First Quadrant L P CA boosted its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 25.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 460,529 shares of the financial services provider’s stock after buying an additional 94,029 shares during the period. First Quadrant L P CA owned approximately 0.32% of East West Bancorp worth $26,978,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quadrature Capital Ltd purchased a new position in shares of East West Bancorp during the fourth quarter valued at $221,000. Macquarie Group Ltd. increased its position in shares of East West Bancorp by 1.8% in the fourth quarter. Macquarie Group Ltd. now owns 3,993,177 shares of the financial services provider’s stock valued at $202,973,000 after buying an additional 71,444 shares in the last quarter. CENTRAL TRUST Co purchased a new position in shares of East West Bancorp during the first quarter valued at $177,000. Capstone Asset Management Co. increased its position in shares of East West Bancorp by 5.0% in the first quarter. Capstone Asset Management Co. now owns 10,804 shares of the financial services provider’s stock valued at $558,000 after buying an additional 510 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new position in shares of East West Bancorp during the first quarter valued at $351,000. 88.12% of the stock is owned by institutional investors.
Shares of East West Bancorp, Inc. (NASDAQ EWBC) traded down 0.13% during trading on Friday, reaching $55.01. 748,154 shares of the company’s stock were exchanged. East West Bancorp, Inc. has a 12-month low of $33.89 and a 12-month high of $60.42. The stock has a market cap of $7.95 billion, a P/E ratio of 15.71 and a beta of 1.41. The company has a 50 day moving average of $57.72 and a 200 day moving average of $54.94.
East West Bancorp (NASDAQ:EWBC) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. The business had revenue of $337.49 million for the quarter, compared to analysts’ expectations of $329.32 million. During the same period last year, the company earned $0.71 earnings per share. Equities research analysts anticipate that East West Bancorp, Inc. will post $3.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.80 annualized dividend and a yield of 1.45%. East West Bancorp’s payout ratio is 22.92%.
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EWBC has been the topic of several research analyst reports. Piper Jaffray Companies decreased their price target on shares of East West Bancorp to $62.00 and set an “overweight” rating on the stock in a research note on Monday, April 17th. Zacks Investment Research upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, April 20th. Barclays PLC reiterated an “overweight” rating and issued a $63.00 price target (up previously from $61.00) on shares of East West Bancorp in a research note on Sunday, April 23rd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $57.00 price target on shares of East West Bancorp in a research note on Monday, May 22nd. Finally, Morgan Stanley upped their target price on shares of East West Bancorp from $57.00 to $59.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 6th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $62.88.
In related news, Director Jack C. Liu sold 1,123 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $59.00, for a total value of $66,257.00. Following the transaction, the director now owns 23,669 shares in the company, valued at $1,396,471. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.88% of the company’s stock.
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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