Lombard Odier Asset Management Switzerland SA lifted its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 25.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,245 shares of the financial services provider’s stock after purchasing an additional 2,715 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in East West Bancorp were worth $806,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. British Airways Pensions Investment Management Ltd raised its position in East West Bancorp by 38.8% in the 3rd quarter. British Airways Pensions Investment Management Ltd now owns 552,985 shares of the financial services provider’s stock worth $33,049,000 after buying an additional 154,504 shares during the last quarter. Sei Investments Co. grew its stake in shares of East West Bancorp by 18.1% during the 3rd quarter. Sei Investments Co. now owns 111,518 shares of the financial services provider’s stock valued at $6,667,000 after acquiring an additional 17,107 shares during the period. Andra AP fonden grew its stake in shares of East West Bancorp by 33.1% during the 3rd quarter. Andra AP fonden now owns 47,900 shares of the financial services provider’s stock valued at $2,863,000 after acquiring an additional 11,900 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of East West Bancorp by 15.3% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 103,913 shares of the financial services provider’s stock valued at $6,212,000 after acquiring an additional 13,816 shares during the period. Finally, Prudential Financial Inc. grew its stake in shares of East West Bancorp by 10.5% during the 3rd quarter. Prudential Financial Inc. now owns 1,101,420 shares of the financial services provider’s stock valued at $65,843,000 after acquiring an additional 104,558 shares during the period. Institutional investors and hedge funds own 91.66% of the company’s stock.
Several research analysts have weighed in on the company. Barclays upped their price target on East West Bancorp from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. BMO Capital Markets increased their price target on East West Bancorp to $74.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Sandler O’Neill reaffirmed a “buy” rating and issued a $76.00 price objective on shares of East West Bancorp in a research report on Friday, January 26th. BidaskClub raised East West Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Finally, Morgan Stanley raised their price objective on East West Bancorp from $69.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $69.50.
Shares of East West Bancorp, Inc. (NASDAQ EWBC) traded down $1.38 during trading hours on Wednesday, hitting $65.31. The stock had a trading volume of 985,821 shares, compared to its average volume of 887,784. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $9,743.71, a price-to-earnings ratio of 19.23, a PEG ratio of 1.46 and a beta of 1.40. East West Bancorp, Inc. has a 12-month low of $48.07 and a 12-month high of $69.25.
East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.87 EPS for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.04). The business had revenue of $365.06 million during 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%. East West Bancorp’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 EPS. analysts forecast that East West Bancorp, Inc. will post 4.4 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, February 2nd. This represents a $0.80 annualized dividend and a yield of 1.22%. East West Bancorp’s payout ratio is 23.12%.
In related news, insider Douglas Paul Krause sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $61.26, for a total value of $306,300.00. Following the sale, the insider now owns 18,015 shares in the company, valued at approximately $1,103,598.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 2,000 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $68.50, for a total value of $137,000.00. Following the sale, the director now owns 21,599 shares in the company, valued at approximately $1,479,531.50. The disclosure for this sale can be found here. Insiders have sold a total of 14,000 shares of company stock valued at $918,130 over the last three months. 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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