US Bancorp DE Buys 141 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

US Bancorp DE grew its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 7.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,949 shares of the financial services provider’s stock after acquiring an additional 141 shares during the quarter. US Bancorp DE’s holdings in East West Bancorp were worth $161,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Capital Research Global Investors bought a new position in East West Bancorp in the first quarter valued at approximately $338,142,000. Jupiter Asset Management Ltd. acquired a new stake in shares of East West Bancorp in the 2nd quarter valued at $59,460,000. Millennium Management LLC increased its stake 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 valued at $27,404,000 after purchasing an additional 225,799 shares during the last quarter. Miller Howard Investments Inc. NY increased 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 last quarter. Finally, M&G Plc acquired a new position in shares of East West Bancorp during the 2nd quarter worth $9,078,000. 89.53% of the stock is owned by institutional investors and hedge funds.

East West Bancorp Stock Down 0.3 %

Shares of EWBC opened at $103.57 on Friday. The stock’s 50-day moving average price is $88.75 and its two-hundred day moving average price is $81.10. East West Bancorp, Inc. has a 12 month low of $60.26 and a 12 month high of $107.68. The company has a market capitalization of $14.36 billion, a PE ratio of 13.08, a PEG ratio of 3.11 and a beta of 1.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $641.80 million. During the same period last year, the company earned $2.02 earnings per share. On average, analysts anticipate that East West Bancorp, Inc. will post 8.34 EPS for the current year.

East West Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Monday, November 4th. East West Bancorp’s dividend payout ratio is currently 27.78%.

Analyst Ratings Changes

A number of research firms have issued reports on EWBC. Wedbush lifted their target price on East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Stephens lifted their price target on shares of East West Bancorp from $91.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Wells Fargo & Company increased their price objective on shares of East West Bancorp from $97.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Compass Point boosted their target price on shares of East West Bancorp from $93.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Barclays increased their price target on East West Bancorp from $108.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $102.25.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Rudolph Estrada sold 469 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total transaction of $45,980.76. Following the transaction, the director now directly owns 17,750 shares in the company, valued at approximately $1,740,210. This represents a 2.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of East West Bancorp stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the completion of the sale, the insider now owns 45,403 shares of the company’s stock, valued at $4,840,413.83. This represents a 20.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,969 shares of company stock worth $2,625,276 over the last three months. 1.04% of the stock is owned by company insiders.

About East West Bancorp

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.