Qube Research & Technologies Ltd Buys New Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Qube Research & Technologies Ltd bought a new stake in East West Bancorp, Inc. (NASDAQ:EWBC) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,683 shares of the financial services provider’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC boosted its position in shares of East West Bancorp by 44.3% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 677 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 208 shares during the period. Signaturefd LLC lifted its position in East West Bancorp by 15.4% during the 1st quarter. Signaturefd LLC now owns 1,637 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 218 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in East West Bancorp by 1.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,864 shares of the financial services provider’s stock worth $1,337,000 after acquiring an additional 272 shares during the period. Burney Co. lifted its position in East West Bancorp by 4.9% during the 1st quarter. Burney Co. now owns 5,850 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 275 shares during the period. Finally, Advantage Investment Management LLC lifted its position in East West Bancorp by 64.1% during the 2nd quarter. Advantage Investment Management LLC now owns 717 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 280 shares during the period. 88.10% of the stock is owned by hedge funds and other institutional investors.

EWBC opened at $40.26 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day simple moving average of $44.65 and a 200-day simple moving average of $48.31. The stock has a market capitalization of $5.81 billion, a P/E ratio of 8.64, a P/E/G ratio of 0.87 and a beta of 1.62. East West Bancorp, Inc. has a 12 month low of $38.24 and a 12 month high of $65.37.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.24 EPS for the quarter, meeting the consensus estimate of $1.24. The business had revenue of $420.09 million during the quarter, compared to analysts’ expectations of $416.35 million. East West Bancorp had a return on equity of 15.42% and a net margin of 32.92%. During the same period last year, the firm earned $1.18 EPS. Research analysts anticipate that East West Bancorp, Inc. will post 4.89 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a $0.275 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.10 annualized dividend and a dividend yield of 2.73%. East West Bancorp’s dividend payout ratio is currently 23.61%.

A number of analysts have weighed in on EWBC shares. BMO Capital Markets cut East West Bancorp from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $51.00 to $44.00 in a research report on Monday. Zacks Investment Research raised East West Bancorp from a “sell” rating to a “hold” rating and set a $48.00 price objective for the company in a research report on Friday, June 28th. Raymond James cut East West Bancorp from a “market perform” rating to an “underperform” rating in a research report on Monday, July 8th. ValuEngine cut East West Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, August 2nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $50.00 price objective (down from $57.00) on shares of East West Bancorp in a research report on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $57.33.

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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

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

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