Canada Pension Plan Investment Board cut its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 6.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,700 shares of the financial services provider’s stock after selling 4,600 shares during the quarter. Canada Pension Plan Investment Board’s holdings in East West Bancorp were worth $3,868,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. boosted its stake in East West Bancorp by 11.5% during the second quarter. BlackRock Inc. now owns 13,329,464 shares of the financial services provider’s stock valued at $780,841,000 after buying an additional 1,373,528 shares during the period. Vanguard Group Inc. boosted its stake in East West Bancorp by 7.5% during the second quarter. Vanguard Group Inc. now owns 12,734,214 shares of the financial services provider’s stock valued at $745,971,000 after buying an additional 893,764 shares during the period. State Street Corp lifted its stake in East West Bancorp by 16.5% during the second quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock worth $415,902,000 after purchasing an additional 1,004,860 shares during the last quarter. Boston Partners lifted its stake in East West Bancorp by 14.4% during the second quarter. Boston Partners now owns 6,568,832 shares of the financial services provider’s stock worth $384,802,000 after purchasing an additional 828,887 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its stake in East West Bancorp by 5.5% during the second quarter. Macquarie Group Ltd. now owns 4,262,200 shares of the financial services provider’s stock worth $249,680,000 after purchasing an additional 223,419 shares during the last quarter. 90.58% of the stock is owned by institutional investors.

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East West Bancorp, Inc. (EWBC) opened at $57.40 on Thursday. The company has a market cap of $8,272.19, a P/E ratio of 17.14, a PEG ratio of 1.56 and a beta of 1.47. East West Bancorp, Inc. has a 1 year low of $45.52 and a 1 year high of $61.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.99 and a current ratio of 0.99.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.03. The business had revenue of $348.97 million for 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 company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the company posted $0.76 earnings per share. research analysts anticipate that East West Bancorp, Inc. will post 3.49 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Tuesday, October 31st. East West Bancorp’s payout ratio is 21.98%.

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

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research lowered East West Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub cut East West Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $57.00 price target on shares of East West Bancorp in a report on Tuesday, September 26th. Morgan Stanley restated an “equal weight” rating and issued a $63.00 price objective (up from $61.00) on shares of East West Bancorp in a research note on Wednesday, October 4th. Finally, Raymond James Financial, Inc. upgraded East West Bancorp from an “underperform” rating to a “market perform” rating in a research note on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $64.60.

East West Bancorp Company 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.

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

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