Alps Advisors Inc. Reduces Stake in East West Bancorp, Inc. (EWBC)

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Alps Advisors Inc. cut its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 34.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,802 shares of the financial services provider’s stock after selling 4,107 shares during the quarter. Alps Advisors Inc.’s holdings in East West Bancorp were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of EWBC. BlackRock Inc. increased its position in East West Bancorp by 1.3% during the second quarter. BlackRock Inc. now owns 14,631,834 shares of the financial services provider’s stock worth $953,998,000 after buying an additional 181,572 shares during the last quarter. Boston Partners increased its position in East West Bancorp by 1.8% during the second quarter. Boston Partners now owns 6,478,342 shares of the financial services provider’s stock worth $422,388,000 after buying an additional 115,315 shares during the last quarter. Bank of New York Mellon Corp increased its position in East West Bancorp by 15.1% during the second quarter. Bank of New York Mellon Corp now owns 4,771,173 shares of the financial services provider’s stock worth $311,079,000 after buying an additional 627,329 shares during the last quarter. Jennison Associates LLC increased its position in East West Bancorp by 0.9% during the second quarter. Jennison Associates LLC now owns 2,802,713 shares of the financial services provider’s stock worth $182,737,000 after buying an additional 25,720 shares during the last quarter. Finally, Bank of America Corp DE increased its position in East West Bancorp by 6.1% during the second quarter. Bank of America Corp DE now owns 1,448,128 shares of the financial services provider’s stock worth $94,418,000 after buying an additional 83,674 shares during the last quarter. 87.74% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have commented on the stock. BMO Capital Markets raised shares of East West Bancorp from a “market perform” rating to an “outperform” rating and set a $73.00 target price on the stock in a research report on Monday, October 1st. ValuEngine downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Zacks Investment Research raised shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Tuesday, September 18th. BidaskClub downgraded shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 9th. Finally, Morgan Stanley increased their target price on shares of East West Bancorp from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $71.67.

Shares of NASDAQ:EWBC opened at $54.00 on Friday. The stock has a market capitalization of $7.92 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 1.12 and a beta of 1.37. East West Bancorp, Inc. has a 52-week low of $50.34 and a 52-week high of $73.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.01 and a current ratio of 1.01.

East West Bancorp (NASDAQ:EWBC) last issued 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 company had revenue of $395.22 million for the quarter, compared to the consensus estimate 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 period last year, the business posted $0.91 earnings per share. On average, sell-side analysts predict that East West Bancorp, Inc. will post 4.63 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Wednesday, October 31st. East West Bancorp’s dividend payout ratio is currently 26.59%.

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

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