Csenge Advisory Group acquired a new position in East West Bancorp, Inc. (NASDAQ:EWBC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,882 shares of the financial services provider’s stock, valued at approximately $411,000.
A number of other hedge funds also recently made changes to their positions in the stock. Toronto Dominion Bank acquired a new position in East West Bancorp during the second quarter worth $104,000. Strs Ohio purchased a new stake in East West Bancorp in the second quarter valued at $110,000. San Francisco Sentry Investment Group CA purchased a new stake in East West Bancorp in the second quarter valued at $138,000. D.A. Davidson & CO. raised its position in East West Bancorp by 1.0% in the second quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 26 shares during the period. Finally, Americafirst Capital Management LLC purchased a new stake in shares of East West Bancorp in the 2nd quarter valued at $149,000. Institutional investors own 90.58% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Monday, July 31st. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $65.00 price objective on shares of East West Bancorp in a research report on Thursday, October 12th. Barclays PLC set a $66.00 price objective on East West Bancorp and gave the stock a “buy” rating in a research report on Friday, October 20th. Piper Jaffray Companies set a $74.00 price objective on East West Bancorp and gave the stock a “buy” rating in a research report on Saturday, October 21st. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $63.00 target price (up from $61.00) on shares of East West Bancorp in a research report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. East West Bancorp currently has an average rating of “Hold” and a consensus price target of $64.60.
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In other news, Director Rudolph Estrada sold 1,916 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $55.97, for a total transaction of $107,238.52. Following the sale, the director now owns 15,475 shares in the company, valued at $866,135.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Herman Y. Li sold 10,000 shares of East West Bancorp stock in a transaction on 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 in the company, valued at approximately $2,447,930. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.
East West Bancorp, Inc. (NASDAQ EWBC) traded down $0.11 during midday trading on Monday, reaching $56.66. The company had a trading volume of 794,900 shares, compared to its average volume of 936,036. East West Bancorp, Inc. has a 12-month low of $43.09 and a 12-month high of $61.90. The stock has a market cap of $8,189.80, a P/E ratio of 16.96, a P/E/G ratio of 1.54 and a beta of 1.47. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.13.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.89 earnings per share 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 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 quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the business posted $0.76 EPS. equities research analysts anticipate that East West Bancorp, Inc. will post 3.49 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Tuesday, October 31st. East West Bancorp’s dividend payout ratio (DPR) is presently 21.98%.
About East West Bancorp
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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