East West Bancorp, Inc. (EWBC) Position Lifted by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 12.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,130 shares of the financial services provider’s stock after purchasing an additional 873 shares during the period. Advisors Asset Management Inc.’s holdings in East West Bancorp were worth $486,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of EWBC. Principal Financial Group Inc. increased its position in shares of East West Bancorp by 128.7% in the second quarter. Principal Financial Group Inc. now owns 2,951,316 shares of the financial services provider’s stock worth $172,888,000 after purchasing an additional 1,660,844 shares during the period. BlackRock Inc. increased its position in shares of East West Bancorp by 11.5% in the second quarter. BlackRock Inc. now owns 13,329,464 shares of the financial services provider’s stock worth $780,841,000 after purchasing an additional 1,373,528 shares during the period. William Blair Investment Management LLC increased its position in shares of East West Bancorp by 75.9% in the second quarter. William Blair Investment Management LLC now owns 2,646,584 shares of the financial services provider’s stock worth $155,037,000 after purchasing an additional 1,142,250 shares during the period. State Street Corp grew its position in East West Bancorp by 16.5% in the second quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock valued at $415,902,000 after acquiring an additional 1,004,860 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in East West Bancorp by 7.5% in the second quarter. Vanguard Group Inc. now owns 12,734,214 shares of the financial services provider’s stock valued at $745,971,000 after acquiring an additional 893,764 shares during the last quarter. Institutional investors own 91.41% of the company’s stock.

In other news, Director Herman Y. Li sold 10,000 shares of East West Bancorp stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $61.00, for a total transaction of $610,000.00. Following the sale, the director now directly owns 40,130 shares of the company’s stock, valued at $2,447,930. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack C. Liu sold 2,200 shares of East West Bancorp stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $58.07, for a total value of $127,754.00. Following the sale, the director now directly owns 23,599 shares in the company, valued at $1,370,393.93. The disclosure for this sale can be found here. Insiders have sold 14,116 shares of company stock worth $844,993 over the last three months. Insiders own 0.88% of the company’s stock.

A number of research analysts have issued reports on EWBC shares. Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Thursday, September 21st. SunTrust Banks reiterated a “buy” rating and issued a $65.00 target price on shares of East West Bancorp in a research report on Thursday, October 12th. Barclays set a $66.00 target price on East West Bancorp and gave the company a “buy” rating in a research report on Friday, October 20th. Piper Jaffray Companies set a $74.00 target price on East West Bancorp and gave the company a “buy” rating in a research report on Saturday, October 21st. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $63.00 target price (up previously from $61.00) on shares of East West Bancorp in a research report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $64.90.

East West Bancorp, Inc. (NASDAQ EWBC) opened at $62.18 on Tuesday. East West Bancorp, Inc. has a 12-month low of $48.07 and a 12-month high of $63.92. The stock has a market capitalization of $8,864.82, a PE ratio of 18.36, a price-to-earnings-growth ratio of 1.67 and a beta of 1.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.99 and a quick ratio of 0.99.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.03. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The firm had revenue of $348.97 million for the quarter, compared to analyst estimates of $349.28 million. During the same period last year, the firm posted $0.76 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. equities research analysts forecast that East West Bancorp, Inc. will post 3.49 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Tuesday, October 31st. East West Bancorp’s payout ratio is 21.98%.

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About East West Bancorp

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.

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

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