East West Bancorp, Inc. (EWBC) Shares Sold by Allianz Asset Management GmbH
Allianz Asset Management GmbH cut its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 5.4% during the fourth quarter, HoldingsChannel reports. The firm owned 615,950 shares of the financial services provider’s stock after selling 34,970 shares during the quarter. Allianz Asset Management GmbH’s holdings in East West Bancorp were worth $37,467,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. National Pension Service purchased a new position in East West Bancorp in the 4th quarter worth approximately $116,000. Contravisory Investment Management Inc. purchased a new position in East West Bancorp in the 4th quarter worth approximately $129,000. Field & Main Bank purchased a new position in East West Bancorp in the 4th quarter worth approximately $146,000. Advisor Partners LLC purchased a new position in East West Bancorp in the 4th quarter worth approximately $213,000. Finally, YHB Investment Advisors Inc. purchased a new position in East West Bancorp in the 4th quarter worth approximately $217,000. 91.11% of the stock is currently owned by institutional investors.
A number of research analysts recently commented on the company. BidaskClub raised East West Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Sandler O’Neill reaffirmed a “buy” rating and set a $69.00 price objective on shares of East West Bancorp in a report on Thursday, January 4th. Barclays upped their price objective on East West Bancorp from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $72.00 price objective (up from $65.00) on shares of East West Bancorp in a report on Tuesday, January 9th. Finally, ValuEngine raised East West Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. East West Bancorp currently has a consensus rating of “Hold” and an average target price of $69.50.
East West Bancorp (NASDAQ:EWBC) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.87 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.04). The company had revenue of $365.06 million for the quarter, compared to the consensus estimate of $359.43 million. East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 EPS. equities research analysts predict that East West Bancorp, Inc. will post 4.4 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, February 2nd. East West Bancorp’s dividend payout ratio is currently 22.04%.
In other news, insider Douglas Paul Krause sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $61.26, for a total transaction of $306,300.00. Following the transaction, the insider now owns 18,015 shares of the company’s stock, valued at approximately $1,103,598.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $68.50, for a total value of $137,000.00. Following the transaction, the director now directly owns 21,599 shares in the company, valued at approximately $1,479,531.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,000 shares of company stock worth $576,680. Corporate insiders own 0.88% of the company’s stock.
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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