Chicago Equity Partners LLC lessened its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 52.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,790 shares of the financial services provider’s stock after selling 63,955 shares during the period. Chicago Equity Partners LLC’s holdings in East West Bancorp were worth $3,489,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Engineers Gate Manager LP purchased a new stake in shares of East West Bancorp in the 3rd quarter worth approximately $1,969,000. Synovus Financial Corp grew its stake in shares of East West Bancorp by 14.9% in the 3rd quarter. Synovus Financial Corp now owns 8,616 shares of the financial services provider’s stock worth $521,000 after buying an additional 1,119 shares during the last quarter. Moody Aldrich Partners LLC purchased a new stake in shares of East West Bancorp in the 3rd quarter worth approximately $207,000. Bradley Foster & Sargent Inc. CT grew its stake in shares of East West Bancorp by 27.8% in the 3rd quarter. Bradley Foster & Sargent Inc. CT now owns 41,122 shares of the financial services provider’s stock worth $2,483,000 after buying an additional 8,947 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of East West Bancorp by 2.3% in the 3rd quarter. Arizona State Retirement System now owns 102,895 shares of the financial services provider’s stock worth $6,212,000 after buying an additional 2,296 shares during the last quarter. Institutional investors own 87.74% of the company’s stock.
Several equities analysts recently issued reports on the company. Piper Jaffray Companies set a $82.00 price objective on East West Bancorp and gave the company a “buy” rating in a research report on Thursday, July 19th. BidaskClub raised East West Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 19th. Barclays lowered their price objective on East West Bancorp from $78.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, July 20th. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Tuesday, July 24th. Finally, DA Davidson raised East West Bancorp from a “neutral” rating to a “buy” rating in a research report on Monday, October 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $71.67.
NASDAQ EWBC opened at $54.00 on Friday. The firm has a market cap of $7.92 billion, a PE ratio of 15.61, a PEG ratio of 1.12 and a beta of 1.37. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11. East West Bancorp, Inc. has a 1-year low of $50.34 and a 1-year high of $73.98.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.03. The firm had revenue of $395.22 million for the quarter, compared to analysts’ expectations of $398.25 million. East West Bancorp had a return on equity of 15.70% and a net margin of 34.80%. During the same period in the prior year, the firm earned $0.91 EPS. As a group, analysts forecast that East West Bancorp, Inc. will post 4.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, October 31st. This represents a $0.92 annualized dividend and a dividend yield of 1.70%. East West Bancorp’s payout ratio is 26.59%.
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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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