Alps Advisors Inc. lessened its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 34.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,909 shares of the financial services provider’s stock after selling 6,253 shares during the quarter. Alps Advisors Inc.’s holdings in East West Bancorp were worth $724,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Boston Partners grew its holdings in shares of East West Bancorp by 3.2% during the 4th quarter. Boston Partners now owns 6,828,822 shares of the financial services provider’s stock worth $415,397,000 after purchasing an additional 209,514 shares during the period. Macquarie Group Ltd. grew its holdings in shares of East West Bancorp by 4.2% during the 3rd quarter. Macquarie Group Ltd. now owns 4,440,696 shares of the financial services provider’s stock worth $265,465,000 after purchasing an additional 178,496 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of East West Bancorp by 1.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,395,572 shares of the financial services provider’s stock worth $260,261,000 after purchasing an additional 62,345 shares during the period. Lord Abbett & CO. LLC grew its holdings in shares of East West Bancorp by 3.7% during the 2nd quarter. Lord Abbett & CO. LLC now owns 3,676,165 shares of the financial services provider’s stock worth $215,350,000 after purchasing an additional 132,152 shares during the period. Finally, Principal Financial Group Inc. lifted its position in East West Bancorp by 2.1% during the 3rd quarter. Principal Financial Group Inc. now owns 3,012,281 shares of the financial services provider’s stock worth $180,074,000 after acquiring an additional 60,965 shares in the last quarter. Hedge funds and other institutional investors own 91.11% of the company’s stock.
Shares of East West Bancorp, Inc. (EWBC) opened at $66.85 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $9,662.69, a price-to-earnings ratio of 19.32, a PEG ratio of 1.45 and a beta of 1.45. East West Bancorp, Inc. has a twelve month low of $48.07 and a twelve month high of $69.25.
East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.87 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.04). The company had revenue of $365.06 million for the quarter, compared to analysts’ expectations of $359.43 million. East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.76 earnings per share. analysts forecast that East West Bancorp, Inc. will post 4.4 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Friday, February 2nd. East West Bancorp’s dividend payout ratio is currently 23.12%.
Several equities analysts recently commented on EWBC shares. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Monday, January 8th. Morgan Stanley boosted their price target on East West Bancorp from $61.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. BidaskClub raised East West Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. SunTrust Banks reaffirmed a “buy” rating and issued a $68.00 target price on shares of East West Bancorp in a research report on Wednesday, November 29th. Finally, Barclays upped their target price on East West Bancorp from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $69.50.
In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $68.50, for a total value of $137,000.00. Following the transaction, the director now directly owns 21,599 shares of the company’s stock, valued at approximately $1,479,531.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jack C. Liu sold 2,200 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $58.07, for a total value of $127,754.00. Following the completion of the transaction, the director now directly owns 23,599 shares in the company, valued at $1,370,393.93. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,200 shares of company stock valued at $704,434. Company insiders own 0.88% of the company’s stock.
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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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