Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 51.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,338 shares of the financial services provider’s stock after selling 38,661 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in East West Bancorp were worth $935,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Arden Trust Co purchased a new stake in shares of East West Bancorp during the 1st quarter worth about $38,000. Squar Milner Financial Services LLC boosted its stake in shares of East West Bancorp by 27.2% during the 4th quarter. Squar Milner Financial Services LLC now owns 1,094 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 234 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new stake in shares of East West Bancorp during the 4th quarter worth about $57,000. Smithfield Trust Co. raised its position in shares of East West Bancorp by 2,775.0% during the 1st quarter. Smithfield Trust Co. now owns 2,300 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 2,220 shares during the last quarter. Finally, Pendal Group Ltd raised its position in shares of East West Bancorp by 65.7% during the 1st quarter. Pendal Group Ltd now owns 3,062 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 1,214 shares during the last quarter. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently weighed in on EWBC. Morgan Stanley upped their price target on shares of East West Bancorp from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Keefe, Bruyette & Woods downgraded shares of East West Bancorp from an “outperform” rating to a “market perform” rating and set a $34.00 price target for the company. in a research report on Wednesday, April 1st. SunTrust Banks upped their price target on shares of East West Bancorp from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday. DA Davidson reduced their price target on shares of East West Bancorp from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Finally, BidaskClub upgraded shares of East West Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 28th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $38.33.

EWBC stock opened at $33.67 on Friday. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 7.50, a PEG ratio of 0.99 and a beta of 2.03. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.16. East West Bancorp, Inc. has a 12 month low of $22.55 and a 12 month high of $51.88. The firm has a 50-day moving average of $30.46 and a two-hundred day moving average of $40.53.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.03. The company had revenue of $416.76 million during the quarter, compared to the consensus estimate of $401.75 million. East West Bancorp had a net margin of 31.34% and a return on equity of 14.00%. During the same quarter in the prior year, the firm earned $1.16 EPS. As a group, equities analysts forecast that East West Bancorp, Inc. will post 3.4 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were issued a $0.275 dividend. The ex-dividend date was Friday, May 1st. This represents a $1.10 dividend on an annualized basis and a yield of 3.27%. East West Bancorp’s payout ratio is 22.73%.

In other news, Director Herman Y. Li sold 10,172 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $30.06, for a total transaction of $305,770.32. Following the completion of the sale, the director now owns 25,789 shares in the company, valued at approximately $775,217.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Herman Y. Li sold 3,300 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $31.03, for a total transaction of $102,399.00. Following the sale, the director now owns 35,961 shares of the company’s stock, valued at approximately $1,115,869.83. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

East West Bancorp Company Profile

East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

Further Reading: What is the return on assets (ROA) ratio?

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

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