State of Wisconsin Investment Board cut its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 6.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 346,218 shares of the financial services provider’s stock after selling 22,720 shares during the period. State of Wisconsin Investment Board owned approximately 0.24% of East West Bancorp worth $20,697,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of EWBC. BlackRock Inc. grew its stake in shares of East West Bancorp by 11.5% in the second quarter. BlackRock Inc. now owns 13,329,464 shares of the financial services provider’s stock worth $780,841,000 after acquiring an additional 1,373,528 shares during the period. Vanguard Group Inc. grew its stake in shares of East West Bancorp by 7.5% in the second quarter. Vanguard Group Inc. now owns 12,734,214 shares of the financial services provider’s stock worth $745,971,000 after acquiring an additional 893,764 shares during the period. State Street Corp grew its stake in shares of East West Bancorp by 16.5% in the second quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock worth $415,902,000 after acquiring an additional 1,004,860 shares during the period. Boston Partners grew its stake in shares of East West Bancorp by 14.4% in the second quarter. Boston Partners now owns 6,568,832 shares of the financial services provider’s stock worth $384,802,000 after acquiring an additional 828,887 shares during the period. Finally, Macquarie Group Ltd. grew its stake in shares of East West Bancorp by 5.5% in the second quarter. Macquarie Group Ltd. now owns 4,262,200 shares of the financial services provider’s stock worth $249,680,000 after acquiring an additional 223,419 shares during the period. 90.74% of the stock is owned by institutional investors and hedge funds.

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EWBC has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of East West Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Piper Jaffray Companies set a $74.00 price target on shares of East West Bancorp and gave the stock a “buy” rating in a research note on Saturday, October 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $63.00 price target (up from $61.00) on shares of East West Bancorp in a research note on Wednesday, October 4th. Wedbush reiterated an “outperform” rating and issued a $66.00 price target (down from $68.00) on shares of East West Bancorp in a research note on Friday, October 20th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $65.00 price target on shares of East West Bancorp in a research note on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. East West Bancorp presently has a consensus rating of “Hold” and an average target price of $64.60.

Shares of East West Bancorp, Inc. (EWBC) opened at $56.66 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.13. The stock has a market cap of $8,189.81, a P/E ratio of 16.96, a P/E/G ratio of 1.54 and a beta of 1.47. East West Bancorp, Inc. has a 12-month low of $43.09 and a 12-month high of $61.90.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.03. The company had revenue of $348.97 million during the quarter, compared to analyst estimates of $349.28 million. East West Bancorp had a net margin of 34.75% and a return on equity of 13.51%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 earnings per share. equities analysts predict that East West Bancorp, Inc. will post 3.49 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 31st. This represents a $0.80 annualized dividend and a yield of 1.41%. East West Bancorp’s dividend payout ratio (DPR) is 21.98%.

In other East West Bancorp news, Director Rudolph Estrada sold 1,916 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $55.97, for a total value of $107,238.52. Following the completion of the transaction, the director now directly owns 15,475 shares in the company, valued at $866,135.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Herman Y. Li sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $61.00, for a total transaction of $610,000.00. Following the completion of the transaction, the director now owns 40,130 shares of the company’s stock, valued at $2,447,930. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.

About East West Bancorp

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

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