Signition LP acquired a new stake in East West Bancorp, Inc. (NASDAQ:EWBC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,930 shares of the financial services provider’s stock, valued at approximately $239,000.
A number of other institutional investors have also recently made changes to their positions in EWBC. Toronto Dominion Bank bought a new stake in East West Bancorp in the second quarter valued at about $104,000. National Pension Service bought a new stake in East West Bancorp in the fourth quarter valued at about $116,000. Contravisory Investment Management Inc. bought a new stake in East West Bancorp in the fourth quarter valued at about $129,000. Field & Main Bank bought a new stake in East West Bancorp in the fourth quarter valued at about $146,000. Finally, Advisor Partners LLC bought a new stake in East West Bancorp in the fourth quarter valued at about $213,000. 90.90% of the stock is owned by hedge funds and other institutional investors.
East West Bancorp, Inc. (EWBC) opened at $66.95 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 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 $69.25. The company has a market capitalization of $9,359.15, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 1.40 and a beta of 1.45.
East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.04). The business had revenue of $365.06 million for the quarter, compared to analyst estimates of $359.43 million. East West Bancorp had a return on equity of 8.93% and a net margin of 23.26%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 earnings per share. equities research analysts predict that East West Bancorp, Inc. will post 4.4 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, February 5th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, February 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. East West Bancorp’s dividend payout ratio is presently 23.12%.
Several brokerages recently weighed in on EWBC. Zacks Investment Research lowered East West Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Deutsche Bank upgraded East West Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, February 6th. ValuEngine upgraded East West Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Morgan Stanley lifted their target price on East West Bancorp from $69.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. East West Bancorp presently has an average rating of “Hold” and an average price target of $69.50.
In other news, Director Jack C. Liu sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $58.07, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Douglas Paul Krause sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $61.26, for a total value of $306,300.00. Following the transaction, the insider now owns 18,015 shares of the company’s stock, valued at $1,103,598.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,200 shares of company stock valued at $704,434. Insiders own 0.88% of the company’s stock.
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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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