Thrivent Financial for Lutherans Sells 29,691 Shares of East West Bancorp (EWBC)

Thrivent Financial for Lutherans lessened its holdings in shares of East West Bancorp (NASDAQ:EWBC) by 6.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 427,763 shares of the financial services provider’s stock after selling 29,691 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.30% of East West Bancorp worth $26,753,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of East West Bancorp by 1.5% during the 4th quarter. BlackRock Inc. now owns 13,767,215 shares of the financial services provider’s stock worth $837,459,000 after acquiring an additional 199,886 shares during the period. Boston Partners raised 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 acquiring an additional 209,514 shares during the period. Jennison Associates LLC raised its holdings in shares of East West Bancorp by 11.3% during the 4th quarter. Jennison Associates LLC now owns 2,916,015 shares of the financial services provider’s stock worth $177,381,000 after acquiring an additional 294,977 shares during the period. Aristotle Capital Management LLC raised its holdings in shares of East West Bancorp by 185.4% during the 4th quarter. Aristotle Capital Management LLC now owns 2,861,528 shares of the financial services provider’s stock worth $174,067,000 after acquiring an additional 1,859,004 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in shares of East West Bancorp by 12.4% during the 4th quarter. Handelsbanken Fonder AB now owns 2,349,611 shares of the financial services provider’s stock worth $142,927,000 after acquiring an additional 260,000 shares during the period. 91.23% of the stock is currently owned by institutional investors.

Several research firms have recently commented on EWBC. ValuEngine lowered East West Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, April 18th. Sandler O’Neill reiterated a “buy” rating and set a $76.00 price target on shares of East West Bancorp in a report on Friday, January 26th. Zacks Investment Research lowered East West Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. BidaskClub upgraded East West Bancorp from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Finally, 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. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $72.23.

Shares of EWBC opened at $71.22 on Friday. The stock has a market capitalization of $10.26 billion, a P/E ratio of 20.58, a P/E/G ratio of 1.49 and a beta of 1.42. 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 quick ratio of 1.00 and a current ratio of 1.00.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, April 19th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.13. The firm had revenue of $401.14 million for the quarter, compared to analyst estimates of $364.81 million. East West Bancorp had a net margin of 32.46% and a return on equity of 14.15%. During the same period in the previous year, the firm earned $0.88 EPS. analysts expect that East West Bancorp will post 4.52 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st were issued a $0.20 dividend. The ex-dividend date was Monday, April 30th. This represents a $0.80 annualized dividend and a yield of 1.12%. East West Bancorp’s dividend payout ratio (DPR) is currently 23.12%.

In other East West Bancorp news, Director Molly Campbell sold 461 shares of East West Bancorp 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 completion of the transaction, the director now directly owns 5,448 shares of the company’s stock, valued at approximately $354,719.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Irene H. Oh sold 5,000 shares of East West Bancorp stock in a transaction dated Wednesday, March 7th. The shares were 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 of the company’s stock, valued at $2,596,454.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,329 shares of company stock worth $3,725,639. 0.88% of the stock is owned by insiders.

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.

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Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

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