Great West Life Assurance Co. Can Sells 1,720 Shares of East West Bancorp, Inc. (EWBC)

Great West Life Assurance Co. Can trimmed its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 134,330 shares of the financial services provider’s stock after selling 1,720 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.09% of East West Bancorp worth $7,960,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. lifted its holdings in East West Bancorp by 11.5% during the second quarter. BlackRock Inc. now owns 13,329,464 shares of the financial services provider’s stock valued at $780,841,000 after purchasing an additional 1,373,528 shares in the last quarter. Vanguard Group Inc. lifted its holdings in East West Bancorp by 7.5% during the second quarter. Vanguard Group Inc. now owns 12,734,214 shares of the financial services provider’s stock valued at $745,971,000 after purchasing an additional 893,764 shares in the last quarter. State Street Corp lifted its holdings in East West Bancorp by 16.5% during the second quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock valued at $415,902,000 after purchasing an additional 1,004,860 shares in the last quarter. Boston Partners lifted its holdings in East West Bancorp by 0.8% during the third quarter. Boston Partners now owns 6,619,308 shares of the financial services provider’s stock valued at $395,702,000 after purchasing an additional 50,476 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in East West Bancorp by 4.2% during the third quarter. Macquarie Group Ltd. now owns 4,440,696 shares of the financial services provider’s stock valued at $265,465,000 after purchasing an additional 178,496 shares in the last quarter. Institutional investors own 91.41% of the company’s stock.

Several brokerages have weighed in on EWBC. SunTrust Banks reaffirmed a “buy” rating and set a $68.00 price target on shares of East West Bancorp in a report on Wednesday, November 29th. Zacks Investment Research downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Piper Jaffray Companies set a $74.00 price target on shares of East West Bancorp and gave the company a “buy” rating in a report on Saturday, October 21st. BMO Capital Markets lifted their price target on shares of East West Bancorp from $61.00 to $63.00 and gave the company a “market perform” rating in a report on Friday, October 20th. Finally, Barclays set a $66.00 price target on shares of East West Bancorp and gave the company a “buy” rating in a report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $64.90.

East West Bancorp, Inc. (NASDAQ:EWBC) opened at $59.75 on Thursday. East West Bancorp, Inc. has a 1-year low of $48.07 and a 1-year high of $63.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $8,660.00, a price-to-earnings ratio of 18.62, a PEG ratio of 1.69 and a beta of 1.46.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.89 EPS for the quarter, topping 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 firm had revenue of $348.97 million for the quarter, compared to the consensus estimate of $349.28 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. research analysts expect that East West Bancorp, Inc. will post 3.49 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Tuesday, October 31st. East West Bancorp’s dividend payout ratio (DPR) is presently 21.92%.

In other 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 value of $610,000.00. Following the transaction, the director now owns 40,130 shares of the company’s stock, valued at $2,447,930. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 completion of the transaction, the director now directly owns 15,475 shares in the company, valued at approximately $866,135.75. The disclosure for this sale can be found here. Insiders sold 14,116 shares of company stock worth $844,993 in the last three months. 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.

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

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