Short Interest in East West Bancorp, Inc. (NASDAQ:EWBC) Drops By 16.5%

Share on StockTwits

East West Bancorp, Inc. (NASDAQ:EWBC) saw a large decrease in short interest in July. As of July 31st, there was short interest totalling 1,489,500 shares, a decrease of 16.5% from the June 30th total of 1,784,600 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average daily volume of 992,500 shares, the days-to-cover ratio is currently 1.5 days.

EWBC has been the topic of several analyst reports. Wedbush reissued an “outperform” rating and set a $50.00 target price (down from $57.00) on shares of East West Bancorp in a report on Monday, June 3rd. Morgan Stanley raised East West Bancorp from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $59.00 to $57.00 in a report on Monday, July 1st. BidaskClub lowered East West Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine downgraded East West Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, August 2nd. Finally, Raymond James downgraded East West Bancorp from a “market perform” rating to an “underperform” rating in a research report on Monday, July 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.33.

Shares of EWBC stock traded down $0.95 on Thursday, hitting $38.39. 1,074,082 shares of the company’s stock were exchanged, compared to its average volume of 936,907. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.03 and a quick ratio of 1.03. East West Bancorp has a 12 month low of $38.24 and a 12 month high of $66.00. The stock has a market cap of $5.73 billion, a P/E ratio of 8.24, a price-to-earnings-growth ratio of 0.89 and a beta of 1.62. The company has a 50 day moving average of $45.46 and a 200 day moving average of $48.59.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.24 earnings per share for the quarter, hitting the consensus estimate of $1.24. East West Bancorp had a return on equity of 15.42% and a net margin of 32.92%. The business had revenue of $420.09 million during the quarter, compared to the consensus estimate of $416.35 million. During the same period in the prior year, the company earned $1.18 EPS. Sell-side analysts predict that East West Bancorp will post 4.89 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be given a $0.275 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $1.10 annualized dividend and a yield of 2.87%. East West Bancorp’s dividend payout ratio is presently 23.61%.

A number of institutional investors have recently bought and sold shares of EWBC. Toronto Dominion Bank raised its position in shares of East West Bancorp by 30.4% during the first quarter. Toronto Dominion Bank now owns 27,639 shares of the financial services provider’s stock worth $1,326,000 after acquiring an additional 6,437 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of East West Bancorp by 0.8% during the second quarter. Oregon Public Employees Retirement Fund now owns 74,893 shares of the financial services provider’s stock worth $3,503,000 after acquiring an additional 629 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of East West Bancorp by 1.4% during the first quarter. State of Alaska Department of Revenue now owns 15,739 shares of the financial services provider’s stock worth $754,000 after acquiring an additional 220 shares during the last quarter. First Republic Investment Management Inc. raised its position in shares of East West Bancorp by 11.0% during the first quarter. First Republic Investment Management Inc. now owns 480,489 shares of the financial services provider’s stock worth $23,049,000 after acquiring an additional 47,503 shares during the last quarter. Finally, Mason Street Advisors LLC raised its position in shares of East West Bancorp by 1.5% during the first quarter. Mason Street Advisors LLC now owns 77,085 shares of the financial services provider’s stock worth $3,698,000 after acquiring an additional 1,155 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

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.

Further Reading: Buy Rating

Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.