Seven Eight Capital LP Takes $968,000 Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Seven Eight Capital LP bought a new stake in East West Bancorp, Inc. (NASDAQ:EWBCFree Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 13,447 shares of the financial services provider’s stock, valued at approximately $968,000.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in East West Bancorp during the fourth quarter worth about $115,369,000. Westfield Capital Management Co. LP acquired a new stake in East West Bancorp during the fourth quarter worth about $67,692,000. Boston Partners increased its position in East West Bancorp by 48.5% during the fourth quarter. Boston Partners now owns 2,713,987 shares of the financial services provider’s stock worth $195,279,000 after purchasing an additional 886,841 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of East West Bancorp by 30.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,215,701 shares of the financial services provider’s stock valued at $231,370,000 after acquiring an additional 751,944 shares during the last quarter. Finally, Ruffer LLP acquired a new stake in shares of East West Bancorp during the third quarter valued at about $33,675,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Stock Down 0.4 %

Shares of East West Bancorp stock opened at $72.00 on Monday. East West Bancorp, Inc. has a 52-week low of $48.65 and a 52-week high of $79.54. The company has a 50 day moving average of $74.96 and a 200 day moving average of $72.89. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $10.02 billion, a P/E ratio of 9.07, a P/E/G ratio of 3.66 and a beta of 1.33.

East West Bancorp (NASDAQ:EWBCGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.08. East West Bancorp had a net margin of 26.78% and a return on equity of 17.43%. The company had revenue of $644.13 million for the quarter, compared to analysts’ expectations of $636.77 million. During the same quarter last year, the company earned $2.32 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, research analysts forecast that East West Bancorp, Inc. will post 8.03 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were issued a dividend of $0.55 per share. The ex-dividend date was Thursday, May 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 3.06%. East West Bancorp’s payout ratio is currently 27.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of East West Bancorp from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Compass Point raised their price objective on shares of East West Bancorp from $83.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Stephens raised their price objective on shares of East West Bancorp from $85.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Jefferies Financial Group raised their price objective on shares of East West Bancorp from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Wedbush reissued an “outperform” rating and issued a $90.00 price objective on shares of East West Bancorp in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.08.

Get Our Latest Stock Report on East West Bancorp

Insiders Place Their Bets

In other East West Bancorp news, insider Irene H. Oh sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total transaction of $775,800.00. Following the sale, the insider now owns 127,193 shares of the company’s stock, valued at $9,867,632.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Vice Chairman Douglas Paul Krause sold 8,000 shares of East West Bancorp stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $73.76, for a total value of $590,080.00. Following the transaction, the insider now directly owns 57,403 shares of the company’s stock, valued at approximately $4,234,045.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Irene H. Oh sold 10,000 shares of East West Bancorp stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total transaction of $775,800.00. Following the completion of the transaction, the insider now directly owns 127,193 shares in the company, valued at $9,867,632.94. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

East West Bancorp Profile

(Free Report)

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

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