Centiva Capital LP decreased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 52.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,282 shares of the financial services provider's stock after selling 16,038 shares during the quarter. Centiva Capital LP's holdings in East West Bancorp were worth $1,182,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in EWBC. Cetera Advisors LLC acquired a new stake in shares of East West Bancorp during the first quarter worth $278,000. Mather Group LLC. raised its position in shares of East West Bancorp by 58.1% in the 2nd quarter. Mather Group LLC. now owns 759 shares of the financial services provider's stock worth $60,000 after buying an additional 279 shares during the period. Simplicity Wealth LLC raised its position in shares of East West Bancorp by 7.5% in the 2nd quarter. Simplicity Wealth LLC now owns 3,381 shares of the financial services provider's stock worth $248,000 after buying an additional 237 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of East West Bancorp in the 2nd quarter worth $3,832,000. Finally, OLD National Bancorp IN raised its position in shares of East West Bancorp by 6.4% in the 2nd quarter. OLD National Bancorp IN now owns 2,923 shares of the financial services provider's stock worth $214,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds own 89.53% of the company's stock.
In other East West Bancorp news, insider Irene H. Oh sold 10,000 shares of East West Bancorp stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $98.50, for a total transaction of $985,000.00. Following the transaction, the insider now directly owns 117,193 shares in the company, valued at approximately $11,543,510.50. The trade was a 7.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of East West Bancorp stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the transaction, the insider now owns 45,403 shares in the company, valued at approximately $4,840,413.83. The trade was a 20.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,969 shares of company stock valued at $2,458,276. Corporate insiders own 1.04% of the company's stock.
Shares of NASDAQ:EWBC opened at $106.56 on Thursday. East West Bancorp, Inc. has a 12 month low of $66.39 and a 12 month high of $113.95. The stock has a market cap of $14.77 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 3.14 and a beta of 1.28. The stock's 50 day moving average price is $96.82 and its 200 day moving average price is $84.29. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.92 and a quick ratio of 0.92.
East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. The firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $641.80 million. During the same quarter in the previous year, the company earned $2.02 earnings per share. Equities research analysts anticipate that East West Bancorp, Inc. will post 8.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a $0.55 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.20 annualized dividend and a dividend yield of 2.06%. East West Bancorp's dividend payout ratio is currently 27.78%.
Several brokerages recently weighed in on EWBC. Keefe, Bruyette & Woods increased their target price on East West Bancorp from $96.00 to $128.00 and gave the stock an "outperform" rating in a research report on Wednesday. Barclays raised their price objective on East West Bancorp from $108.00 to $110.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Stephens raised their price objective on East West Bancorp from $91.00 to $104.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Wells Fargo & Company raised their price objective on East West Bancorp from $105.00 to $120.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Morgan Stanley raised their price objective on East West Bancorp from $103.00 to $106.00 and gave the company an "overweight" rating in a research report on Monday, September 30th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.08.
View Our Latest Research Report on 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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.
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