Cadence Capital Management LLC raised its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 407.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,705 shares of the financial services provider’s stock after purchasing an additional 22,248 shares during the period. Cadence Capital Management LLC’s holdings in East West Bancorp were worth $1,685,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in EWBC. State Street Corp grew its holdings in East West Bancorp by 16.5% during the 2nd quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock worth $415,902,000 after acquiring an additional 1,004,860 shares during the period. Janus Henderson Group PLC grew its stake in shares of East West Bancorp by 66.8% in the 3rd quarter. Janus Henderson Group PLC now owns 983,340 shares of the financial services provider’s stock valued at $58,784,000 after buying an additional 393,861 shares during the period. Hahn Capital Management LLC acquired a new position in East West Bancorp during the 2nd quarter valued at about $21,380,000. Jennison Associates LLC boosted its stake in East West Bancorp by 11.3% during the 4th quarter. Jennison Associates LLC now owns 2,916,015 shares of the financial services provider’s stock valued at $177,381,000 after purchasing an additional 294,977 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in East West Bancorp by 29.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,296,562 shares of the financial services provider’s stock valued at $78,870,000 after purchasing an additional 294,791 shares during the last quarter. 90.90% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on EWBC. DA Davidson reiterated a “hold” rating and set a $63.00 price target on shares of East West Bancorp in a research note on Friday, October 20th. Piper Jaffray Companies set a $74.00 target price on shares of East West Bancorp and gave the stock a “buy” rating in a research report on Saturday, October 21st. BidaskClub raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Zacks Investment Research cut shares of East West Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Finally, Sandler O’Neill reaffirmed a “buy” rating and issued a $69.00 price target on shares of East West Bancorp in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $69.50.
In other East West Bancorp news, Director Jack C. Liu sold 2,200 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $58.07, for a total value of $127,754.00. Following the sale, the director now owns 23,599 shares in the company, valued at $1,370,393.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Douglas Paul Krause sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $61.26, for a total transaction of $306,300.00. Following the completion of the sale, the insider now owns 18,015 shares in the company, valued at approximately $1,103,598.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,200 shares of company stock valued at $704,434. Insiders own 0.88% of the company’s stock.
Shares of East West Bancorp, Inc. (EWBC) traded up $0.03 during trading hours on Friday, reaching $66.85. 694,959 shares of the company traded hands, compared to its average volume of 857,210. East West Bancorp, Inc. has a one year low of $48.07 and a one year high of $69.25. The stock has a market capitalization of $9,670.00, a price-to-earnings ratio of 19.27, a PEG ratio of 1.45 and a beta of 1.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.00 and a quick ratio of 1.00.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.04). The business had revenue of $365.06 million during the quarter, compared to the consensus estimate of $359.43 million. East West Bancorp had a return on equity of 13.56% and a net margin of 31.93%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 earnings per share. equities analysts predict that East West Bancorp, Inc. will post 4.4 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Friday, February 2nd. East West Bancorp’s dividend payout ratio (DPR) is 23.05%.
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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