Municipal Employees Retirement System of Michigan Sells 12,070 Shares of East West Bancorp, Inc. (EWBC)

Municipal Employees Retirement System of Michigan cut its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 21.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,700 shares of the financial services provider’s stock after selling 12,070 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in East West Bancorp were worth $2,612,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Royal Bank of Canada increased its stake in East West Bancorp by 156.1% during the second quarter. Royal Bank of Canada now owns 72,735 shares of the financial services provider’s stock worth $4,260,000 after purchasing an additional 44,336 shares during the period. Dai Ichi Life Insurance Company Ltd increased its stake in East West Bancorp by 113.8% during the second quarter. Dai Ichi Life Insurance Company Ltd now owns 96,514 shares of the financial services provider’s stock worth $5,654,000 after purchasing an additional 51,378 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of East West Bancorp by 4.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 52,762 shares of the financial services provider’s stock worth $3,091,000 after buying an additional 2,275 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of East West Bancorp by 352.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,516 shares of the financial services provider’s stock worth $1,378,000 after buying an additional 18,321 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of East West Bancorp by 128.7% during the second quarter. Principal Financial Group Inc. now owns 2,951,316 shares of the financial services provider’s stock worth $172,888,000 after buying an additional 1,660,844 shares during the period. Institutional investors own 90.58% of the company’s stock.

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A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods restated a “hold” rating and set a $57.00 target price on shares of East West Bancorp in a research note on Tuesday, September 26th. BMO Capital Markets restated a “hold” rating and set a $61.00 target price on shares of East West Bancorp in a research note on Thursday, October 5th. Zacks Investment Research upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. DA Davidson restated a “hold” rating and set a $63.00 target price on shares of East West Bancorp in a research note on Friday, October 20th. Finally, Piper Jaffray Companies set a $74.00 target price on shares of East West Bancorp and gave the stock a “buy” rating in a research note on Saturday, October 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. East West Bancorp currently has an average rating of “Hold” and an average price target of $64.60.

Shares of East West Bancorp, Inc. (NASDAQ EWBC) traded up $0.37 on Tuesday, reaching $57.03. The company had a trading volume of 917,300 shares, compared to its average volume of 935,950. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $8,189.80, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 1.54 and a beta of 1.47. East West Bancorp, Inc. has a 52-week low of $45.26 and a 52-week high of $61.90.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.03. The firm had revenue of $348.97 million during the quarter, compared to the consensus estimate of $349.28 million. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 earnings per share. equities research analysts predict that East West Bancorp, Inc. will post 3.49 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Tuesday, October 31st. East West Bancorp’s dividend payout ratio (DPR) is 21.98%.

In related news, Director Rudolph Estrada sold 1,916 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $55.97, for a total value of $107,238.52. Following the completion of the transaction, the director now directly owns 15,475 shares of the company’s stock, valued at $866,135.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Herman Y. Li sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $61.00, for a total value of $610,000.00. Following the completion of the transaction, the director now directly owns 40,130 shares of the company’s stock, valued at $2,447,930. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.

East West Bancorp Profile

East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.

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

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