Huntington National Bank Raises Stake in East West Bancorp, Inc. (NASDAQ:EWBC)

Huntington National Bank lifted its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 80.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,407 shares of the financial services provider’s stock after buying an additional 1,072 shares during the quarter. Huntington National Bank’s holdings in East West Bancorp were worth $107,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Advantage Investment Management LLC grew its holdings in East West Bancorp by 64.1% in the second quarter. Advantage Investment Management LLC now owns 717 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 280 shares during the period. Texas Permanent School Fund grew its holdings in East West Bancorp by 0.3% in the third quarter. Texas Permanent School Fund now owns 99,065 shares of the financial services provider’s stock valued at $4,388,000 after purchasing an additional 287 shares during the period. Wedbush Securities Inc. grew its holdings in East West Bancorp by 3.2% in the second quarter. Wedbush Securities Inc. now owns 9,832 shares of the financial services provider’s stock valued at $460,000 after purchasing an additional 304 shares during the period. Synovus Financial Corp grew its holdings in East West Bancorp by 3.5% in the third quarter. Synovus Financial Corp now owns 9,004 shares of the financial services provider’s stock valued at $402,000 after purchasing an additional 304 shares during the period. Finally, Smith Graham & Co. Investment Advisors LP grew its holdings in East West Bancorp by 0.3% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 104,710 shares of the financial services provider’s stock valued at $4,638,000 after purchasing an additional 310 shares during the period. Hedge funds and other institutional investors own 87.99% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. Morgan Stanley lowered their target price on shares of East West Bancorp from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. ValuEngine downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Wedbush decreased their price objective on shares of East West Bancorp from $55.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. BidaskClub upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, Zacks Investment Research upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating and set a $45.00 price objective for the company in a research note on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $53.43.

EWBC traded down $0.08 during trading on Friday, hitting $45.89. 614,200 shares of the company’s stock were exchanged, compared to its average volume of 981,123. The stock has a 50 day moving average price of $43.47 and a 200 day moving average price of $44.84. The firm has a market cap of $6.67 billion, a P/E ratio of 9.85, a price-to-earnings-growth ratio of 0.96 and a beta of 1.66. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.18. East West Bancorp, Inc. has a 1 year low of $37.69 and a 1 year high of $56.09.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.17 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.03). The firm had revenue of $421.28 million for the quarter, compared to the consensus estimate of $418.32 million. East West Bancorp had a return on equity of 14.90% and a net margin of 31.98%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.17 EPS. Analysts forecast that East West Bancorp, Inc. will post 4.78 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.275 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.10 annualized dividend and a dividend yield of 2.40%. East West Bancorp’s dividend payout ratio is currently 23.61%.

In other news, EVP Catherine Zhou purchased 2,512 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $39.82 per share, for a total transaction of $100,027.84. Following the completion of the transaction, the executive vice president now owns 2,512 shares of the company’s stock, valued at $100,027.84. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul H. Irving bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $38.69 per share, with a total value of $38,690.00. Following the transaction, the director now directly owns 30,268 shares in the company, valued at $1,171,068.92. The disclosure for this purchase can be found here. Insiders have bought 38,052 shares of company stock valued at $1,478,330 in the last 90 days. Insiders own 0.61% of the company’s stock.

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 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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