Geode Capital Management LLC lowered its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 1.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,329,378 shares of the financial services provider’s stock after selling 19,193 shares during the period. Geode Capital Management LLC’s holdings in East West Bancorp were worth $80,823,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. National Pension Service bought a new position in East West Bancorp in the fourth quarter valued at approximately $116,000. Contravisory Investment Management Inc. bought a new position in East West Bancorp in the fourth quarter valued at approximately $129,000. Field & Main Bank bought a new position in East West Bancorp in the fourth quarter valued at approximately $146,000. Advisor Partners LLC bought a new position in East West Bancorp in the fourth quarter valued at approximately $213,000. Finally, YHB Investment Advisors Inc. bought a new position in East West Bancorp in the fourth quarter valued at approximately $217,000. 91.66% of the stock is currently owned by hedge funds and other institutional investors.
EWBC has been the topic of a number of research reports. Deutsche Bank raised shares of East West Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, February 6th. Zacks Investment Research raised shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Monday, January 8th. BidaskClub raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Morgan Stanley boosted their price objective on shares of East West Bancorp from $61.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Finally, SunTrust Banks reissued a “buy” rating and issued a $68.00 price objective on shares of East West Bancorp in a research report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $69.50.
Shares of East West Bancorp, Inc. (EWBC) opened at $67.41 on Tuesday. 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 company has a market cap 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, Inc. has a 1 year low of $48.07 and a 1 year high of $69.25.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.87 EPS for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.04). The business had revenue of $365.06 million during the quarter, compared to the consensus estimate of $359.43 million. East West Bancorp had a return on equity of 13.56% and a net margin of 31.93%. 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 earned $0.76 EPS. research analysts forecast that East West Bancorp, Inc. will post 4.4 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, February 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. East West Bancorp’s payout ratio is 23.12%.
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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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