Barclays PLC boosted its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 103.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 486,548 shares of the financial services provider’s stock after purchasing an additional 247,004 shares during the period. Barclays PLC owned approximately 0.34% of East West Bancorp worth $37,727,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EWBC. Capital International Investors grew its holdings in East West Bancorp by 13.5% during the 2nd quarter. Capital International Investors now owns 12,033,194 shares of the financial services provider’s stock valued at $862,692,000 after purchasing an additional 1,434,623 shares in the last quarter. FMR LLC boosted its stake in East West Bancorp by 32.4% during the 2nd quarter. FMR LLC now owns 2,987,180 shares of the financial services provider’s stock valued at $214,151,000 after acquiring an additional 731,803 shares during the last quarter. Boston Partners boosted its stake in East West Bancorp by 15.0% during the 3rd quarter. Boston Partners now owns 4,919,427 shares of the financial services provider’s stock valued at $381,492,000 after acquiring an additional 641,131 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in East West Bancorp by 17.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,969,926 shares of the financial services provider’s stock valued at $141,224,000 after acquiring an additional 287,107 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its stake in East West Bancorp by 207.4% during the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 365,682 shares of the financial services provider’s stock valued at $26,216,000 after acquiring an additional 246,710 shares during the last quarter. 88.56% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have commented on EWBC shares. Wells Fargo & Company upgraded shares of East West Bancorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $80.00 to $95.00 in a research note on Thursday, October 7th. Morgan Stanley increased their price objective on shares of East West Bancorp from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, December 6th. Zacks Investment Research upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research report on Thursday, September 30th. Finally, Wedbush raised their price target on shares of East West Bancorp from $91.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, October 22nd. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, East West Bancorp presently has a consensus rating of “Buy” and a consensus price target of $92.60.
East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Wednesday, October 20th. The financial services provider reported $1.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.06. The firm had revenue of $468.82 million for the quarter, compared to the consensus estimate of $459.19 million. East West Bancorp had a net margin of 44.01% and a return on equity of 15.04%. East West Bancorp’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period last year, the firm posted $1.12 EPS. As a group, equities analysts anticipate that East West Bancorp, Inc. will post 6.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 15th. Investors of record on Monday, November 1st were given a $0.33 dividend. The ex-dividend date of this dividend was Friday, October 29th. This represents a $1.32 annualized dividend and a yield of 1.46%. East West Bancorp’s dividend payout ratio is presently 23.04%.
East West Bancorp Profile
East West Bancorp, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following business segments: Consumer and Business Banking, Commercial Banking, and Other. The Consumer and Business Banking segment provides financial service products and services to consumer and commercial customers through the company’s branch network in the U.S.
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