Sarasin & Partners LLP Maintains Position in East West Bancorp, Inc. (EWBC)
Sarasin & Partners LLP maintained its stake in East West Bancorp, Inc. (NASDAQ:EWBC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,890 shares of the financial services provider’s stock at the end of the second quarter. Sarasin & Partners LLP’s holdings in East West Bancorp were worth $4,036,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in EWBC. Strs Ohio acquired a new position in East West Bancorp during the second quarter worth about $110,000. Washington Trust Bank raised its position in East West Bancorp by 3.7% in the first quarter. Washington Trust Bank now owns 2,380 shares of the financial services provider’s stock worth $123,000 after buying an additional 86 shares in the last quarter. IFP Advisors Inc raised its position in East West Bancorp by 126.0% in the second quarter. IFP Advisors Inc now owns 2,857 shares of the financial services provider’s stock worth $167,000 after buying an additional 1,593 shares in the last quarter. CENTRAL TRUST Co acquired a new position in East West Bancorp during the first quarter worth about $177,000. Finally, Eagle Global Advisors LLC acquired a new position in East West Bancorp during the second quarter worth about $222,000. Institutional investors own 92.16% of the company’s stock.
Shares of East West Bancorp, Inc. (NASDAQ:EWBC) opened at 56.32 on Tuesday. The company has a 50-day moving average of $57.73 and a 200 day moving average of $55.01. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 16.09 and a beta of 1.41. East West Bancorp, Inc. has a one year low of $34.07 and a one year high of $60.42.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate 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 return on equity of 13.31% and a net margin of 34.63%. During the same quarter in the prior year, the business posted $0.71 earnings per share. On average, equities analysts forecast that East West Bancorp, Inc. will post $3.74 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, July 28th. East West Bancorp’s payout ratio is 22.92%.
EWBC has been the subject of a number of recent research reports. Morgan Stanley reissued an “equal weight” rating and set a $60.00 price target (up from $59.00) on shares of East West Bancorp in a research report on Thursday, July 6th. Piper Jaffray Companies reduced their price target on shares of East West Bancorp to $62.00 and set an “overweight” rating for the company in a research report on Monday, April 17th. Deutsche Bank AG lowered shares of East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 price target for the company. in a research report on Friday, July 14th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $57.00 price target on shares of East West Bancorp in a research report on Friday, June 23rd. Finally, BidaskClub lowered shares of East West Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. East West Bancorp has a consensus rating of “Hold” and a consensus price target of $62.88.
In other East West Bancorp news, Director Jack C. Liu sold 1,123 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $59.00, for a total value of $66,257.00. Following the completion of the transaction, the director now owns 23,669 shares in the company, valued at $1,396,471. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.88% of the company’s stock.
East West Bancorp Company 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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