Allianz Asset Management GmbH decreased its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 13.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 650,920 shares of the financial services provider’s stock after selling 98,570 shares during the quarter. Allianz Asset Management GmbH owned 0.45% of East West Bancorp worth $38,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in EWBC. Strs Ohio bought a new stake in East West Bancorp in the 2nd quarter worth approximately $110,000. Great West Life Assurance Co. Can lifted its position in East West Bancorp by 35.9% in the 2nd quarter. Great West Life Assurance Co. Can now owns 136,050 shares of the financial services provider’s stock worth $7,962,000 after buying an additional 35,974 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in East West Bancorp in the 2nd quarter worth approximately $249,000. World Asset Management Inc lifted its position in East West Bancorp by 4.0% in the 2nd quarter. World Asset Management Inc now owns 9,298 shares of the financial services provider’s stock worth $545,000 after buying an additional 354 shares during the last quarter. Finally, Sei Investments Co. increased its stake in East West Bancorp by 38.8% in the 2nd quarter. Sei Investments Co. now owns 94,411 shares of the financial services provider’s stock worth $5,531,000 after purchasing an additional 26,403 shares during the period. Institutional investors own 91.41% of the company’s stock.
A number of equities analysts have commented on EWBC shares. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Thursday, September 21st. SunTrust Banks reaffirmed a “buy” rating and issued a $65.00 price target on shares of East West Bancorp in a research note on Thursday, October 12th. Barclays set a $66.00 price target on East West Bancorp and gave the stock a “buy” rating in a research note on Friday, October 20th. Piper Jaffray Companies set a $74.00 price target on East West Bancorp and gave the stock a “buy” rating in a research note on Saturday, October 21st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $63.00 price target (up from $61.00) on shares of East West Bancorp in a research note on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. East West Bancorp currently has an average rating of “Hold” and an average target price of $64.90.
East West Bancorp, Inc. (NASDAQ:EWBC) opened at $60.20 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.99 and a current ratio of 0.99. East West Bancorp, Inc. has a 12 month low of $48.07 and a 12 month high of $63.92. The stock has a market capitalization of $8,636.44, a P/E ratio of 17.89, a PEG ratio of 1.63 and a beta of 1.46.
East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $349.28 million. During the same period in the previous year, the firm earned $0.76 earnings per share. The business’s revenue was up 15.0% compared to the same quarter last year. sell-side analysts anticipate that East West Bancorp, Inc. will post 3.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.33%. East West Bancorp’s dividend payout ratio (DPR) is presently 21.98%.
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About East West Bancorp
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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