5,159 Shares in East West Bancorp, Inc. (EWBC) Purchased by USA Financial Portformulas Corp
USA Financial Portformulas Corp bought a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,159 shares of the financial services provider’s stock, valued at approximately $302,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Toronto Dominion Bank acquired a new stake in shares of East West Bancorp during the second quarter worth $104,000. Strs Ohio acquired a new stake in shares of East West Bancorp during the second quarter worth $110,000. San Francisco Sentry Investment Group CA acquired a new stake in shares of East West Bancorp during the second quarter worth $138,000. D.A. Davidson & CO. lifted its holdings in shares of East West Bancorp by 1.0% during the second quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 26 shares during the period. Finally, Americafirst Capital Management LLC acquired a new stake in shares of East West Bancorp during the second quarter worth $149,000. Institutional investors and hedge funds own 90.47% of the company’s stock.
In other East West Bancorp news, Director Rudolph Estrada sold 1,916 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $55.97, for a total transaction of $107,238.52. Following the completion of the transaction, the director now owns 15,475 shares in the company, valued at approximately $866,135.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.
EWBC has been the subject of several recent research reports. BidaskClub downgraded East West Bancorp from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $57.00 price target on shares of East West Bancorp in a report on Friday, June 23rd. Wedbush reaffirmed an “outperform” rating and set a $68.00 price target on shares of East West Bancorp in a report on Tuesday, June 27th. Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 price target (up from $59.00) on shares of East West Bancorp in a report on Thursday, July 6th. Finally, BMO Capital Markets downgraded East West Bancorp from an “outperform” rating to a “market perform” rating and set a $63.00 price target for the company. in a report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. East West Bancorp currently has an average rating of “Hold” and an average target price of $63.30.
East West Bancorp, Inc. (EWBC) traded up 2.00% during midday trading on Friday, reaching $60.66. The company’s stock had a trading volume of 243,732 shares. East West Bancorp, Inc. has a 1-year low of $38.12 and a 1-year high of $61.22. The company’s 50-day moving average price is $57.49 and its 200-day moving average price is $56.25. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of 17.33 and a beta of 1.46.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.03. East West Bancorp had a return on equity of 13.31% and a net margin of 34.63%. The company had revenue of $348.97 million during the quarter, compared to analyst estimates of $349.28 million. During the same quarter in the previous year, the firm posted $0.76 EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. On average, analysts predict that East West Bancorp, Inc. will post $3.71 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.35%. East West Bancorp’s dividend payout ratio (DPR) is presently 22.92%.
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.
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