Monarch Partners Asset Management LLC Has $2.56 Million Stake in East West Bancorp, Inc. (NASDAQ:EWBC)
Monarch Partners Asset Management LLC lowered its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 63.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,666 shares of the financial services provider’s stock after selling 75,400 shares during the period. Monarch Partners Asset Management LLC’s holdings in East West Bancorp were worth $2,558,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new stake in East West Bancorp during the fourth quarter valued at about $221,000. CENTRAL TRUST Co purchased a new stake in East West Bancorp during the first quarter valued at about $177,000. Capstone Asset Management Co. raised its stake in East West Bancorp by 5.0% in the first quarter. Capstone Asset Management Co. now owns 10,804 shares of the financial services provider’s stock valued at $558,000 after buying an additional 510 shares in the last quarter. Parametrica Management Ltd purchased a new stake in East West Bancorp during the first quarter valued at about $351,000. Finally, Louisiana State Employees Retirement System raised its stake in East West Bancorp by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 36,400 shares of the financial services provider’s stock valued at $1,879,000 after buying an additional 800 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.
Shares of East West Bancorp, Inc. (EWBC) opened at 55.01 on Friday. East West Bancorp, Inc. has a 12 month low of $34.02 and a 12 month high of $60.42. The firm has a 50-day moving average of $57.72 and a 200-day moving average of $54.94. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of 15.71 and a beta of 1.41.
East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.81. The business had revenue of $337.49 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $0.71 EPS. On average, analysts anticipate that East West Bancorp, Inc. will post $3.74 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, July 28th. East West Bancorp’s payout ratio is 22.92%.
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EWBC has been the topic of several analyst reports. Piper Jaffray Companies reduced their price target on shares of East West Bancorp to $62.00 and set an “overweight” rating on the stock in a research report on Monday, April 17th. Zacks Investment Research upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, April 20th. Barclays PLC reiterated an “overweight” rating and set a $63.00 price target (up previously from $61.00) on shares of East West Bancorp in a research report on Sunday, April 23rd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $57.00 price target on shares of East West Bancorp in a research report on Monday, May 22nd. Finally, Morgan Stanley increased their price target on shares of East West Bancorp from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 6th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $62.88.
In other news, Director Jack C. Liu sold 1,123 shares of the stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $59.00, for a total value of $66,257.00. Following the transaction, the director now owns 23,669 shares of the company’s stock, valued at approximately $1,396,471. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is owned by corporate insiders.
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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