Twin Capital Management Inc. lessened its stake in East West Bancorp (NASDAQ:EWBC) by 8.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,770 shares of the financial services provider’s stock after selling 9,650 shares during the quarter. Twin Capital Management Inc. owned approximately 0.07% of East West Bancorp worth $6,552,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. National Pension Service bought a new stake in East West Bancorp during the fourth quarter worth $116,000. Contravisory Investment Management Inc. bought a new stake in East West Bancorp during the fourth quarter worth $129,000. Field & Main Bank bought a new stake in East West Bancorp during the fourth quarter worth $146,000. Advisor Partners LLC bought a new stake in East West Bancorp during the fourth quarter worth $213,000. Finally, YHB Investment Advisors Inc. bought a new stake in East West Bancorp during the fourth quarter worth $217,000. Institutional investors own 91.23% of the company’s stock.
In other news, CFO Irene H. Oh sold 5,000 shares of East West Bancorp stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $68.29, for a total value of $341,450.00. Following the completion of the transaction, the chief financial officer now directly owns 38,021 shares in the company, valued at $2,596,454.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Molly Campbell sold 461 shares of the business’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $65.11, for a total value of $30,015.71. Following the transaction, the director now owns 5,448 shares of the company’s stock, valued at $354,719.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,329 shares of company stock valued at $3,725,639. 0.88% of the stock is owned by company insiders.
NASDAQ:EWBC opened at $71.22 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00. East West Bancorp has a 1 year low of $70.17 and a 1 year high of $70.95. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 1.49 and a beta of 1.42.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, April 19th. The financial services provider reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.13. The company had revenue of $401.14 million during the quarter, compared to analysts’ expectations of $364.81 million. East West Bancorp had a return on equity of 14.15% and a net margin of 32.46%. During the same period in the previous year, the business earned $0.88 earnings per share. equities research analysts predict that East West Bancorp will post 4.52 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Monday, April 30th. East West Bancorp’s dividend payout ratio (DPR) is presently 23.12%.
A number of brokerages recently commented on EWBC. UBS began coverage on East West Bancorp in a report on Thursday, March 22nd. They set a “buy” rating and a $77.00 price target on the stock. Deutsche Bank lifted their price target on East West Bancorp from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Friday, May 4th. BidaskClub upgraded East West Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, April 24th. Morgan Stanley lifted their price target on East West Bancorp from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 24th. Finally, DA Davidson decreased their target price on East West Bancorp from $75.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday, April 24th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $72.23.
East West Bancorp Company Profile
East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.
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