Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 51.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,338 shares of the financial services provider’s stock after selling 38,661 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in East West Bancorp were worth $935,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in EWBC. FMR LLC increased its stake in East West Bancorp by 51.5% in the first quarter. FMR LLC now owns 510,524 shares of the financial services provider’s stock valued at $24,490,000 after purchasing an additional 173,633 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in East West Bancorp by 1.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 201,028 shares of the financial services provider’s stock valued at $9,643,000 after purchasing an additional 2,791 shares during the period. Squar Milner Financial Services LLC increased its stake in East West Bancorp by 27.2% in the fourth quarter. Squar Milner Financial Services LLC now owns 1,094 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 234 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in East West Bancorp in the fourth quarter valued at $211,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in East West Bancorp by 38.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,282 shares of the financial services provider’s stock valued at $452,000 after purchasing an additional 2,592 shares during the period. Hedge funds and other institutional investors own 87.99% of the company’s stock.
EWBC has been the topic of a number of recent research reports. BidaskClub upgraded shares of East West Bancorp from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 28th. Compass Point initiated coverage on shares of East West Bancorp in a research note on Tuesday, April 14th. They issued a “neutral” rating on the stock. Morgan Stanley lifted their price objective on shares of East West Bancorp from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. TheStreet lowered shares of East West Bancorp from a “b-” rating to a “c+” rating in a research note on Friday, February 28th. Finally, DA Davidson lowered their target price on shares of East West Bancorp from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $38.33.
In related news, Director Herman Y. Li sold 10,172 shares of the business’s stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $30.06, for a total transaction of $305,770.32. Following the sale, the director now owns 25,789 shares of the company’s stock, valued at $775,217.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Herman Y. Li sold 3,300 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $31.03, for a total transaction of $102,399.00. Following the sale, the director now directly owns 35,961 shares in the company, valued at approximately $1,115,869.83. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.
Shares of NASDAQ:EWBC opened at $33.67 on Friday. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 7.50, a PEG ratio of 0.99 and a beta of 2.03. The firm’s 50-day simple moving average is $30.46 and its 200-day simple moving average is $40.53. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.16. East West Bancorp, Inc. has a fifty-two week low of $22.55 and a fifty-two week high of $51.88.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $416.76 million for the quarter, compared to the consensus estimate of $401.75 million. East West Bancorp had a net margin of 31.34% and a return on equity of 14.00%. During the same quarter in the previous year, the firm earned $1.16 earnings per share. On average, research analysts forecast that East West Bancorp, Inc. will post 3.4 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Friday, May 1st. East West Bancorp’s dividend payout ratio is currently 22.73%.
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 businesses and individuals in the United States and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.
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