Zhang Financial LLC acquired a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,889 shares of the financial services provider’s stock, valued at approximately $842,000.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Quarry LP increased its holdings in shares of East West Bancorp by 35.4% in the third quarter. Quarry LP now owns 390 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 102 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of East West Bancorp by 1.8% during the third quarter. Quadrant Capital Group LLC now owns 5,674 shares of the financial services provider’s stock worth $604,000 after purchasing an additional 102 shares during the period. Bradley Foster & Sargent Inc. CT lifted its holdings in shares of East West Bancorp by 1.1% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 9,195 shares of the financial services provider’s stock worth $1,033,000 after purchasing an additional 102 shares during the period. Swiss Life Asset Management Ltd grew its position in East West Bancorp by 1.7% in the 4th quarter. Swiss Life Asset Management Ltd now owns 6,404 shares of the financial services provider’s stock valued at $720,000 after buying an additional 104 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its position in East West Bancorp by 44.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock valued at $39,000 after buying an additional 113 shares during the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.
Insider Activity at East West Bancorp
In related news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $123.50, for a total transaction of $1,235,000.00. Following the sale, the insider owned 46,974 shares of the company’s stock, valued at approximately $5,801,289. The trade was a 17.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Irene H. Oh sold 800 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $133.19, for a total transaction of $106,552.00. Following the transaction, the insider owned 84,698 shares in the company, valued at $11,280,926.62. The trade was a 0.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,311 shares of company stock worth $6,784,711 over the last three months. 0.94% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Get Our Latest Report on East West Bancorp
East West Bancorp Trading Down 1.2%
Shares of EWBC stock opened at $134.52 on Friday. The business’s fifty day moving average price is $127.00 and its 200 day moving average price is $118.89. The firm has a market capitalization of $18.43 billion, a PE ratio of 13.44, a P/E/G ratio of 1.55 and a beta of 0.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. East West Bancorp, Inc. has a 1-year low of $92.67 and a 1-year high of $136.24.
East West Bancorp (NASDAQ:EWBC – Get Free Report) last released its earnings results on Tuesday, April 21st. The financial services provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.11. The company had revenue of $773.75 million during the quarter, compared to the consensus estimate of $767.80 million. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.East West Bancorp’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 earnings per share. As a group, sell-side analysts forecast that East West Bancorp, Inc. will post 10.56 EPS for the current fiscal year.
East West Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Investors of record on Monday, May 4th were paid a $0.80 dividend. The ex-dividend date was Monday, May 4th. This represents a $3.20 annualized dividend and a dividend yield of 2.4%. East West Bancorp’s dividend payout ratio (DPR) is 31.97%.
East West Bancorp Company Profile
East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.
Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.
Featured Articles
- Five stocks we like better than East West Bancorp
- Netflix May Be Cheap Enough to Tempt Buyers After Earnings Drop
- Delta vs. United: Which Airline Is Better Built for Higher Fuel Costs?
- The Market Sold Alcoa After Earnings—But It May Be Missing the Real Story
- Why Intuitive Surgical’s Strong Quarter Still Spooked Investors
Want to see what other hedge funds are holding EWBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for East West Bancorp, Inc. (NASDAQ:EWBC – Free Report).
Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.
