Toronto Dominion Bank raised its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 30.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,639 shares of the financial services provider’s stock after buying an additional 6,437 shares during the period. Toronto Dominion Bank’s holdings in East West Bancorp were worth $1,326,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Millennium Management LLC boosted its position in East West Bancorp by 78.8% in the 4th quarter. Millennium Management LLC now owns 1,256,633 shares of the financial services provider’s stock valued at $54,701,000 after buying an additional 553,961 shares during the last quarter. Macquarie Group Ltd. boosted its position in East West Bancorp by 3.4% in the 4th quarter. Macquarie Group Ltd. now owns 3,584,601 shares of the financial services provider’s stock valued at $156,037,000 after buying an additional 119,282 shares during the last quarter. Fisher Asset Management LLC boosted its position in East West Bancorp by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 2,155,733 shares of the financial services provider’s stock valued at $93,839,000 after buying an additional 27,128 shares during the last quarter. Dupont Capital Management Corp boosted its position in East West Bancorp by 89.1% in the 4th quarter. Dupont Capital Management Corp now owns 39,777 shares of the financial services provider’s stock valued at $1,731,000 after buying an additional 18,745 shares during the last quarter. Finally, BOKF NA boosted its position in East West Bancorp by 5.8% in the 4th quarter. BOKF NA now owns 29,249 shares of the financial services provider’s stock valued at $1,273,000 after buying an additional 1,607 shares during the last quarter. 88.61% of the stock is owned by institutional investors.
EWBC has been the subject of a number of analyst reports. BidaskClub raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. TheStreet raised shares of East West Bancorp from a “c+” rating to a “b” rating in a research report on Thursday, February 7th. Wedbush increased their price target on shares of East West Bancorp from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, March 8th. Zacks Investment Research raised shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Tuesday, March 12th. Finally, ValuEngine cut shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $64.63.
In related news, Director Jack C. Liu sold 2,108 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $55.20, for a total transaction of $116,361.60. Following the sale, the director now owns 18,857 shares in the company, valued at $1,040,906.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.
EWBC traded up $0.45 on Friday, hitting $45.72. 944,442 shares of the company’s stock were exchanged, compared to its average volume of 887,671. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 9.81, a price-to-earnings-growth ratio of 0.91 and a beta of 1.55. East West Bancorp, Inc. has a twelve month low of $40.05 and a twelve month high of $73.98. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.06). The business had revenue of $404.59 million for the quarter, compared to analyst estimates of $411.11 million. East West Bancorp had a return on equity of 15.78% and a net margin of 35.42%. During the same quarter last year, the company earned $1.13 EPS. Research analysts anticipate that East West Bancorp, Inc. will post 4.99 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a dividend of $0.275 per share. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.23. The ex-dividend date was Tuesday, April 30th. This represents a $1.10 annualized dividend and a yield of 2.41%. East West Bancorp’s dividend payout ratio is 23.61%.
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East West Bancorp 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.
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