Geode Capital Management LLC boosted its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,608,132 shares of the financial services provider's stock after buying an additional 122,738 shares during the period. Geode Capital Management LLC owned 1.88% of East West Bancorp worth $216,438,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. Vestcor Inc raised its position in shares of East West Bancorp by 6.9% in the third quarter. Vestcor Inc now owns 11,383 shares of the financial services provider's stock valued at $942,000 after buying an additional 737 shares during the last quarter. M&T Bank Corp raised its holdings in East West Bancorp by 3.8% in the 3rd quarter. M&T Bank Corp now owns 29,077 shares of the financial services provider's stock valued at $2,406,000 after acquiring an additional 1,068 shares during the last quarter. Barclays PLC raised its holdings in East West Bancorp by 12.2% in the 3rd quarter. Barclays PLC now owns 145,310 shares of the financial services provider's stock valued at $12,023,000 after acquiring an additional 15,829 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in East West Bancorp by 25.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 11,327 shares of the financial services provider's stock worth $937,000 after purchasing an additional 2,328 shares in the last quarter. Finally, National Bank of Canada FI acquired a new position in shares of East West Bancorp during the 3rd quarter worth approximately $5,978,000. Institutional investors and hedge funds own 89.53% of the company's stock.
In other news, Director Rudolph Estrada sold 469 shares of East West Bancorp stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total value of $45,980.76. Following the completion of the transaction, the director now owns 17,750 shares in the company, valued at approximately $1,740,210. This trade represents a 2.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the sale, the insider now owns 45,403 shares in the company, valued at $4,840,413.83. The trade was a 20.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,969 shares of company stock worth $2,458,276 over the last three months. Company insiders own 1.04% of the company's stock.
NASDAQ:EWBC opened at $101.58 on Friday. East West Bancorp, Inc. has a fifty-two week low of $67.27 and a fifty-two week high of $113.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92. The company has a 50 day moving average price of $99.97 and a 200 day moving average price of $85.65. The stock has a market capitalization of $14.08 billion, a P/E ratio of 12.83, a PEG ratio of 3.05 and a beta of 1.28.
East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $641.80 million. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. During the same period last year, the business posted $2.02 earnings per share. Equities research analysts forecast that East West Bancorp, Inc. will post 8.39 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.20 dividend on an annualized basis and a yield of 2.17%. East West Bancorp's dividend payout ratio (DPR) is presently 27.78%.
EWBC has been the topic of a number of analyst reports. StockNews.com upgraded East West Bancorp from a "sell" rating to a "hold" rating in a research report on Tuesday, October 29th. Compass Point lifted their price target on East West Bancorp from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Wells Fargo & Company upped their price objective on shares of East West Bancorp from $105.00 to $120.00 and gave the company an "overweight" rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods lifted their target price on shares of East West Bancorp from $96.00 to $128.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Finally, Citigroup boosted their target price on shares of East West Bancorp from $103.00 to $109.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $109.17.
Check Out Our Latest Stock Analysis on EWBC
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.
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