sei Investments Co. grew its holdings in shares of East West Bancorp by 38.8% during the 2nd quarter. Sei Investments Co. now owns 94,411 shares of the financial services provider’s stock worth $5,531,000 after purchasing an additional 26,403 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of East West Bancorp by 126.0% during the 2nd quarter. IFP Advisors Inc now owns 2,857 shares of the financial services provider’s stock worth $167,000 after purchasing an additional 1,593 shares in the last quarter. Finally, Pictet Asset Management Ltd. acquired a new stake in shares of East West Bancorp during the 2nd quarter worth $2,671,000. 91.41% of the stock is currently owned by institutional investors.
Shares of East West Bancorp, Inc. (NASDAQ EWBC) opened at $58.91 on Friday. 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 1 year low of $48.07 and a 1 year high of $63.92. The firm has a market capitalization of $8,676.91, a price-to-earnings ratio of 17.97, a P/E/G ratio of 1.64 and a beta of 1.46.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.03. The business had revenue of $348.97 million during the quarter, compared to the consensus estimate of $349.28 million. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. East West Bancorp’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.76 EPS. analysts predict that East West Bancorp, Inc. will post 3.49 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $0.80 annualized dividend and a yield of 1.36%. East West Bancorp’s dividend payout ratio is presently 21.98%.
Several analysts have recently issued reports on the company. Piper Jaffray Companies set a $74.00 target price on East West Bancorp and gave the stock a “buy” rating in a report on Saturday, October 21st. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Tuesday, October 24th. Morgan Stanley increased their target price on East West Bancorp from $61.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday. SunTrust Banks restated a “buy” rating and set a $65.00 price objective on shares of East West Bancorp in a research report on Thursday, October 12th. Finally, DA Davidson restated a “hold” rating and set a $63.00 price objective on shares of East West Bancorp in a research report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $65.50.
In other East West Bancorp news, Director Rudolph Estrada sold 1,916 shares of the stock in a transaction dated 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 transaction, the director now directly owns 15,475 shares in the company, valued at $866,135.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Herman Y. Li sold 10,000 shares of the 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 completion of the transaction, the director now owns 40,130 shares of the company’s stock, valued at $2,447,930. The disclosure for this sale can be found here. Insiders sold 14,116 shares of company stock valued at $844,993 over the last quarter. Corporate 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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