Columbus Circle Investors decreased its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 250,872 shares of the financial services provider’s stock after selling 6,352 shares during the quarter. Columbus Circle Investors owned 0.17% of East West Bancorp worth $14,997,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of EWBC. Renaissance Technologies LLC grew its position in East West Bancorp by 58.1% during the 1st quarter. Renaissance Technologies LLC now owns 117,233 shares of the financial services provider’s stock worth $6,050,000 after purchasing an additional 43,100 shares in the last quarter. Capstone Asset Management Co. grew its position in East West Bancorp by 8.3% during the 2nd quarter. Capstone Asset Management Co. now owns 11,704 shares of the financial services provider’s stock worth $686,000 after purchasing an additional 900 shares in the last quarter. Bank of Montreal Can grew its position in East West Bancorp by 14.1% during the 2nd quarter. Bank of Montreal Can now owns 83,581 shares of the financial services provider’s stock worth $4,897,000 after purchasing an additional 10,300 shares in the last quarter. Mn Services Vermogensbeheer B.V. purchased a new position in East West Bancorp during the 2nd quarter worth approximately $1,371,000. Finally, Oregon Public Employees Retirement Fund grew its position in East West Bancorp by 4.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 52,762 shares of the financial services provider’s stock worth $3,091,000 after purchasing an additional 2,275 shares in the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.
East West Bancorp, Inc. (NASDAQ:EWBC) traded up $0.68 during mid-day trading on Monday, hitting $57.90. 814,200 shares of the company traded hands, compared to its average volume of 933,454. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.99 and a current ratio of 0.99. East West Bancorp, Inc. has a 1-year low of $45.80 and a 1-year high of $61.90. The firm has a market cap of $8,369.03, a price-to-earnings ratio of 17.33, a PEG ratio of 1.58 and a beta of 1.47.
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 (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.03. East West Bancorp had a net margin of 34.75% and a return on equity of 13.51%. The business had revenue of $348.97 million during the quarter, compared to analyst estimates of $349.28 million. During the same quarter in the previous year, the business earned $0.76 EPS. East West Bancorp’s quarterly revenue was up 15.0% compared to the same quarter last year. sell-side analysts anticipate that East West Bancorp, Inc. will post 3.49 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Tuesday, October 31st. East West Bancorp’s payout ratio is presently 21.98%.
EWBC has been the topic of several research analyst reports. Zacks Investment Research cut shares of East West Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. Piper Jaffray Companies set a $74.00 price objective on shares of East West Bancorp and gave the stock a “buy” rating in a research report on Saturday, October 21st. Wedbush reiterated an “outperform” rating and set a $66.00 price objective (down from $68.00) on shares of East West Bancorp in a research report on Friday, October 20th. Morgan Stanley reiterated an “equal weight” rating and set a $63.00 price objective (up from $61.00) on shares of East West Bancorp in a research report on Wednesday, October 4th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and set a $65.00 target price on shares of East West Bancorp in a research note on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $64.60.
In other East West Bancorp news, Director Herman Y. Li sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $61.00, for a total transaction of $610,000.00. Following the completion of the transaction, the director now owns 40,130 shares of the company’s stock, valued at approximately $2,447,930. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rudolph Estrada sold 1,916 shares of the business’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 transaction, the director now directly owns 15,475 shares of the company’s stock, valued at approximately $866,135.75. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.
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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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