APG Asset Management N.V. acquired a new position in East West Bancorp, Inc. (NASDAQ:EWBC) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 148,500 shares of the financial services provider’s stock, valued at approximately $8,877,000. APG Asset Management N.V. owned approximately 0.10% of East West Bancorp as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank purchased a new position in East West Bancorp in the 2nd quarter valued at about $104,000. Strs Ohio purchased a new position in East West Bancorp in the 2nd quarter valued at about $110,000. San Francisco Sentry Investment Group CA purchased a new position in East West Bancorp in the 2nd quarter valued at about $138,000. D.A. Davidson & CO. lifted its holdings in East West Bancorp by 1.0% in the 2nd quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 26 shares in the last quarter. Finally, Americafirst Capital Management LLC purchased a new position in East West Bancorp in the 2nd quarter valued at about $149,000. Institutional investors and hedge funds own 90.67% of the company’s stock.
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In other news, Director Herman Y. Li sold 10,000 shares of East West Bancorp stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $61.00, for a total transaction of $610,000.00. Following the completion of the sale, the director now directly owns 40,130 shares in the company, valued at approximately $2,447,930. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rudolph Estrada sold 1,916 shares of East West Bancorp stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $55.97, for a total value of $107,238.52. Following the sale, the director now owns 15,475 shares of the company’s stock, valued at $866,135.75. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.
EWBC has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of East West Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Morgan Stanley restated an “equal weight” rating and issued a $60.00 target price (up from $59.00) on shares of East West Bancorp in a report on Thursday, July 6th. Deutsche Bank AG lowered shares of East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 target price on the stock. in a report on Friday, July 14th. BMO Capital Markets lowered shares of East West Bancorp from an “outperform” rating to a “market perform” rating and set a $63.00 target price on the stock. in a report on Friday, July 7th. Finally, SunTrust Banks, Inc. restated a “buy” rating and issued a $65.00 target price on shares of East West Bancorp in a report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $64.60.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.03. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The firm had revenue of $348.97 million during the quarter, compared to analyst estimates of $349.28 million. During the same period last year, the company posted $0.76 EPS. The business’s quarterly revenue was up 15.0% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. East West Bancorp’s payout ratio is presently 21.98%.
East West Bancorp Profile
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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