East West Bancorp, Inc. (EWBC) Stake Lifted by FDx Advisors Inc.

FDx Advisors Inc. grew its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 30.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 17,498 shares of the financial services provider’s stock after acquiring an additional 4,071 shares during the quarter. FDx Advisors Inc.’s holdings in East West Bancorp were worth $1,046,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in shares of East West Bancorp by 156.1% in the 2nd quarter. Royal Bank of Canada now owns 72,735 shares of the financial services provider’s stock valued at $4,260,000 after acquiring an additional 44,336 shares during the last quarter. Dai Ichi Life Insurance Company Ltd increased its holdings in shares of East West Bancorp by 113.8% in the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 96,514 shares of the financial services provider’s stock valued at $5,654,000 after acquiring an additional 51,378 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of East West Bancorp by 4.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 52,762 shares of the financial services provider’s stock valued at $3,091,000 after acquiring an additional 2,275 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of East West Bancorp by 352.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,516 shares of the financial services provider’s stock valued at $1,378,000 after acquiring an additional 18,321 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of East West Bancorp by 128.7% in the 2nd quarter. Principal Financial Group Inc. now owns 2,951,316 shares of the financial services provider’s stock valued at $172,888,000 after acquiring an additional 1,660,844 shares during the last quarter. Institutional investors and hedge funds own 90.58% of the company’s stock.

East West Bancorp, Inc. (NASDAQ:EWBC) opened at $57.40 on Thursday. East West Bancorp, Inc. has a 12 month low of $45.52 and a 12 month high of $61.90. The firm has a market capitalization of $8,272.19, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 1.56 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 announced its earnings results 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. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The company had revenue of $348.97 million for the quarter, compared to the consensus estimate of $349.28 million. During the same period last year, the business posted $0.76 EPS. The company’s revenue was up 15.0% on a year-over-year basis. equities research analysts predict that East West Bancorp, Inc. will post 3.49 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid a $0.20 dividend. The ex-dividend date was Tuesday, October 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.39%. East West Bancorp’s dividend payout ratio (DPR) is currently 21.98%.

A number of research analysts recently issued reports on EWBC shares. Piper Jaffray Companies set a $74.00 price target on East West Bancorp and gave the stock a “buy” rating in a research note on Saturday, October 21st. Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Tuesday, October 24th. SunTrust Banks, Inc. restated a “buy” rating and set a $65.00 price target on shares of East West Bancorp in a research note on Thursday, October 12th. DA Davidson restated a “hold” rating and set a $63.00 price target on shares of East West Bancorp in a research note on Friday, October 20th. Finally, Wedbush restated an “outperform” rating and set a $66.00 price target (down previously from $68.00) on shares of East West Bancorp in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $64.60.

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In other East West Bancorp news, Director Rudolph Estrada sold 1,916 shares of East West Bancorp stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $55.97, for a total value of $107,238.52. Following the transaction, the director now directly owns 15,475 shares in the company, valued at approximately $866,135.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herman Y. Li sold 10,000 shares of East West Bancorp stock in a transaction that occurred 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 $2,447,930. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.

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.

Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

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