Whittier Trust Co. Has $2.94 Million Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Whittier Trust Co. reduced its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,746 shares of the financial services provider’s stock after selling 2,634 shares during the period. Whittier Trust Co.’s holdings in East West Bancorp were worth $2,935,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Legal & General Group Plc lifted its holdings in East West Bancorp by 15.5% during the 4th quarter. Legal & General Group Plc now owns 320,984 shares of the financial services provider’s stock valued at $13,973,000 after purchasing an additional 43,078 shares during the last quarter. Nordea Investment Management AB lifted its holdings in East West Bancorp by 11.6% during the 4th quarter. Nordea Investment Management AB now owns 5,112 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 532 shares during the last quarter. Norges Bank bought a new position in East West Bancorp during the 4th quarter valued at about $48,178,000. Geode Capital Management LLC lifted its holdings in East West Bancorp by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 1,750,970 shares of the financial services provider’s stock valued at $76,177,000 after purchasing an additional 96,398 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in East West Bancorp by 29.0% during the 4th quarter. Deutsche Bank AG now owns 824,196 shares of the financial services provider’s stock valued at $35,874,000 after purchasing an additional 185,259 shares during the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

EWBC has been the subject of several analyst reports. Wedbush reissued an “outperform” rating and set a $50.00 price target (down from $57.00) on shares of East West Bancorp in a report on Monday, June 3rd. ValuEngine downgraded shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday. Zacks Investment Research raised shares of East West Bancorp from a “sell” rating to a “hold” rating and set a $48.00 price target for the company in a report on Friday, June 28th. Morgan Stanley raised shares of East West Bancorp from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $59.00 to $57.00 in a report on Monday, July 1st. Finally, Raymond James downgraded shares of East West Bancorp from a “market perform” rating to an “underperform” rating in a report on Monday, July 8th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $61.33.

Shares of NASDAQ EWBC traded down $0.69 during trading on Friday, reaching $43.80. The company had a trading volume of 881,689 shares, compared to its average volume of 868,054. East West Bancorp, Inc. has a 52 week low of $40.05 and a 52 week high of $66.08. The stock has a market cap of $6.99 billion, a PE ratio of 9.40, a PEG ratio of 1.05 and a beta of 1.62. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $46.19.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.24 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.24. East West Bancorp had a net margin of 32.92% and a return on equity of 15.42%. The company had revenue of $420.09 million during the quarter, compared to the consensus estimate of $416.35 million. During the same period in the previous year, the firm posted $1.18 earnings per share. As a group, equities analysts expect that East West Bancorp, Inc. will post 4.89 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Wednesday, July 31st. East West Bancorp’s dividend payout ratio is presently 23.61%.

East West Bancorp Company 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 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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