American International Group Inc. increased its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 1.0% during the third quarter, HoldingsChannel reports. The firm owned 294,634 shares of the financial services provider’s stock after purchasing an additional 2,957 shares during the period. American International Group Inc.’s holdings in East West Bancorp were worth $17,787,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in EWBC. Atria Investments LLC bought a new stake in shares of East West Bancorp in the second quarter worth $206,000. Bank of Montreal Can bought a new stake in shares of East West Bancorp in the second quarter worth $649,000. Janney Montgomery Scott LLC grew its holdings in East West Bancorp by 6.2% during the second quarter. Janney Montgomery Scott LLC now owns 151,597 shares of the financial services provider’s stock valued at $9,884,000 after purchasing an additional 8,844 shares during the period. BTIM Corp. bought a new stake in East West Bancorp during the second quarter valued at about $10,356,000. Finally, Alps Advisors Inc. bought a new stake in East West Bancorp during the second quarter valued at about $724,000. Institutional investors and hedge funds own 86.93% of the company’s stock.
Several analysts have issued reports on the company. BMO Capital Markets cut their price target on East West Bancorp from $73.00 to $68.00 and set an “outperform” rating for the company in a report on Friday, October 19th. ValuEngine lowered East West Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Tuesday, September 18th. BidaskClub lowered East West Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, August 9th. Finally, Wells Fargo & Co set a $76.00 price target on East West Bancorp and gave the company a “buy” rating in a report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. East West Bancorp currently has a consensus rating of “Buy” and a consensus price target of $71.67.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.03. The business had revenue of $395.22 million during the quarter, compared to analyst estimates of $398.25 million. East West Bancorp had a return on equity of 15.70% and a net margin of 34.80%. During the same quarter in the previous year, the company posted $0.91 earnings per share. Equities research analysts predict that East West Bancorp, Inc. will post 4.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Wednesday, October 31st. East West Bancorp’s dividend payout ratio (DPR) is 26.59%.
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East West Bancorp 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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.
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