According to the most recent filing that the company has made with the SEC, Jennison Associates LLC grew its ownership stake in East West Bancorp, Inc. (NASDAQ: EWBC) by 34.6% during the third quarter. The company made the filing. The total number of shares of stock in the company that offers financial services that the fund owns has increased to 450,856 due to an additional purchase of 116,020 shares that took place during the period. The most recent disclosure that Jennison Associates LLC has made with the SEC indicates that the company is interested in East West Bancorp, valued at approximately $30,270,000. This interest is equivalent to approximately 0.32% of the company.
Alterations have also been made to the EWBC holdings of other hedge funds. These adjustments were made recently. American Century Companies Inc. increased its holdings in East West Bancorp by 17.4 percent during the first three months of 2018. American Century Companies Inc. now has 21,819 shares of the financial services provider’s stock, valued at $1,725,000, following purchasing of an additional 3,228 shares during the most recent quarter. Natixis Advisors L.P. added an investment in East West Bancorp with a value of $836,000 during the first three months of the current year. During the first three months of 2018, Great West Life Assurance Company of Canada increased the proportion of East West Bancorp shares it owned by 8.1%. Great West Life Assurance Co. now holds a total of 77,662 shares of the stock held by the financial services provider. This is because the company purchased an additional 5,821 shares during the most recent quarter. The stock is currently estimated to be worth $6,308,000. The Canada Pension Plan Investment Board increased the amount of East West Bancorp stock owned by 221.0% over the first three months of 2018. The Canada Pension Plan Investment Board now has 2,600 shares, with a market valuation of $200,000, following an additional purchase of 1,790 shares during the most recent quarter.
Last but not least, during the first quarter of 2018, Vanguard Group Inc. grew its holdings in East West Bancorp by 0.6%. This certainly should not be considered the least important development. Vanguard Group Inc. has increased the number of shares it owns in the company providing financial services by 86,848 since the beginning of the most recent quarter, bringing the total number of shares it owns in the company to 13,803,992. At the moment, the price of these shares is equal to $1,090,792,000. Institutional investors and hedge funds own 88.68% of the total number of shares that are issued and outstanding in the company.
NASDAQ: EWBC was first available for trading on Tuesday with an opening price of $69.20. The moving averages for the company over the past 50 days come in at $67.31, and over the last 200 days, they come in at $69.58. All three ratios, including the current, quick, and debt-to-equity ratios, total 0.08, 0.90, and 0.90, respectively. During the previous year, the price of East West Bancorp, Inc. fluctuated between a low of $61.65 and a high of $93.51, with a low of $61.65 serving as the lowest point in the range. The company has a market capitalization of $9.75 billion, equivalent to a price-to-earnings ratio of 9.79, a price-to-earnings-growth ratio of 0.80, and a beta value of 1.40. The price-to-earnings-growth ratio indicates that the company’s earnings are expected to grow at 0.80 over the next year.
On October 20, the most up-to-date quarterly earnings report for East West Bancorp (NASDAQ: EWBC) was made available to the public. The financial services company reported earnings per share for the quarter that came in at $2.08, which was below the consensus estimate of $2.09 by (0.01) cents. East West Bancorp had a return on equity of 17.69% and a net margin of 44.11% for the company overall. The actual revenue that the company brought in during the quarter was $627.36 million, which is significantly higher than the forecasted revenue of $621.36 million that industry experts had predicted the company would earn. The company posted earnings of $1.57 per share during the same period the year before when compared to the current year. According to the forecasts provided by research analysts, when the current financial year of East West Bancorp, Inc. comes to a close, the company will have generated earnings equivalent to 7.77 cents per share.
In addition, the business just recently announced and paid a quarterly dividend, which was paid out on November 15 after the dividend was declared and paid out. Shareholders who were “of record” as of the previous business day, November 1, 2018, were eligible to receive dividend payments of $0.40 per share, distributed on November 1, 2018. Because of this, the dividend yield ends up being 2.31 percent, and the annual dividend payment ends up being 1.60 dollars. The dividend was paid to shareholders on October 31, a Monday. The dividend payout ratio for East West Bancorp is calculated to be 22.63 percent.
Several market analysts have offered their opinions on EWBC shares in the most recent days.
On Wednesday, October 12, StockNews.com published a report about East West Bancorp for the first time. The report was about the company’s recent earnings report. They advised their clients to “hold” the stock moving forward. Piper Sandler published their report for the week of September 30, in which they stated that they had increased their target price for East West Bancorp to $75.00. The objective price was initially determined to be $55.00. The next day, Monday, December 5, was the first day that Morgan Stanley would be covering East West Bancorp. This day was the beginning of a new coverage period. They determined that a price objective of $84 was appropriate for the stock and rated it as having “equal weight.”
Last but not least, in a report that was released on Thursday, December 15, Wells Fargo & Company announced that it would reduce the price objective that it had set for East West Bancorp from $90.00 to $85.00 while maintaining the “overweight” rating that it had previously assigned to the stock. Two buy recommendations, and three hold ratings have been given to the stock of the company by research analysts in total. Bloomberg’s analysts have projected a price target of $81.67 for the company, and most of them are advising investors to hold onto their shares.
On November 14, 2018, Douglas Paul Krause, Vice Chairman of East West Bancorp, sold 5,000 shares. This was one of the occurrences that took place during the events. Because each share was sold at an average price of $72.43, the total value of the sold shares was equal to $362,150.00. At this time, 52,435 shares of the company are owned directly by employees and other company insiders. These shares have a total value of $3,797,867,05 as a whole. If you follow this link, you will be taken to the SEC filing in which the sale was disclosed. Please click on the link to proceed. The total number of shares held by company insiders amounts to 0.8 percent of the total number of shares issued by the company.