Oppenheimer Asset Management Inc. acquired a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,340 shares of the financial services provider’s stock, valued at approximately $202,000.
A number of other large investors have also recently made changes to their positions in EWBC. Bank of New York Mellon Corp raised its holdings in East West Bancorp by 15.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,771,173 shares of the financial services provider’s stock worth $311,079,000 after purchasing an additional 627,329 shares during the last quarter. Ferguson Wellman Capital Management Inc. bought a new stake in East West Bancorp during the 2nd quarter worth about $23,593,000. Smith Asset Management Group LP raised its holdings in East West Bancorp by 107.6% during the 2nd quarter. Smith Asset Management Group LP now owns 482,760 shares of the financial services provider’s stock worth $31,476,000 after purchasing an additional 250,170 shares during the last quarter. BlackRock Inc. raised its holdings in East West Bancorp by 1.3% during the 2nd quarter. BlackRock Inc. now owns 14,631,834 shares of the financial services provider’s stock worth $953,998,000 after purchasing an additional 181,572 shares during the last quarter. Finally, BTIM Corp. bought a new stake in East West Bancorp during the 2nd quarter worth about $10,356,000. 87.74% of the stock is owned by hedge funds and other institutional investors.
Shares of EWBC stock opened at $54.00 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $7.94 billion, a PE ratio of 12.59, a P/E/G ratio of 1.13 and a beta of 1.37. East West Bancorp, Inc. has a one year low of $50.34 and a one year high of $73.98.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.03. The company had revenue of $395.22 million during the quarter, compared to analysts’ expectations of $398.25 million. East West Bancorp had a return on equity of 15.70% and a net margin of 34.80%. During the same period in the prior year, the business posted $0.91 EPS. As a group, sell-side analysts expect that East West Bancorp, Inc. will post 4.63 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be paid a $0.23 dividend. The ex-dividend date is Wednesday, October 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.70%. East West Bancorp’s dividend payout ratio (DPR) is presently 26.59%.
Several analysts have weighed in on EWBC shares. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Tuesday, July 24th. Piper Jaffray Companies set a $82.00 price objective on East West Bancorp and gave the stock a “buy” rating in a report on Thursday, July 19th. Wells Fargo & Co set a $76.00 price objective on East West Bancorp and gave the stock a “buy” rating in a report on Tuesday, October 2nd. DA Davidson raised East West Bancorp from a “neutral” rating to a “buy” rating in a research note on Monday, October 22nd. Finally, Morgan Stanley upped their price target on East West Bancorp from $74.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. East West Bancorp currently has a consensus rating of “Buy” and an average price target of $71.67.
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East West Bancorp Profile
East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.
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