Fisher Asset Management LLC Has $56.81 Million Stake in East West Bancorp, Inc. (NASDAQ:EWBC)

Fisher Asset Management LLC lessened its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 20.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 789,613 shares of the financial services provider’s stock after selling 208,329 shares during the period. Fisher Asset Management LLC owned 0.56% of East West Bancorp worth $56,813,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its holdings in East West Bancorp by 17.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,042 shares of the financial services provider’s stock valued at $266,000 after buying an additional 759 shares during the last quarter. JB Capital LLC bought a new stake in shares of East West Bancorp in the third quarter worth $765,000. Keeler THomas Management LLC increased its holdings in East West Bancorp by 5.9% in the third quarter. Keeler THomas Management LLC now owns 74,362 shares of the financial services provider’s stock valued at $3,977,000 after purchasing an additional 4,162 shares during the period. Whittier Trust Co. raised its position in East West Bancorp by 4.0% during the 3rd quarter. Whittier Trust Co. now owns 194,506 shares of the financial services provider’s stock worth $10,250,000 after purchasing an additional 7,409 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in East West Bancorp by 2.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 93,675 shares of the financial services provider’s stock worth $4,937,000 after buying an additional 1,941 shares during the period. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp Trading Up 1.9 %

Shares of EWBC opened at $76.64 on Friday. The business’s 50-day moving average price is $75.23 and its 200-day moving average price is $69.41. The stock has a market cap of $10.66 billion, a PE ratio of 9.65, a P/E/G ratio of 0.94 and a beta of 1.38. East West Bancorp, Inc. has a twelve month low of $41.12 and a twelve month high of $79.54. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.50.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.08. East West Bancorp had a return on equity of 17.43% and a net margin of 26.78%. The firm had revenue of $644.13 million for the quarter, compared to analysts’ expectations of $636.77 million. During the same quarter last year, the firm posted $2.32 EPS. The company’s revenue was down 2.4% compared to the same quarter last year. On average, equities analysts forecast that East West Bancorp, Inc. will post 7.99 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.87%. The ex-dividend date is Thursday, May 2nd. East West Bancorp’s dividend payout ratio (DPR) is currently 27.71%.

Insider Transactions at East West Bancorp

In related news, Director Molly Campbell sold 1,625 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the sale, the director now owns 10,321 shares in the company, valued at approximately $797,400.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.58, for a total transaction of $147,160.00. Following the transaction, the director now directly owns 16,739 shares of the company’s stock, valued at $1,231,655.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Molly Campbell sold 1,625 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the sale, the director now directly owns 10,321 shares of the company’s stock, valued at approximately $797,400.46. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EWBC. Keefe, Bruyette & Woods increased their price objective on shares of East West Bancorp from $82.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Barclays began coverage on East West Bancorp in a research report on Friday, March 8th. They issued an “overweight” rating and a $106.00 price target for the company. Citigroup boosted their target price on East West Bancorp from $85.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Morgan Stanley boosted their target price on shares of East West Bancorp from $76.00 to $89.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Finally, Jefferies Financial Group upped their price target on East West Bancorp from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.08.

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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.