Jennison Associates LLC grew its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 9.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,621,038 shares of the financial services provider’s stock after purchasing an additional 216,414 shares during the period. Jennison Associates LLC owned approximately 1.81% of East West Bancorp worth $156,686,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its holdings in shares of East West Bancorp by 1.0% during 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 during the last quarter. Cadence Capital Management LLC lifted its holdings in shares of East West Bancorp by 1.0% during the second quarter. Cadence Capital Management LLC now owns 5,859 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 60 shares during the last quarter. Wright Investors Service Inc. lifted its holdings in shares of East West Bancorp by 0.6% during the second quarter. Wright Investors Service Inc. now owns 14,145 shares of the financial services provider’s stock valued at $829,000 after purchasing an additional 90 shares during the last quarter. Utah Retirement Systems lifted its holdings in shares of East West Bancorp by 0.4% during the second quarter. Utah Retirement Systems now owns 26,294 shares of the financial services provider’s stock valued at $1,540,000 after purchasing an additional 100 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC lifted its holdings in shares of East West Bancorp by 1.3% during the second quarter. Quantitative Systematic Strategies LLC now owns 10,354 shares of the financial services provider’s stock valued at $606,000 after purchasing an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

In other East West Bancorp news, Director Herman Y. Li sold 10,000 shares of East West Bancorp stock in a transaction that occurred 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 owns 40,130 shares of the company’s stock, valued at approximately $2,447,930. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Rudolph Estrada sold 1,916 shares of East West Bancorp stock in a transaction that occurred on Monday, September 18th. The stock was 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 approximately $866,135.75. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of East West Bancorp from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub lowered shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Keefe, Bruyette & Woods restated 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 restated an “equal weight” rating and issued a $63.00 price objective (up from $61.00) on shares of East West Bancorp in a report on Wednesday, October 4th. Finally, Raymond James Financial, Inc. upgraded shares of East West Bancorp from an “underperform” rating to a “market perform” rating in a report on Thursday, October 5th. 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 stock. The company has a consensus rating of “Hold” and an average target price of $64.60.

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East West Bancorp, Inc. (EWBC) traded down $0.11 during trading hours on Friday, reaching $56.66. 473,412 shares of the company’s stock were exchanged, compared to its average volume of 1,052,321. 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 fifty-two week low of $43.09 and a fifty-two week high of $61.90. The company has a market cap of $8,205.70, a P/E ratio of 17.00, a PEG ratio of 1.55 and a beta of 1.47.

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 analysts’ consensus estimates 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 business had revenue of $348.97 million during the quarter, compared to the consensus estimate of $349.28 million. During the same quarter in the previous year, the firm posted $0.76 EPS. The firm’s revenue was up 15.0% on a year-over-year basis. equities analysts predict that East West Bancorp, Inc. will post 3.49 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Tuesday, October 31st. East West Bancorp’s dividend payout ratio (DPR) is presently 21.98%.

East West Bancorp 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.

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

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