DNB Asset Management AS Increases Stake in East West Bancorp, Inc. (NASDAQ:EWBC)

DNB Asset Management AS increased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 6.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,923 shares of the financial services provider’s stock after purchasing an additional 905 shares during the quarter. DNB Asset Management AS’s holdings in East West Bancorp were worth $661,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of EWBC. First Trust Advisors LP increased its position in East West Bancorp by 10.3% during the 1st quarter. First Trust Advisors LP now owns 331,801 shares of the financial services provider’s stock worth $15,916,000 after purchasing an additional 30,918 shares in the last quarter. Advisory Services Network LLC increased its position in East West Bancorp by 231.6% during the 1st quarter. Advisory Services Network LLC now owns 3,929 shares of the financial services provider’s stock worth $189,000 after purchasing an additional 2,744 shares in the last quarter. FMR LLC increased its position in East West Bancorp by 51.5% during the 1st quarter. FMR LLC now owns 510,524 shares of the financial services provider’s stock worth $24,490,000 after purchasing an additional 173,633 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its position in East West Bancorp by 1.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 201,028 shares of the financial services provider’s stock worth $9,643,000 after purchasing an additional 2,791 shares in the last quarter. Finally, Denali Advisors LLC acquired a new stake in East West Bancorp during the 2nd quarter worth approximately $1,515,000. 88.42% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on the stock. Raymond James downgraded shares of East West Bancorp from a “market perform” rating to an “underperform” rating in a research report on Tuesday, October 8th. Wedbush dropped their target price on shares of East West Bancorp from $55.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. BidaskClub downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. BMO Capital Markets downgraded shares of East West Bancorp from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $51.00 to $44.00 in a research report on Monday, August 19th. Finally, Morgan Stanley dropped their target price on shares of East West Bancorp from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. East West Bancorp presently has an average rating of “Hold” and an average price target of $53.43.

Shares of NASDAQ:EWBC opened at $43.18 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.18. East West Bancorp, Inc. has a 52-week low of $37.69 and a 52-week high of $56.09. The company has a 50 day moving average of $43.34 and a two-hundred day moving average of $45.43. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 0.88 and a beta of 1.69.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.03). East West Bancorp had a net margin of 31.98% and a return on equity of 14.90%. The firm had revenue of $421.28 million during the quarter, compared to analyst estimates of $418.32 million. During the same period last year, the business earned $1.17 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, equities analysts anticipate that East West Bancorp, Inc. will post 4.8 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, October 31st. East West Bancorp’s dividend payout ratio (DPR) is 23.61%.

In other East West Bancorp news, Director Paul H. Irving bought 1,000 shares of East West Bancorp stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $38.69 per share, for a total transaction of $38,690.00. Following the purchase, the director now owns 30,268 shares in the company, valued at approximately $1,171,068.92. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Irene H. Oh bought 6,400 shares of East West Bancorp stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average price of $39.10 per share, with a total value of $250,240.00. Following the completion of the purchase, the chief financial officer now owns 59,589 shares in the company, valued at approximately $2,329,929.90. The disclosure for this purchase can be found here. Insiders acquired 38,052 shares of company stock valued at $1,478,330 in the last ninety days. 0.61% of the stock is owned by corporate insiders.

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

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