SG Americas Securities LLC decreased its position in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 83.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,963 shares of the financial services provider's stock after selling 9,665 shares during the period. SG Americas Securities LLC's holdings in East West Bancorp were worth $162,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors acquired a new stake in shares of East West Bancorp in the first quarter valued at about $338,142,000. Dimensional Fund Advisors LP raised its stake in shares of East West Bancorp by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,822,886 shares of the financial services provider's stock valued at $133,480,000 after acquiring an additional 118,658 shares during the period. Jennison Associates LLC raised its stake in shares of East West Bancorp by 82.2% in the 1st quarter. Jennison Associates LLC now owns 1,687,555 shares of the financial services provider's stock valued at $133,502,000 after acquiring an additional 761,347 shares during the period. Lord Abbett & CO. LLC raised its stake in shares of East West Bancorp by 112.5% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,441,198 shares of the financial services provider's stock valued at $114,013,000 after acquiring an additional 762,958 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new stake in East West Bancorp during the 2nd quarter worth approximately $59,460,000. Hedge funds and other institutional investors own 89.53% of the company's stock.
East West Bancorp Price Performance
NASDAQ EWBC traded down $2.09 during trading hours on Friday, reaching $95.10. The company's stock had a trading volume of 835,862 shares, compared to its average volume of 932,006. East West Bancorp, Inc. has a fifty-two week low of $52.29 and a fifty-two week high of $98.95. The stock has a market cap of $13.23 billion, a PE ratio of 11.96, a PEG ratio of 2.08 and a beta of 1.29. The company's 50-day moving average is $83.66 and its two-hundred day moving average is $78.49. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92.
East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.03. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $641.80 million. During the same period last year, the company earned $2.02 EPS. Analysts forecast that East West Bancorp, Inc. will post 8.2 EPS for the current year.
East West Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be given a $0.55 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.20 annualized dividend and a dividend yield of 2.31%. East West Bancorp's dividend payout ratio is presently 27.71%.
Wall Street Analyst Weigh In
Several research firms have commented on EWBC. Wells Fargo & Company boosted their price target on shares of East West Bancorp from $97.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday. Jefferies Financial Group decreased their price target on shares of East West Bancorp from $94.00 to $85.00 and set a "buy" rating for the company in a research note on Wednesday, July 3rd. Barclays increased their price target on shares of East West Bancorp from $108.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday. Compass Point upped their price objective on shares of East West Bancorp from $93.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Morgan Stanley increased their price target on shares of East West Bancorp from $103.00 to $106.00 and gave the company an "overweight" rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $99.46.
View Our Latest Analysis on East West Bancorp
Insider Buying and Selling
In related news, Director Jack C. Liu sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the transaction, the director now owns 16,557 shares in the company, valued at approximately $1,382,509.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Lisa L. Kim sold 6,000 shares of East West Bancorp stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $78.68, for a total value of $472,080.00. Following the completion of the sale, the executive vice president now owns 18,891 shares in the company, valued at approximately $1,486,343.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total transaction of $167,000.00. Following the completion of the sale, the director now owns 16,557 shares of the company's stock, valued at approximately $1,382,509.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company's stock.
East West Bancorp Profile
(
Free Report)
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 businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.
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