Oppenheimer & Co. Inc. Decreases Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

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.



In other East West Bancorp news, Director Rudolph Estrada acquired 1,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was purchased at an average price of $38.51 per share, with a total value of $38,510.00. Following the acquisition, the director now directly owns 18,603 shares of the company’s stock, valued at approximately $716,401.53. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Dominic Ng purchased 25,840 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were purchased at an average cost of $38.71 per share, with a total value of $1,000,266.40. Following the acquisition, the chief executive officer now owns 538,250 shares in the company, valued at approximately $20,835,657.50. The disclosure for this purchase can be found here. Insiders purchased a total of 38,052 shares of company stock worth $1,478,330 over the last ninety days. 0.61% of the stock is currently owned by insiders.

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.

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

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