First Trust Advisors LP lessened its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 42.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 632,055 shares of the financial services provider’s stock after selling 464,811 shares during the quarter. First Trust Advisors LP’s holdings in East West Bancorp were worth $38,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Toronto Dominion Bank purchased a new position in shares of East West Bancorp during the 2nd quarter worth $104,000. National Pension Service purchased a new position in shares of East West Bancorp during the 4th quarter worth $116,000. Contravisory Investment Management Inc. purchased a new position in shares of East West Bancorp during the 4th quarter worth $129,000. Field & Main Bank purchased a new position in shares of East West Bancorp during the 4th quarter worth $146,000. Finally, Advisor Partners LLC purchased a new position in shares of East West Bancorp during the 4th quarter worth $213,000. Institutional investors and hedge funds own 91.11% of the company’s stock.
East West Bancorp, Inc. (NASDAQ EWBC) opened at $66.85 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $9,662.69, a price-to-earnings ratio of 19.38, a P/E/G ratio of 1.45 and a beta of 1.45. East West Bancorp, Inc. has a one year low of $48.07 and a one year high of $69.25.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.04). The company had revenue of $365.06 million during the quarter, compared to the consensus estimate of $359.43 million. East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. The business’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 earnings per share. research analysts expect that East West Bancorp, Inc. will post 4.4 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.20%. East West Bancorp’s dividend payout ratio is currently 23.12%.
A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Tuesday, October 24th. BMO Capital Markets lifted their target price on shares of East West Bancorp to $74.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. BidaskClub upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. ValuEngine upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, SunTrust Banks restated a “buy” rating and set a $68.00 target price on shares of East West Bancorp in a research note on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $69.50.
In other East West Bancorp news, Director Iris S. Chan sold 2,000 shares of East West Bancorp stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $66.69, for a total value of $133,380.00. Following the sale, the director now directly owns 20,301 shares in the company, valued at approximately $1,353,873.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas Paul Krause sold 5,000 shares of East West Bancorp stock in a transaction on Tuesday, December 19th. The shares were 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 $1,103,598.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,200 shares of company stock worth $704,434. 0.88% of the stock is currently owned by insiders.
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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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