CIBC Asset Management Inc Has $332,000 Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

CIBC Asset Management Inc reduced its position in East West Bancorp, Inc. (NASDAQ:EWBCFree Report) by 6.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,616 shares of the financial services provider’s stock after selling 300 shares during the period. CIBC Asset Management Inc’s holdings in East West Bancorp were worth $332,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of EWBC. Vanguard Group Inc. increased its position in shares of East West Bancorp by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 15,243,818 shares of the financial services provider’s stock valued at $803,502,000 after purchasing an additional 215,281 shares during the last quarter. FMR LLC boosted its position in shares of East West Bancorp by 3.8% during the 3rd quarter. FMR LLC now owns 8,416,534 shares of the financial services provider’s stock valued at $443,635,000 after acquiring an additional 306,473 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of East West Bancorp by 30.5% during the 4th 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. Boston Partners boosted its stake in East West Bancorp by 48.5% in the fourth quarter. Boston Partners now owns 2,713,987 shares of the financial services provider’s stock worth $195,279,000 after buying an additional 886,841 shares in the last quarter. Finally, Norges Bank purchased a new stake in East West Bancorp in the fourth quarter worth approximately $115,369,000. 89.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Jefferies Financial Group upped their target price on East West Bancorp from $86.00 to $88.00 and gave the company a “buy” rating in a report on Monday, April 8th. Barclays assumed coverage on East West Bancorp in a research report on Friday, March 8th. They set an “overweight” rating and a $106.00 price objective on the stock. Stephens raised their price objective on East West Bancorp from $85.00 to $86.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods lifted their target price on East West Bancorp from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Citigroup lifted their target price on East West Bancorp from $85.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, East West Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $84.08.

Get Our Latest Report on East West Bancorp

Insider Activity

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

East West Bancorp Trading Down 1.9 %

Shares of EWBC opened at $70.64 on Tuesday. The firm’s 50-day moving average is $74.81 and its two-hundred day moving average is $72.96. The firm has a market capitalization of $9.83 billion, a P/E ratio of 8.90, a PEG ratio of 3.66 and a beta of 1.33. East West Bancorp, Inc. has a twelve month low of $48.65 and a twelve month high of $79.54. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50.

East West Bancorp (NASDAQ:EWBCGet Free Report) last posted its quarterly earnings results 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 the consensus estimate of $636.77 million. During the same quarter last year, the firm posted $2.32 earnings per share. East West Bancorp’s revenue was down 2.4% on a year-over-year basis. On average, research analysts predict that East West Bancorp, Inc. will post 8.03 earnings per share 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. This represents a $2.20 annualized dividend and a yield of 3.11%. The ex-dividend date was Thursday, May 2nd. East West Bancorp’s dividend payout ratio is currently 27.71%.

East West Bancorp Company 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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