FSI Group LLC Purchases Shares of 9,000 East West Bancorp, Inc. (NASDAQ:EWBC)

FSI Group LLC purchased a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,000 shares of the financial services provider’s stock, valued at approximately $399,000. East West Bancorp makes up about 0.6% of FSI Group LLC’s investment portfolio, making the stock its 20th biggest position.

Other large investors have also recently modified their holdings of the company. Advantage Investment Management LLC lifted its holdings in shares of 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 buying an additional 280 shares in the last quarter. QCI Asset Management Inc. NY purchased a new position in shares of East West Bancorp in the second quarter worth $37,000. FTB Advisors Inc. purchased a new position in shares of East West Bancorp in the second quarter worth $44,000. Meeder Asset Management Inc. lifted its holdings in shares of 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 buying an additional 876 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of East West Bancorp in the second quarter worth $47,000. 88.42% of the stock is currently owned by institutional investors and hedge funds.

EWBC traded down $0.77 during trading hours on Thursday, hitting $42.20. The company’s stock had a trading volume of 7,623 shares, compared to its average volume of 1,151,716. The business’s 50-day moving average price is $43.37 and its 200-day moving average price is $45.38. East West Bancorp, Inc. has a 12 month low of $37.69 and a 12 month high of $56.09. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 9.29, a P/E/G ratio of 0.90 and a beta of 1.69. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.18.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.03). East West Bancorp had a return on equity of 14.90% and a net margin of 31.98%. The business had revenue of $421.28 million during the quarter, compared to the consensus estimate of $418.32 million. During the same quarter in the prior year, the firm posted $1.17 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts forecast that East West Bancorp, Inc. will post 4.78 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, October 31st. East West Bancorp’s dividend payout ratio is presently 23.61%.

In other East West Bancorp news, CEO Dominic Ng purchased 25,840 shares of East West Bancorp stock in a transaction that occurred on Thursday, August 29th. The shares were bought at an average price of $38.71 per share, for a total transaction of $1,000,266.40. Following the completion of the transaction, the chief executive officer now owns 538,250 shares of the company’s stock, valued at approximately $20,835,657.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andy Yen purchased 1,300 shares of East West Bancorp stock in a transaction that occurred on Wednesday, August 28th. The stock was acquired at an average price of $38.92 per share, for a total transaction of $50,596.00. Following the transaction, the executive vice president now directly owns 55,849 shares of the company’s stock, valued at approximately $2,173,643.08. The disclosure for this purchase can be found here. Insiders purchased 38,052 shares of company stock worth $1,478,330 in the last 90 days. 0.61% of the stock is currently owned by company insiders.

Several equities analysts have recently commented on the stock. BidaskClub downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Co lowered their target price on shares of East West Bancorp from $60.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. BMO Capital Markets downgraded shares of East West Bancorp from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $51.00 to $44.00 in a report on Monday, August 19th. Zacks Investment Research raised shares of East West Bancorp from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a report on Friday, October 4th. Finally, ValuEngine raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. East West Bancorp currently has an average rating of “Hold” and an average price target of $53.43.

About East West Bancorp

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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