ETRADE Capital Management LLC Grows Position in East West Bancorp, Inc. (EWBC)
ETRADE Capital Management LLC raised its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 55.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,993 shares of the financial services provider’s stock after acquiring an additional 2,507 shares during the period. ETRADE Capital Management LLC’s holdings in East West Bancorp were worth $425,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. National Pension Service acquired a new position in East West Bancorp in the 4th quarter valued at $116,000. Contravisory Investment Management Inc. acquired a new position in East West Bancorp in the 4th quarter valued at $129,000. Field & Main Bank acquired a new position in East West Bancorp in the 4th quarter valued at $146,000. Advisor Partners LLC acquired a new position in East West Bancorp in the 4th quarter valued at $213,000. Finally, YHB Investment Advisors Inc. acquired a new position in East West Bancorp in the 4th quarter valued at $217,000. 91.66% of the stock is owned by hedge funds and other institutional investors.
EWBC has been the subject of several analyst reports. Deutsche Bank raised East West Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, February 6th. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Monday, January 8th. BidaskClub raised East West Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Morgan Stanley lifted their price objective on East West Bancorp from $61.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, December 13th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $68.00 price objective on shares of East West Bancorp in a report on Wednesday, November 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. East West Bancorp currently has a consensus rating of “Hold” and an average price target of $69.50.
East West Bancorp, Inc. (NASDAQ EWBC) opened at $67.41 on Tuesday. East West Bancorp, Inc. has a 52 week low of $48.07 and a 52 week high of $69.25. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $9,847.78, a price-to-earnings ratio of 19.48, a PEG ratio of 1.48 and a beta of 1.40.
East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.04). East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. The business had revenue of $365.06 million during the quarter, compared to the consensus estimate of $359.43 million. During the same quarter in the previous year, the business posted $0.76 EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. sell-side analysts expect that East West Bancorp, Inc. will post 4.4 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. East West Bancorp’s payout ratio is 23.12%.
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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