Mesirow Financial Investment Management Equity Management Acquires 4,640 Shares of East West Bancorp, Inc. (EWBC)

Mesirow Financial Investment Management Equity Management raised its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 24.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,860 shares of the financial services provider’s stock after acquiring an additional 4,640 shares during the period. Mesirow Financial Investment Management Equity Management’s holdings in East West Bancorp were worth $1,426,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in East West Bancorp by 156.1% in the 2nd quarter. Royal Bank of Canada now owns 72,735 shares of the financial services provider’s stock valued at $4,260,000 after acquiring an additional 44,336 shares during the last quarter. Dai Ichi Life Insurance Company Ltd raised its holdings in East West Bancorp by 113.8% in the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 96,514 shares of the financial services provider’s stock valued at $5,654,000 after acquiring an additional 51,378 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in East West Bancorp by 352.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,516 shares of the financial services provider’s stock valued at $1,378,000 after acquiring an additional 18,321 shares during the last quarter. Principal Financial Group Inc. raised its holdings in East West Bancorp by 128.7% in the 2nd quarter. Principal Financial Group Inc. now owns 2,951,316 shares of the financial services provider’s stock valued at $172,888,000 after acquiring an additional 1,660,844 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in East West Bancorp by 4.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 52,762 shares of the financial services provider’s stock valued at $3,091,000 after acquiring an additional 2,275 shares during the last quarter. Institutional investors own 90.67% of the company’s stock.

EWBC has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Morgan Stanley reissued an “equal weight” rating and issued a $60.00 price target (up previously from $59.00) on shares of East West Bancorp in a research note on Thursday, July 6th. Deutsche Bank AG cut shares of East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 price target for the company. in a research note on Friday, July 14th. BMO Capital Markets cut shares of East West Bancorp from an “outperform” rating to a “market perform” rating and set a $63.00 price target for the company. in a research note on Friday, July 7th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and issued a $65.00 price target on shares of East West Bancorp in a research note on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $64.60.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. The business had revenue of $348.97 million during the quarter, compared to analyst estimates of $349.28 million. East West Bancorp had a net margin of 34.75% and a return on equity of 13.51%. The company’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.76 earnings per share.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. East West Bancorp’s payout ratio is 21.98%.

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In related news, Director Rudolph Estrada sold 1,916 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $55.97, for a total value of $107,238.52. Following the completion of the sale, the director now directly owns 15,475 shares in the company, valued at $866,135.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Herman Y. Li sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $61.00, for a total transaction of $610,000.00. Following the completion of the sale, the director now owns 40,130 shares of the company’s stock, valued at $2,447,930. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

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.

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

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