Alps Advisors Inc. Increases Position in East West Bancorp, Inc. (EWBC)

Alps Advisors Inc. boosted its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 57.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 18,162 shares of the financial services provider’s stock after buying an additional 6,596 shares during the period. Alps Advisors Inc.’s holdings in East West Bancorp were worth $1,086,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Jennison Associates LLC grew its stake in East West Bancorp by 9.0% in the 3rd quarter. Jennison Associates LLC now owns 2,621,038 shares of the financial services provider’s stock valued at $156,686,000 after buying an additional 216,414 shares during the last quarter. ZWJ Investment Counsel Inc. grew its stake in East West Bancorp by 0.7% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 210,349 shares of the financial services provider’s stock valued at $12,575,000 after buying an additional 1,488 shares during the last quarter. Jaffetilchin Investment Partners LLC grew its stake in East West Bancorp by 21.0% in the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 17,307 shares of the financial services provider’s stock valued at $1,035,000 after buying an additional 3,001 shares during the last quarter. Principal Financial Group Inc. grew its stake in East West Bancorp by 2.1% in the 3rd quarter. Principal Financial Group Inc. now owns 3,012,281 shares of the financial services provider’s stock valued at $180,074,000 after buying an additional 60,965 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in East West Bancorp by 49.7% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 78,964 shares of the financial services provider’s stock valued at $4,720,000 after buying an additional 26,202 shares during the last quarter. Institutional investors and hedge funds own 90.58% of the company’s stock.

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In related news, Director Rudolph Estrada sold 1,916 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $55.97, for a total value of $107,238.52. Following the completion of the transaction, the director now owns 15,475 shares of the company’s stock, valued at approximately $866,135.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Herman Y. Li sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $61.00, for a total transaction of $610,000.00. Following the completion of the transaction, the director now directly owns 40,130 shares of the company’s stock, valued at approximately $2,447,930. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.

Shares of East West Bancorp, Inc. (EWBC) opened at $57.03 on Tuesday. East West Bancorp, Inc. has a twelve month low of $45.26 and a twelve month high of $61.90. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.13. The firm has a market cap of $8,189.80, a P/E ratio of 16.96, a PEG ratio of 1.54 and a beta of 1.47.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.03. East West Bancorp had a net margin of 34.75% and a return on equity of 13.51%. The company had revenue of $348.97 million during the quarter, compared to the consensus estimate of $349.28 million. During the same quarter in the prior year, the firm posted $0.76 EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. research analysts forecast that East West Bancorp, Inc. will post 3.49 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Tuesday, October 31st. East West Bancorp’s dividend payout ratio (DPR) is presently 21.98%.

A number of research firms have issued reports on EWBC. Zacks Investment Research downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub downgraded shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $57.00 price objective on shares of East West Bancorp in a report on Tuesday, September 26th. Morgan Stanley reissued an “equal weight” rating and issued a $63.00 price objective (up previously from $61.00) on shares of East West Bancorp in a report on Wednesday, October 4th. Finally, Raymond James Financial, Inc. raised shares of East West Bancorp from an “underperform” rating to a “market perform” rating in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $64.60.

East West Bancorp Company 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.

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

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