Jaffetilchin Investment Partners LLC lowered its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 24.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,306 shares of the financial services provider’s stock after selling 4,506 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in East West Bancorp were worth $838,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in EWBC. Strs Ohio bought a new position in East West Bancorp during the second quarter valued at about $110,000. Washington Trust Bank increased its position in East West Bancorp by 3.7% in the first quarter. Washington Trust Bank now owns 2,380 shares of the financial services provider’s stock valued at $123,000 after buying an additional 86 shares during the last quarter. IFP Advisors Inc increased its position in East West Bancorp by 126.0% in the second quarter. IFP Advisors Inc now owns 2,857 shares of the financial services provider’s stock valued at $167,000 after buying an additional 1,593 shares during the last quarter. Eagle Global Advisors LLC bought a new position in East West Bancorp during the second quarter valued at about $222,000. Finally, Daiwa Securities Group Inc. bought a new position in East West Bancorp during the second quarter valued at about $249,000. 92.16% of the stock is currently owned by hedge funds and other institutional investors.
Shares of East West Bancorp, Inc. (EWBC) opened at 56.60 on Wednesday. The firm has a market capitalization of $8.18 billion, a PE ratio of 16.17 and a beta of 1.41. The stock has a 50 day moving average of $57.72 and a 200-day moving average of $55.04. East West Bancorp, Inc. has a 12 month low of $34.07 and a 12 month high of $60.42.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.81 EPS for the quarter, hitting the consensus estimate of $0.81. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. The business had revenue of $337.49 million for the quarter, compared to analyst estimates of $329.32 million. During the same period in the previous year, the firm earned $0.71 EPS. On average, equities research analysts anticipate that East West Bancorp, Inc. will post $3.74 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. East West Bancorp’s dividend payout ratio is presently 22.92%.
Several equities analysts have issued reports on EWBC shares. Deutsche Bank AG downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 price objective on the stock. in a report on Friday, July 14th. Barclays PLC reaffirmed an “overweight” rating and set a $63.00 price objective (up from $61.00) on shares of East West Bancorp in a report on Sunday, April 23rd. BidaskClub downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $57.00 price objective on shares of East West Bancorp in a report on Friday, June 23rd. Finally, Zacks Investment Research downgraded shares of East West Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 9th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. East West Bancorp presently has an average rating of “Hold” and a consensus target price of $62.88.
In related news, Director Jack C. Liu sold 1,123 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $59.00, for a total value of $66,257.00. Following the sale, the director now directly owns 23,669 shares in the company, valued at approximately $1,396,471. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is owned by insiders.
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.
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