Oppenheimer & Co. Inc. trimmed its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 82.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,996 shares of the financial services provider’s stock after selling 23,944 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in East West Bancorp were worth $234,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of the business. Berman Capital Advisors LLC lifted its stake in East West Bancorp by 170.4% during the 1st quarter. Berman Capital Advisors LLC now owns 622 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 392 shares during the period. Advantage Investment Management LLC increased its stake in East West Bancorp by 64.1% in the second quarter. Advantage Investment Management LLC now owns 717 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 280 shares during the period. Icon Wealth Partners LLC purchased a new position in shares of East West Bancorp during the first quarter valued at $37,000. FTB Advisors Inc. purchased a new position in East West Bancorp in the second quarter valued at about $44,000. Finally, Meeder Asset Management Inc. boosted its holdings in East West Bancorp by 1,042.9% in the second quarter. Meeder Asset Management Inc. now owns 960 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 876 shares in the last quarter. 89.48% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on the company. Wedbush reiterated an “outperform” rating and set a $50.00 price target (down from $57.00) on shares of East West Bancorp in a research report on Monday, June 3rd. Raymond James raised East West Bancorp from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 29th. They noted that the move was a valuation call. BMO Capital Markets downgraded East West Bancorp from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $51.00 to $44.00 in a research note on Monday, August 19th. BidaskClub raised East West Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley upgraded East West Bancorp from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $59.00 to $57.00 in a report on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $57.33.
Shares of NASDAQ EWBC traded up $0.58 during mid-day trading on Friday, hitting $46.37. The company had a trading volume of 7,221 shares, compared to its average volume of 931,436. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50-day simple moving average is $42.38 and its 200-day simple moving average is $47.03. East West Bancorp, Inc. has a 12 month low of $37.69 and a 12 month high of $64.04. The firm has a market cap of $6.76 billion, a P/E ratio of 9.97, a PEG ratio of 1.01 and a beta of 1.68.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.24 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.24. The company had revenue of $420.09 million during the quarter, compared to analyst estimates of $416.35 million. East West Bancorp had a net margin of 32.92% and a return on equity of 15.42%. During the same quarter last year, the business posted $1.18 earnings per share. As a group, sell-side analysts predict that East West Bancorp, Inc. will post 4.89 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a $0.275 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.10 annualized dividend and a yield of 2.37%. East West Bancorp’s dividend payout ratio is currently 23.61%.
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.
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).
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.