First Trust Advisors LP Trims Stake in East West Bancorp, Inc. (NASDAQ:EWBC)

First Trust Advisors LP lowered its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 15.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 331,720 shares of the financial services provider’s stock after selling 59,443 shares during the quarter. First Trust Advisors LP owned approximately 0.23% of East West Bancorp worth $16,155,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Parallel Advisors LLC raised its holdings in East West Bancorp by 768.1% in the 3rd quarter. Parallel Advisors LLC now owns 816 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 722 shares during the last quarter. Squar Milner Financial Services LLC raised its holdings in East West Bancorp by 27.2% in the 4th quarter. Squar Milner Financial Services LLC now owns 1,094 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 234 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in East West Bancorp by 35.0% in the 3rd quarter. AdvisorNet Financial Inc now owns 1,927 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 500 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in East West Bancorp by 120.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,118 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 1,158 shares during the last quarter. Finally, Quest Capital Management Inc. ADV acquired a new position in East West Bancorp in the 3rd quarter valued at $99,000. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Rudolph Estrada sold 2,626 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $47.61, for a total value of $125,023.86. Following the completion of the sale, the director now directly owns 15,977 shares in the company, valued at approximately $760,664.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Herman Y. Li sold 5,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $48.75, for a total value of $243,750.00. Following the completion of the sale, the director now owns 39,261 shares of the company’s stock, valued at $1,913,973.75. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Several research analysts have weighed in on EWBC shares. Morgan Stanley boosted their price target on East West Bancorp from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Wells Fargo & Co cut their price target on East West Bancorp from $60.00 to $57.00 and set an “outperform” rating for the company in a report on Friday, October 18th. ValuEngine upgraded East West Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Wedbush cut their price target on East West Bancorp from $55.00 to $51.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Finally, BidaskClub downgraded East West Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $51.57.

EWBC stock opened at $48.43 on Friday. The company has a market cap of $7.03 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 1.00 and a beta of 1.70. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $48.02 and a 200-day simple moving average of $45.03. East West Bancorp, Inc. has a 52 week low of $37.69 and a 52 week high of $56.09.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.12. The business had revenue of $431.20 million during the quarter, compared to the consensus estimate of $413.66 million. East West Bancorp had a return on equity of 14.73% and a net margin of 32.22%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.18 EPS. As a group, analysts expect that East West Bancorp, Inc. will post 4.74 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.27%. East West Bancorp’s payout ratio is 22.73%.

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 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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