Dynamic Capital Management Ltd acquired a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 9,619 shares of the financial services provider’s stock, valued at approximately $585,000.
A number of other institutional investors have also recently added to or reduced their stakes in EWBC. Aristotle Capital Management LLC boosted its stake in East West Bancorp by 185.4% during the 4th quarter. Aristotle Capital Management LLC now owns 2,861,528 shares of the financial services provider’s stock worth $174,067,000 after acquiring an additional 1,859,004 shares during the last quarter. Janus Henderson Group PLC boosted its stake in East West Bancorp by 66.8% during the 3rd quarter. Janus Henderson Group PLC now owns 983,340 shares of the financial services provider’s stock worth $58,784,000 after acquiring an additional 393,861 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in East West Bancorp during the 4th quarter worth approximately $22,808,000. Jennison Associates LLC boosted its stake in East West Bancorp by 11.3% during the 4th quarter. Jennison Associates LLC now owns 2,916,015 shares of the financial services provider’s stock worth $177,381,000 after acquiring an additional 294,977 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in East West Bancorp by 29.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,296,562 shares of the financial services provider’s stock worth $78,870,000 after acquiring an additional 294,791 shares during the last quarter. 90.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of East West Bancorp, Inc. (NASDAQ EWBC) opened at $68.13 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. East West Bancorp, Inc. has a fifty-two week low of $48.07 and a fifty-two week high of $69.25. The stock has a market cap of $9,769.73, a P/E ratio of 19.59, a PEG ratio of 1.46 and a beta of 1.40.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. East West Bancorp’s dividend payout ratio (DPR) is presently 23.12%.
In other news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $68.50, for a total value of $137,000.00. Following the sale, the director now directly owns 21,599 shares in the company, valued at $1,479,531.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas Paul Krause sold 5,000 shares of East West Bancorp stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $61.26, for a total transaction of $306,300.00. Following the completion of the sale, the insider now owns 18,015 shares in the company, valued at $1,103,598.90. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock worth $576,680 over the last quarter. 0.88% of the stock is owned by corporate insiders.
EWBC has been the topic of several recent analyst reports. SunTrust Banks reissued a “buy” rating and set a $68.00 price objective on shares of East West Bancorp in a research note on Wednesday, November 29th. Sandler O’Neill restated a “buy” rating and set a $76.00 target price on shares of East West Bancorp in a report on Friday, January 26th. Piper Jaffray Companies restated a “buy” rating and set a $79.00 target price on shares of East West Bancorp in a report on Tuesday, January 9th. Zacks Investment Research upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Monday, January 8th. Finally, ValuEngine upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $69.50.
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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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