East West Bancorp, Inc. (EWBC) Shares Sold by Stephens Investment Management Group LLC
Stephens Investment Management Group LLC decreased its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 13.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 264,590 shares of the financial services provider’s stock after selling 42,760 shares during the period. Stephens Investment Management Group LLC owned approximately 0.18% of East West Bancorp worth $15,500,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Strs Ohio bought a new stake in East West Bancorp in the 2nd quarter valued at $110,000. IFP Advisors Inc lifted its position in East West Bancorp by 126.0% in the 2nd quarter. IFP Advisors Inc now owns 2,857 shares of the financial services provider’s stock valued at $167,000 after acquiring an additional 1,593 shares in the last quarter. Keybank National Association OH bought a new stake in East West Bancorp in the 2nd quarter valued at $211,000. Eagle Global Advisors LLC bought a new stake in East West Bancorp in the 2nd quarter valued at $222,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in East West Bancorp in the 1st quarter valued at $230,000. 91.34% of the stock is owned by institutional investors.
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Shares of East West Bancorp, Inc. (EWBC) traded down 0.55% during midday trading on Wednesday, reaching $56.29. 46,522 shares of the company’s stock traded hands. East West Bancorp, Inc. has a 12 month low of $35.33 and a 12 month high of $60.42. The stock has a market cap of $8.13 billion, a P/E ratio of 16.08 and a beta of 1.43. The stock has a 50 day moving average of $56.01 and a 200-day moving average of $55.31.
East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. The firm had revenue of $337.49 million during the quarter, compared to analysts’ expectations of $329.32 million. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. During the same period last year, the company earned $0.71 earnings per share. On average, equities research analysts forecast that East West Bancorp, Inc. will post $3.74 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, July 28th. East West Bancorp’s dividend payout ratio is currently 22.92%.
Several equities research analysts recently commented on EWBC shares. Zacks Investment Research raised shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research report on Thursday, August 31st. Deutsche Bank AG cut shares of East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 price objective on the stock. in a research report on Friday, July 14th. BidaskClub cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Wedbush reaffirmed an “outperform” rating and issued a $68.00 price objective on shares of East West Bancorp in a research report on Thursday, July 20th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $57.00 price objective on shares of East West Bancorp in a research report on Friday, June 23rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $62.63.
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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