Massachusetts Financial Services Co. MA trimmed its position in shares of East West Bancorp (NASDAQ:EWBC) by 14.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 367,392 shares of the financial services provider’s stock after selling 63,092 shares during the period. Massachusetts Financial Services Co. MA owned about 0.25% of East West Bancorp worth $22,977,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in EWBC. Trexquant Investment LP acquired a new position in East West Bancorp in the first quarter valued at approximately $1,524,000. Stephens Inc. AR boosted its holdings in East West Bancorp by 12.9% in the first quarter. Stephens Inc. AR now owns 10,821 shares of the financial services provider’s stock valued at $677,000 after purchasing an additional 1,238 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in East West Bancorp by 7.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 11,544 shares of the financial services provider’s stock valued at $766,000 after purchasing an additional 789 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in East West Bancorp by 0.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 419,124 shares of the financial services provider’s stock valued at $26,212,000 after purchasing an additional 1,196 shares in the last quarter. Finally, Hennessy Advisors Inc. boosted its holdings in East West Bancorp by 52.8% in the first quarter. Hennessy Advisors Inc. now owns 18,330 shares of the financial services provider’s stock valued at $1,146,000 after purchasing an additional 6,330 shares in the last quarter. Hedge funds and other institutional investors own 91.23% of the company’s stock.
In other news, CFO Irene H. Oh sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $68.29, for a total transaction of $341,450.00. Following the completion of the sale, the chief financial officer now owns 38,021 shares in the company, valued at $2,596,454.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Molly Campbell sold 461 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $65.11, for a total value of $30,015.71. Following the sale, the director now owns 5,448 shares of the company’s stock, valued at approximately $354,719.28. The disclosure for this sale can be found here. Insiders have sold 54,329 shares of company stock valued at $3,725,639 in the last 90 days. Company insiders own 0.88% of the company’s stock.
East West Bancorp opened at $71.22 on Friday, Marketbeat reports. East West Bancorp has a 12 month low of $70.17 and a 12 month high of $70.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $10.26 billion, a PE ratio of 20.58, a P/E/G ratio of 1.49 and a beta of 1.42.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, April 19th. The financial services provider reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.13. East West Bancorp had a return on equity of 14.15% and a net margin of 32.46%. The business had revenue of $401.14 million during the quarter, compared to analysts’ expectations of $364.81 million. During the same quarter in the prior year, the business earned $0.88 earnings per share. sell-side analysts anticipate 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 paid a dividend of $0.20 per share. 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%.
Several equities research analysts have recently weighed in on the company. ValuEngine downgraded East West Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, April 18th. Sandler O’Neill reissued a “buy” rating and issued a $76.00 price objective on shares of East West Bancorp in a report on Friday, January 26th. Zacks Investment Research downgraded East West Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. BidaskClub raised East West Bancorp from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Finally, Morgan Stanley increased their price objective on East West Bancorp from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, April 24th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. East West Bancorp has an average rating of “Hold” and a consensus target price of $72.23.
About East West Bancorp
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.
Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.