Comerica Bank Grows Stake in East West Bancorp, Inc. (EWBC)
Comerica Bank increased its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 117,137 shares of the financial services provider’s stock after purchasing an additional 1,670 shares during the period. Comerica Bank owned about 0.08% of East West Bancorp worth $7,068,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EWBC. D.A. Davidson & CO. boosted its stake in East West Bancorp by 1.0% in the 2nd quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock valued at $146,000 after buying an additional 26 shares in the last quarter. Cadence Capital Management LLC boosted its stake in East West Bancorp by 1.0% in the 2nd quarter. Cadence Capital Management LLC now owns 5,859 shares of the financial services provider’s stock valued at $343,000 after buying an additional 60 shares in the last quarter. Wright Investors Service Inc. boosted its stake in East West Bancorp by 0.6% in the 2nd quarter. Wright Investors Service Inc. now owns 14,145 shares of the financial services provider’s stock valued at $829,000 after buying an additional 90 shares in the last quarter. Utah Retirement Systems boosted its stake in East West Bancorp by 0.4% in the 2nd quarter. Utah Retirement Systems now owns 26,294 shares of the financial services provider’s stock valued at $1,540,000 after buying an additional 100 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC boosted its stake in East West Bancorp by 1.3% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 10,354 shares of the financial services provider’s stock valued at $606,000 after buying an additional 129 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.
EWBC has been the topic of several recent analyst reports. BidaskClub lowered East West Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered East West Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $64.60.
In other news, Director Rudolph Estrada sold 1,916 shares of the business’s stock in a transaction 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 owns 15,475 shares in the company, valued at $866,135.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Herman Y. Li sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $61.00, for a total value of $610,000.00. Following the sale, the director now owns 40,130 shares of the company’s stock, valued at approximately $2,447,930. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.
East West Bancorp, Inc. (NASDAQ EWBC) opened at $57.90 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $8,369.03, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.58 and a beta of 1.47. East West Bancorp, Inc. has a one year low of $45.80 and a one year high of $61.90.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data 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. The company had revenue of $348.97 million for the quarter, compared to analyst estimates of $349.28 million. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 earnings per share. sell-side analysts expect that East West Bancorp, Inc. will post 3.49 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Tuesday, October 31st. East West Bancorp’s dividend payout ratio is currently 21.98%.
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.
Receive News & Stock Ratings for East West Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp Inc. and related stocks with our FREE daily email newsletter.