Signature Estate & Investment Advisors LLC reduced its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 13.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,855 shares of the financial services provider’s stock after selling 3,000 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in East West Bancorp were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of EWBC. BlackRock Inc. lifted its stake in East West Bancorp by 11.5% during the second quarter. BlackRock Inc. now owns 13,329,464 shares of the financial services provider’s stock valued at $780,841,000 after purchasing an additional 1,373,528 shares during the last quarter. Vanguard Group Inc. lifted its stake in East West Bancorp by 7.5% during the second quarter. Vanguard Group Inc. now owns 12,734,214 shares of the financial services provider’s stock valued at $745,971,000 after purchasing an additional 893,764 shares during the last quarter. State Street Corp lifted its stake in East West Bancorp by 16.5% during the second quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock valued at $415,902,000 after purchasing an additional 1,004,860 shares during the last quarter. Boston Partners lifted its stake in East West Bancorp by 0.8% during the third quarter. Boston Partners now owns 6,619,308 shares of the financial services provider’s stock valued at $395,702,000 after purchasing an additional 50,476 shares during the last quarter. Finally, Macquarie Group Ltd. raised its holdings in shares of East West Bancorp by 5.5% during the second quarter. Macquarie Group Ltd. now owns 4,262,200 shares of the financial services provider’s stock valued at $249,680,000 after acquiring an additional 223,419 shares during the period. 90.58% of the stock is owned by institutional investors.
In other East West Bancorp news, Director Rudolph Estrada sold 1,916 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $55.97, for a total transaction of $107,238.52. Following the sale, the director now directly owns 15,475 shares in the company, valued at approximately $866,135.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Herman Y. Li sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $61.00, for a total transaction of $610,000.00. Following the sale, the director now owns 40,130 shares in the company, valued at $2,447,930. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by company insiders.
A number of equities research analysts have recently issued reports on EWBC shares. Wedbush restated an “outperform” rating and set a $68.00 price target on shares of East West Bancorp in a report on Thursday, July 20th. BidaskClub lowered shares of East West Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research lowered shares of East West Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. East West Bancorp currently has a consensus rating of “Hold” and a consensus price target of $64.60.
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Shares of East West Bancorp, Inc. (NASDAQ EWBC) traded up $0.37 during mid-day trading on Tuesday, hitting $57.03. 917,300 shares of the stock were exchanged, compared to its average volume of 935,950. East West Bancorp, Inc. has a 52 week low of $45.26 and a 52 week high of $61.90. The firm has a market cap of $8,189.80, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.54 and a beta of 1.47. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.13.
East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. The business had revenue of $348.97 million during the quarter, compared to analysts’ expectations of $349.28 million. East West Bancorp had a net margin of 34.75% and a return on equity of 13.51%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the company posted $0.76 EPS. research analysts forecast that East West Bancorp, Inc. will post 3.49 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, October 31st. East West Bancorp’s payout ratio is presently 21.98%.
East West Bancorp 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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