BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 15.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,913 shares of the financial services provider’s stock after buying an additional 13,816 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.07% of East West Bancorp worth $6,212,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Toronto Dominion Bank bought a new stake in shares of East West Bancorp during the second quarter worth approximately $104,000. Strs Ohio bought a new stake in shares of East West Bancorp during the second quarter worth approximately $110,000. San Francisco Sentry Investment Group CA bought a new stake in shares of East West Bancorp during the second quarter worth approximately $138,000. D.A. Davidson & CO. raised its stake in shares of East West Bancorp by 1.0% during the second quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock worth $146,000 after buying an additional 26 shares during the last quarter. Finally, Americafirst Capital Management LLC bought a new stake in shares of East West Bancorp during the second quarter worth approximately $149,000. 91.41% of the stock is owned by institutional investors and hedge funds.
Shares of East West Bancorp, Inc. (NASDAQ:EWBC) opened at $60.03 on Wednesday. East West Bancorp, Inc. has a 12 month low of $48.07 and a 12 month high of $63.92. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.13. The company has a market cap of $8,633.55, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 1.63 and a beta of 1.46.
East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.89 EPS for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $349.28 million. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The business’s quarterly revenue was up 15.0% on a year-over-year basis. equities research analysts forecast that East West Bancorp, Inc. will post 3.49 EPS for the current fiscal year.
The company 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. This represents a $0.80 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Tuesday, October 31st. East West Bancorp’s payout ratio is presently 21.98%.
In other news, Director Rudolph Estrada sold 1,916 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $55.97, for a total transaction of $107,238.52. Following the completion of the sale, the director now owns 15,475 shares of the company’s stock, valued at $866,135.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack C. Liu sold 2,200 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $58.07, for a total transaction of $127,754.00. Following the sale, the director now directly owns 23,599 shares of the company’s stock, valued at approximately $1,370,393.93. The disclosure for this sale can be found here. Insiders sold 14,116 shares of company stock valued at $844,993 in the last ninety days. Insiders own 0.88% of the company’s stock.
Separately, Zacks Investment Research downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $64.90.
East West Bancorp Company 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.
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