New Mexico Educational Retirement Board Acquires New Stake in East West Bancorp, Inc. (EWBC)

New Mexico Educational Retirement Board acquired a new position in East West Bancorp, Inc. (NASDAQ:EWBC) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 35,793 shares of the financial services provider’s stock, valued at approximately $2,177,000.

Several other hedge funds also recently bought and sold shares of EWBC. Janus Henderson Group PLC increased its position in shares of East West Bancorp by 66.8% in the third quarter. Janus Henderson Group PLC now owns 983,340 shares of the financial services provider’s stock worth $58,784,000 after purchasing an additional 393,861 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in shares of East West Bancorp in the fourth quarter worth approximately $22,808,000. Jennison Associates LLC increased its position in shares of East West Bancorp by 11.3% in the fourth quarter. Jennison Associates LLC now owns 2,916,015 shares of the financial services provider’s stock worth $177,381,000 after purchasing an additional 294,977 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of East West Bancorp by 29.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,296,562 shares of the financial services provider’s stock worth $78,870,000 after purchasing an additional 294,791 shares during the last quarter. Finally, Hahn Capital Management LLC increased its position in shares of East West Bancorp by 60.6% in the third quarter. Hahn Capital Management LLC now owns 586,083 shares of the financial services provider’s stock worth $35,036,000 after purchasing an additional 221,114 shares during the last quarter. Institutional investors own 90.90% of the company’s stock.

Several research analysts recently weighed in on EWBC shares. DA Davidson restated a “hold” rating and issued a $63.00 price objective on shares of East West Bancorp in a research report on Friday, October 20th. Wedbush restated an “outperform” rating and issued a $66.00 price objective (down from $68.00) on shares of East West Bancorp in a research report on Friday, October 20th. Barclays set a $66.00 price objective on shares of East West Bancorp and gave the stock a “buy” rating in a research report on Friday, October 20th. BMO Capital Markets upped their price objective on shares of East West Bancorp from $61.00 to $63.00 and gave the stock a “market perform” rating in a research report on Friday, October 20th. Finally, Piper Jaffray Companies set a $74.00 price objective on shares of East West Bancorp and gave the stock a “buy” rating in a research report on Saturday, October 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $69.50.

In other news, insider Douglas Paul Krause sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 19th. The stock was 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 of the company’s stock, valued at $1,103,598.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jack C. Liu sold 2,200 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $58.07, for a total value of $127,754.00. Following the sale, the director now directly owns 23,599 shares of the company’s stock, valued at approximately $1,370,393.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,200 shares of company stock valued at $704,434. 0.88% of the stock is owned by insiders.

Shares of East West Bancorp, Inc. (EWBC) opened at $66.85 on Friday. The stock has a market capitalization of $9,658.36, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 1.45 and a beta of 1.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.00 and a quick ratio of 1.00. East West Bancorp, Inc. has a 52 week low of $48.07 and a 52 week high of $69.25.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, January 25th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.04). The firm had revenue of $365.06 million during the quarter, compared to analysts’ expectations of $359.43 million. East West Bancorp had a return on equity of 13.56% and a net margin of 31.93%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 EPS. equities analysts expect that East West Bancorp, Inc. will post 4.4 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Friday, February 2nd. East West Bancorp’s dividend payout ratio is currently 23.12%.

WARNING: This piece of content was originally published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this piece of content can be viewed at https://www.thelincolnianonline.com/2018/02/17/new-mexico-educational-retirement-board-acquires-new-stake-in-east-west-bancorp-inc-ewbc.html.

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.

Want to see what other hedge funds are holding EWBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for East West Bancorp, Inc. (NASDAQ:EWBC).

Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply