Noesis Capital Mangement Corp acquired a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 139,574 shares of the financial services provider’s stock, valued at approximately $8,490,000. East West Bancorp comprises approximately 3.0% of Noesis Capital Mangement Corp’s investment portfolio, making the stock its 12th largest holding.
A number of other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in East West Bancorp by 1.5% in the 4th quarter. BlackRock Inc. now owns 13,767,215 shares of the financial services provider’s stock worth $837,459,000 after buying an additional 199,886 shares in the last quarter. Boston Partners grew its stake in East West Bancorp by 3.2% in the 4th quarter. Boston Partners now owns 6,828,822 shares of the financial services provider’s stock worth $415,397,000 after buying an additional 209,514 shares in the last quarter. Macquarie Group Ltd. grew its stake in East West Bancorp by 4.2% in the 3rd quarter. Macquarie Group Ltd. now owns 4,440,696 shares of the financial services provider’s stock worth $265,465,000 after buying an additional 178,496 shares in the last quarter. JPMorgan Chase & Co. grew its stake in East West Bancorp by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,395,572 shares of the financial services provider’s stock worth $260,261,000 after buying an additional 62,345 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in East West Bancorp by 11.3% in the 4th quarter. Jennison Associates LLC now owns 2,916,015 shares of the financial services provider’s stock worth $177,381,000 after buying an additional 294,977 shares in the last quarter. 91.66% of the stock is owned by institutional investors and hedge funds.
In other news, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $68.50, for a total value of $137,000.00. Following the completion of the sale, the director now owns 21,599 shares of the company’s stock, valued at approximately $1,479,531.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Irene H. Oh sold 5,000 shares of the company’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $68.29, for a total transaction of $341,450.00. Following the completion of the sale, the chief financial officer now directly owns 38,021 shares of the company’s stock, valued at approximately $2,596,454.09. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock valued at $918,130 in the last ninety days. 0.88% of the stock is owned by corporate insiders.
Shares of East West Bancorp, Inc. (NASDAQ EWBC) traded down $0.16 during trading on Wednesday, hitting $66.53. 28,078 shares of the stock were exchanged, compared to its average volume of 868,212. East West Bancorp, Inc. has a 12 month low of $48.07 and a 12 month high of $69.25. The stock has a market cap of $9,743.71, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.46 and a beta of 1.40. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.04). East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. The business had revenue of $365.06 million during the quarter, compared to analysts’ expectations of $359.43 million. During the same period last year, the company posted $0.76 EPS. East West Bancorp’s revenue for the quarter was up 13.5% on a year-over-year basis. analysts predict that East West Bancorp, Inc. will post 4.4 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were paid a $0.20 dividend. The ex-dividend date was Friday, February 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.20%. East West Bancorp’s dividend payout ratio (DPR) is 23.12%.
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East West Bancorp Company 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.
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