Tobam Acquires 274 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Tobam increased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 131.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 482 shares of the financial services provider’s stock after acquiring an additional 274 shares during the quarter. Tobam’s holdings in East West Bancorp were worth $40,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of EWBC. Capital Research Global Investors bought a new position in East West Bancorp during the first quarter worth about $338,142,000. Jupiter Asset Management Ltd. bought a new position in East West Bancorp during the second quarter worth about $59,460,000. Lord Abbett & CO. LLC increased its position in East West Bancorp by 112.5% during the first quarter. Lord Abbett & CO. LLC now owns 1,441,198 shares of the financial services provider’s stock worth $114,013,000 after acquiring an additional 762,958 shares during the period. Jennison Associates LLC increased its position in East West Bancorp by 82.2% during the first quarter. Jennison Associates LLC now owns 1,687,555 shares of the financial services provider’s stock worth $133,502,000 after acquiring an additional 761,347 shares during the period. Finally, Miller Howard Investments Inc. NY bought a new position in East West Bancorp in the 1st quarter valued at about $39,347,000. 89.53% of the stock is owned by institutional investors.

Insider Transactions at East West Bancorp

In other East West Bancorp news, EVP Gary Teo sold 3,450 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.73, for a total value of $302,668.50. Following the completion of the sale, the executive vice president now directly owns 15,875 shares in the company, valued at approximately $1,392,713.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other East West Bancorp news, EVP Gary Teo sold 3,450 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.73, for a total value of $302,668.50. Following the completion of the sale, the executive vice president now owns 15,875 shares of the company’s stock, valued at approximately $1,392,713.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Rudolph Estrada sold 1,896 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.77, for a total value of $166,411.92. Following the transaction, the director now directly owns 18,470 shares in the company, valued at $1,621,111.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,346 shares of company stock worth $1,108,160. Company insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

EWBC has been the topic of several recent analyst reports. Wells Fargo & Company raised their target price on shares of East West Bancorp from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Jefferies Financial Group decreased their target price on shares of East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Morgan Stanley raised their target price on shares of East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Stephens raised their target price on shares of East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Wedbush raised their target price on shares of East West Bancorp from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, East West Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $92.77.

East West Bancorp Stock Up 3.8 %

NASDAQ:EWBC opened at $88.33 on Friday. The firm’s 50 day simple moving average is $80.95 and its 200 day simple moving average is $77.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. East West Bancorp, Inc. has a one year low of $50.23 and a one year high of $89.75. The company has a market cap of $12.24 billion, a PE ratio of 11.32, a P/E/G ratio of 2.08 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.10. The firm had revenue of $638.00 million for the quarter, compared to the consensus estimate of $631.61 million. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.20 EPS. On average, research analysts anticipate that East West Bancorp, Inc. will post 8.2 earnings per share for the current year.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were given a $0.55 dividend. The ex-dividend date was Friday, August 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.49%. East West Bancorp’s dividend payout ratio (DPR) is currently 28.21%.

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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.