East West Bancorp, Inc. (EWBC) Shares Sold by American Century Companies Inc.
American Century Companies Inc. lowered its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 72.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 285,326 shares of the financial services provider’s stock after selling 750,035 shares during the period. American Century Companies Inc. owned approximately 0.20% of East West Bancorp worth $17,057,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in EWBC. Toronto Dominion Bank purchased a new stake in shares of East West Bancorp in the second quarter valued at $104,000. Strs Ohio purchased a new stake in shares of East West Bancorp in the second quarter valued at $110,000. San Francisco Sentry Investment Group CA purchased a new stake in shares of East West Bancorp in the second quarter valued at $138,000. D.A. Davidson & CO. lifted its holdings in shares of East West Bancorp by 1.0% in the second 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 stake in shares of East West Bancorp in the second quarter valued at $149,000. Institutional investors own 90.58% of the company’s stock.
In other East West Bancorp news, Director Herman Y. Li sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 40,130 shares in the company, valued at $2,447,930. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rudolph Estrada sold 1,916 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $55.97, for a total transaction 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. Corporate insiders own 0.88% of the company’s stock.
A number of equities analysts have recently weighed in on EWBC shares. Piper Jaffray Companies set a $74.00 price target on shares of East West Bancorp and gave the stock a “buy” rating in a research note on Saturday, October 21st. Zacks Investment Research raised shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Tuesday, October 24th. SunTrust Banks, Inc. 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. DA Davidson reaffirmed a “hold” rating and issued a $63.00 price target on shares of East West Bancorp in a research note on Friday, October 20th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $66.00 price target (down from $68.00) on shares of East West Bancorp in a research note on Friday, October 20th. Two research 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’s stock. East West Bancorp currently has a consensus rating of “Hold” and a consensus price target of $64.60.
East West Bancorp, Inc. (NASDAQ:EWBC) opened at $57.22 on Friday. 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 company has a market cap of $8,296.76, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.56 and a beta of 1.47. East West Bancorp, Inc. has a 1 year low of $45.52 and a 1 year high of $61.90.
East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.03. The firm had revenue of $348.97 million for the quarter, compared to the consensus estimate of $349.28 million. East West Bancorp had a net margin of 34.75% and a return on equity of 13.51%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 earnings per share. equities 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. Shareholders of record on Wednesday, November 1st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.40%. The ex-dividend date was Tuesday, October 31st. East West Bancorp’s payout ratio is 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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