Legal & General Group Plc raised its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 12.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,699 shares of the financial services provider’s stock after buying an additional 30,722 shares during the quarter. Legal & General Group Plc owned 0.19% of East West Bancorp worth $16,123,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. ETRADE Capital Management LLC acquired a new position in East West Bancorp in the 3rd quarter valued at $268,000. Teachers Retirement System of The State of Kentucky grew its holdings in East West Bancorp by 4.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 58,778 shares of the financial services provider’s stock valued at $3,514,000 after buying an additional 2,500 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its holdings in East West Bancorp by 25.0% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 5,046 shares of the financial services provider’s stock valued at $302,000 after buying an additional 1,008 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in East West Bancorp by 6.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,924 shares of the financial services provider’s stock valued at $1,490,000 after buying an additional 1,408 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in East West Bancorp by 40,821.7% in the 3rd quarter. Assetmark Inc. now owns 130,131 shares of the financial services provider’s stock valued at $7,779,000 after buying an additional 129,813 shares in the last quarter. 91.41% of the stock is currently owned by hedge funds and other institutional investors.

Shares of East West Bancorp, Inc. (NASDAQ EWBC) opened at $60.35 on Monday. The firm has a market capitalization of $8,723.17, a price-to-earnings ratio of 18.07, a PEG ratio of 1.64 and a beta of 1.46. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.13. East West Bancorp, Inc. has a 1 year low of $48.07 and a 1 year high of $63.92.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The firm had revenue of $348.97 million during the quarter, compared to the consensus estimate of $349.28 million. During the same period in the prior year, the company posted $0.76 EPS. The company’s revenue was up 15.0% compared to the same quarter last year. sell-side analysts anticipate that East West Bancorp, Inc. will post 3.49 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.33%. East West Bancorp’s dividend payout ratio is currently 21.98%.

In related news, Director Jack C. Liu sold 2,200 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $58.07, for a total transaction of $127,754.00. Following the completion of the sale, the director now directly owns 23,599 shares in the company, valued at approximately $1,370,393.93. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Rudolph Estrada sold 1,916 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $55.97, for a total value of $107,238.52. Following the sale, the director now owns 15,475 shares of the company’s stock, valued at $866,135.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,116 shares of company stock valued at $844,993. 0.88% of the stock is owned by corporate insiders.

A number of research analysts have commented on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $57.00 price objective on shares of East West Bancorp in a report on Tuesday, September 26th. BMO Capital Markets reaffirmed a “hold” rating and issued a $61.00 price objective on shares of East West Bancorp in a report on Thursday, October 5th. Zacks Investment Research raised East West Bancorp from a “sell” rating to a “hold” rating in a report on Friday, October 6th. DA Davidson reiterated a “hold” rating and set a $63.00 target price on shares of East West Bancorp in a research report on Friday, October 20th. Finally, Piper Jaffray Companies set a $74.00 target price on East West Bancorp and gave the company a “buy” rating in a research report on Saturday, October 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $64.90.

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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.

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

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