East West Bancorp, Inc. (EWBC) Stake Lowered by Fjarde AP Fonden Fourth Swedish National Pension Fund
Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 7.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,356 shares of the financial services provider’s stock after selling 3,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in East West Bancorp were worth $2,532,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Toronto Dominion Bank acquired a new position in East West Bancorp in the second quarter valued at approximately $104,000. Strs Ohio bought a new position in East West Bancorp in the 2nd quarter valued at $110,000. San Francisco Sentry Investment Group CA bought a new position in East West Bancorp in the 2nd quarter valued at $138,000. D.A. Davidson & CO. grew its stake 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 during the period. Finally, Americafirst Capital Management LLC bought a new position in East West Bancorp in the 2nd quarter valued at $149,000. 90.34% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Herman Y. Li sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $61.00, for a total value of $610,000.00. Following the completion of the sale, the director now directly owns 40,130 shares of the company’s stock, valued at $2,447,930. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Rudolph Estrada sold 1,916 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $55.97, for a total transaction of $107,238.52. Following the completion of the sale, the director now directly owns 15,475 shares of the company’s stock, valued at $866,135.75. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.
East West Bancorp, Inc. (NASDAQ EWBC) opened at $58.24 on Wednesday. The firm has a market cap of $8,400.83, a PE ratio of 17.40, a P/E/G ratio of 1.58 and a beta of 1.47. East West Bancorp, Inc. has a 12 month low of $46.22 and a 12 month high of $61.90. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.13.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.89 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $348.97 million for the quarter, compared to analyst estimates of $349.28 million. During the same quarter in the previous year, the company earned $0.76 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. equities analysts anticipate that East West Bancorp, Inc. will post 3.49 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, October 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.37%. East West Bancorp’s dividend payout ratio (DPR) is currently 21.98%.
A number of equities analysts have weighed in on EWBC shares. Zacks Investment Research upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. Barclays PLC set a $66.00 price objective on East West Bancorp and gave the company a “buy” rating in a research report on Friday, October 20th. BMO Capital Markets increased their price objective on East West Bancorp from $61.00 to $63.00 and gave the company a “market perform” rating in a research report on Friday, October 20th. DA Davidson reiterated a “hold” rating and set a $63.00 price objective on shares of East West Bancorp in a research report on Friday, October 20th. Finally, BidaskClub lowered East West Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. East West Bancorp currently has a consensus rating of “Hold” and an average target price of $64.60.
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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