East West Bancorp, Inc. (NASDAQ:EWBC) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp increased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 3.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,004 shares of the financial services provider’s stock after purchasing an additional 304 shares during the quarter. Synovus Financial Corp’s holdings in East West Bancorp were worth $402,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of EWBC. Advantage Investment Management LLC grew its position in East West Bancorp by 64.1% in the second quarter. Advantage Investment Management LLC now owns 717 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 280 shares in the last quarter. QCI Asset Management Inc. NY acquired a new stake in shares of East West Bancorp during the second quarter worth approximately $37,000. FTB Advisors Inc. acquired a new stake in shares of East West Bancorp during the second quarter worth approximately $44,000. Meeder Asset Management Inc. grew its position in shares of East West Bancorp by 1,042.9% during the second quarter. Meeder Asset Management Inc. now owns 960 shares of the financial services provider’s stock worth $45,000 after buying an additional 876 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of East West Bancorp during the second quarter worth approximately $47,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on the stock. Wells Fargo & Co decreased their price target on shares of East West Bancorp from $60.00 to $57.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Zacks Investment Research raised shares of East West Bancorp from a “sell” rating to a “hold” rating and set a $45.00 price target for the company in a research report on Friday, October 4th. Wedbush decreased their price target on shares of East West Bancorp from $55.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. SunTrust Banks decreased their price target on shares of East West Bancorp from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, BidaskClub upgraded East West Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $53.43.

In related news, CEO Dominic Ng purchased 25,840 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were purchased at an average price of $38.71 per share, with a total value of $1,000,266.40. Following the purchase, the chief executive officer now owns 538,250 shares of the company’s stock, valued at approximately $20,835,657.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Catherine Zhou purchased 2,512 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $39.82 per share, for a total transaction of $100,027.84. Following the purchase, the executive vice president now directly owns 2,512 shares in the company, valued at approximately $100,027.84. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 38,052 shares of company stock worth $1,478,330. 0.61% of the stock is owned by corporate insiders.

EWBC traded down $0.08 during trading hours on Friday, hitting $45.89. 614,200 shares of the stock were exchanged, compared to its average volume of 981,123. The stock has a 50-day simple moving average of $43.47 and a 200-day simple moving average of $44.84. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 9.85, a price-to-earnings-growth ratio of 0.96 and a beta of 1.66. East West Bancorp, Inc. has a 12 month low of $37.69 and a 12 month high of $56.09. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.01 and a quick ratio of 1.01.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.03). The firm had revenue of $421.28 million for the quarter, compared to analyst estimates of $418.32 million. East West Bancorp had a return on equity of 14.90% and a net margin of 31.98%. East West Bancorp’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 earnings per share. Sell-side analysts expect that East West Bancorp, Inc. will post 4.78 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Thursday, October 31st. East West Bancorp’s payout ratio is currently 23.61%.

About East West Bancorp

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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

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

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