First Republic Investment Management Inc. decreased its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 438,471 shares of the financial services provider’s stock after selling 1,430 shares during the period. First Republic Investment Management Inc.’s holdings in East West Bancorp were worth $26,470,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in East West Bancorp by 15.1% in the second quarter. Bank of New York Mellon Corp now owns 4,771,173 shares of the financial services provider’s stock valued at $311,079,000 after buying an additional 627,329 shares in the last quarter. Ferguson Wellman Capital Management Inc. acquired a new stake in East West Bancorp in the second quarter valued at approximately $23,593,000. BlackRock Inc. boosted its position in East West Bancorp by 2.1% in the third quarter. BlackRock Inc. now owns 14,937,639 shares of the financial services provider’s stock valued at $901,784,000 after buying an additional 305,805 shares in the last quarter. Smith Asset Management Group LP boosted its position in East West Bancorp by 107.6% in the second quarter. Smith Asset Management Group LP now owns 482,760 shares of the financial services provider’s stock valued at $31,476,000 after buying an additional 250,170 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in East West Bancorp by 332.3% in the third quarter. SG Americas Securities LLC now owns 213,138 shares of the financial services provider’s stock valued at $12,867,000 after buying an additional 163,833 shares in the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.
EWBC has been the topic of a number of research analyst reports. 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 research report on Tuesday, September 18th. ValuEngine lowered shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. BMO Capital Markets upgraded shares of East West Bancorp from a “market perform” rating to an “outperform” rating and set a $73.00 target price on the stock in a research report on Monday, October 1st. Wells Fargo & Co set a $76.00 price target on shares of East West Bancorp and gave the company a “buy” rating in a research note on Tuesday, October 2nd. Finally, DA Davidson raised shares of East West Bancorp from a “neutral” rating to a “buy” rating in a research note on Monday, October 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. East West Bancorp has a consensus rating of “Hold” and an average target price of $72.00.
EWBC stock opened at $48.17 on Friday. The firm has a market cap of $7.13 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.01 and a beta of 1.38. East West Bancorp, Inc. has a 52-week low of $47.82 and a 52-week high of $73.98. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.11.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.03. The firm had revenue of $395.22 million during the quarter, compared to the consensus estimate of $398.25 million. East West Bancorp had a net margin of 34.80% and a return on equity of 15.70%. During the same quarter last year, the firm earned $0.91 earnings per share. On average, research analysts predict that East West Bancorp, Inc. will post 4.63 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Wednesday, October 31st. East West Bancorp’s payout ratio is currently 26.59%.
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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 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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