Fmr LLC Acquires 136,528 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Fmr LLC grew its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 1.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,882,803 shares of the financial services provider’s stock after acquiring an additional 136,528 shares during the period. Fmr LLC owned about 5.69% of East West Bancorp worth $652,223,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of EWBC. Jupiter Asset Management Ltd. acquired a new stake in shares of East West Bancorp during the second quarter worth $59,460,000. Millennium Management LLC raised its position in shares of East West Bancorp by 152.1% in the 2nd quarter. Millennium Management LLC now owns 374,213 shares of the financial services provider’s stock worth $27,404,000 after acquiring an additional 225,799 shares in the last quarter. Miller Howard Investments Inc. NY lifted its stake in shares of East West Bancorp by 30.6% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 649,708 shares of the financial services provider’s stock valued at $47,578,000 after purchasing an additional 152,334 shares during the period. Westfield Capital Management Co. LP boosted its position in shares of East West Bancorp by 39.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 520,656 shares of the financial services provider’s stock valued at $43,079,000 after purchasing an additional 148,530 shares in the last quarter. Finally, M&G Plc acquired a new stake in East West Bancorp during the second quarter worth approximately $9,078,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

Wall Street Analyst Weigh In

EWBC has been the topic of a number of recent research reports. Compass Point raised their price objective on shares of East West Bancorp from $93.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Citigroup raised their price target on shares of East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Barclays boosted their price objective on East West Bancorp from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Morgan Stanley raised their target price on East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Wedbush upped their price target on East West Bancorp from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, East West Bancorp currently has an average rating of “Moderate Buy” and an average target price of $102.25.

East West Bancorp Stock Up 0.2 %

EWBC opened at $110.05 on Friday. The firm has a market capitalization of $15.26 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 3.23 and a beta of 1.27. East West Bancorp, Inc. has a one year low of $60.34 and a one year high of $113.95. The company has a fifty day moving average price of $94.72 and a 200-day moving average price of $83.41. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.92 and a quick ratio of 0.92.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $641.80 million. During the same quarter last year, the business posted $2.02 earnings per share. Equities research analysts expect that East West Bancorp, Inc. will post 8.37 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.00%. The ex-dividend date was Monday, November 4th. East West Bancorp’s dividend payout ratio is presently 27.78%.

Insider Buying and Selling at East West Bancorp

In other news, Director Rudolph Estrada sold 469 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total value of $45,980.76. Following the completion of the sale, the director now owns 17,750 shares of the company’s stock, valued at approximately $1,740,210. The trade was a 2.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Irene H. Oh sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $98.50, for a total value of $985,000.00. Following the transaction, the insider now owns 117,193 shares in the company, valued at approximately $11,543,510.50. The trade was a 7.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,969 shares of company stock worth $2,458,276 over the last three months. Company insiders own 1.04% of the company’s stock.

East West Bancorp Company Profile

East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.