Boston Partners cut its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 22.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,587,737 shares of the financial services provider’s stock after selling 1,309,518 shares during the period. Boston Partners owned 3.16% of East West Bancorp worth $199,705,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of EWBC. Advisors Asset Management Inc. lifted its position in East West Bancorp by 25.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 21,626 shares of the financial services provider’s stock worth $1,410,000 after acquiring an additional 4,321 shares during the last quarter. Bank of New York Mellon Corp lifted its position in East West Bancorp by 15.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,771,173 shares of the financial services provider’s stock worth $311,079,000 after acquiring an additional 627,329 shares during the last quarter. Bank of Montreal Can lifted its position in East West Bancorp by 24.5% during the 3rd quarter. Bank of Montreal Can now owns 12,366 shares of the financial services provider’s stock worth $748,000 after acquiring an additional 2,434 shares during the last quarter. First Hawaiian Bank acquired a new position in East West Bancorp during the 3rd quarter worth $169,000. Finally, Andra AP fonden lifted its position in East West Bancorp by 15.9% during the 3rd quarter. Andra AP fonden now owns 79,400 shares of the financial services provider’s stock worth $4,793,000 after acquiring an additional 10,900 shares during the last quarter. 87.37% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on the stock. TheStreet raised shares of East West Bancorp from a “c+” rating to a “b” rating in a research report on Thursday, February 7th. BidaskClub lowered shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 13th. Barclays reaffirmed a “buy” rating and set a $69.00 price objective on shares of East West Bancorp in a research report on Friday, January 11th. ValuEngine lowered shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 13th. Finally, Morgan Stanley cut their price objective on shares of East West Bancorp from $67.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 11th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. East West Bancorp has a consensus rating of “Hold” and a consensus price target of $69.40.
Shares of EWBC opened at $54.96 on Wednesday. The stock has a market cap of $7.82 billion, a PE ratio of 11.57, a P/E/G ratio of 1.01 and a beta of 1.55. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.01 and a quick ratio of 1.01. East West Bancorp, Inc. has a 52 week low of $40.05 and a 52 week high of $73.98.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, January 24th. The financial services provider reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.02. The business had revenue of $411.11 million during the quarter, compared to analyst estimates of $408.61 million. East West Bancorp had a net margin of 37.78% and a return on equity of 16.26%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 earnings per share. Equities analysts predict that East West Bancorp, Inc. will post 5.1 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 15th. Stockholders of record on Monday, February 4th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Friday, February 1st. East West Bancorp’s dividend payout ratio is currently 19.74%.
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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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