Wellington Shields Capital Management LLC Boosts Holdings in East West Bancorp, Inc. (EWBC)

Wellington Shields Capital Management LLC raised its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 4.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 78,325 shares of the financial services provider’s stock after buying an additional 3,475 shares during the quarter. East West Bancorp comprises approximately 0.7% of Wellington Shields Capital Management LLC’s holdings, making the stock its 24th largest position. Wellington Shields Capital Management LLC’s holdings in East West Bancorp were worth $4,765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of EWBC. Toronto Dominion Bank purchased a new stake in East West Bancorp during the second quarter valued at about $104,000. National Pension Service purchased a new stake in East West Bancorp during the fourth quarter valued at about $116,000. Contravisory Investment Management Inc. purchased a new stake in East West Bancorp during the fourth quarter valued at about $129,000. Field & Main Bank purchased a new stake in East West Bancorp during the fourth quarter valued at about $146,000. Finally, Americafirst Capital Management LLC purchased a new stake in East West Bancorp during the second quarter valued at about $149,000. 91.39% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp, Inc. (NASDAQ:EWBC) opened at $65.20 on Thursday. The company has a market capitalization of $9,255.08, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.38 and a beta of 1.45. East West Bancorp, Inc. has a one year low of $48.07 and a one year high of $69.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.00 and a current ratio of 1.00.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.87 EPS for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.04). The company had revenue of $365.06 million for the quarter, compared to analyst estimates of $359.43 million. East West Bancorp had a return on equity of 13.56% and a net margin of 31.93%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 EPS. sell-side analysts expect that East West Bancorp, Inc. will post 4.42 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 5th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, February 2nd. East West Bancorp’s dividend payout ratio (DPR) is 23.12%.

In related news, Director Jack C. Liu sold 2,200 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $58.07, for a total value of $127,754.00. Following the transaction, the director now owns 23,599 shares in the company, valued at $1,370,393.93. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Iris S. Chan sold 2,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $66.69, for a total value of $133,380.00. Following the completion of the transaction, the director now owns 20,301 shares in the company, valued at approximately $1,353,873.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,200 shares of company stock worth $704,434. Insiders own 0.88% of the company’s stock.

A number of research firms have issued reports on EWBC. Morgan Stanley boosted their price target on East West Bancorp from $61.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 13th. Wells Fargo & Co restated an “outperform” rating and set a $72.00 price objective (up previously from $65.00) on shares of East West Bancorp in a research note on Tuesday, January 9th. BidaskClub cut East West Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Barclays boosted their price objective on East West Bancorp from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Piper Jaffray Companies restated a “buy” rating and set a $79.00 price objective on shares of East West Bancorp in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $69.50.

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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.

Want to see what other hedge funds are holding EWBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for East West Bancorp, Inc. (NASDAQ:EWBC).

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

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