Squarepoint Ops LLC Lowers Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

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Squarepoint Ops LLC lessened its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 11.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,935 shares of the financial services provider’s stock after selling 28,163 shares during the quarter. Squarepoint Ops LLC’s holdings in East West Bancorp were worth $9,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Nuveen Asset Management LLC increased its holdings in East West Bancorp by 130.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,446,685 shares of the financial services provider’s stock worth $67,662,000 after buying an additional 817,822 shares in the last quarter. Synovus Financial Corp grew its stake in shares of East West Bancorp by 3.5% during the 3rd 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. Cullen Frost Bankers Inc. grew its stake in shares of East West Bancorp by 63.1% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,592 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 616 shares during the period. GW Henssler & Associates Ltd. grew its stake in shares of East West Bancorp by 15.9% during the 2nd quarter. GW Henssler & Associates Ltd. now owns 9,900 shares of the financial services provider’s stock valued at $463,000 after purchasing an additional 1,358 shares during the period. Finally, Barclays PLC grew its stake in shares of East West Bancorp by 5.7% during the 3rd quarter. Barclays PLC now owns 114,775 shares of the financial services provider’s stock valued at $5,083,000 after purchasing an additional 6,223 shares during the period. 87.63% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Catherine Zhou acquired 2,512 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $39.82 per share, with a total value of $100,027.84. Following the transaction, the executive vice president now directly owns 2,512 shares in the company, valued at $100,027.84. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.61% of the stock is owned by insiders.

EWBC stock opened at $45.82 on Monday. East West Bancorp, Inc. has a twelve month low of $37.69 and a twelve month high of $56.09. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.18. The stock has a market cap of $6.67 billion, a P/E ratio of 9.83, a PEG ratio of 0.96 and a beta of 1.68. The business’s 50-day moving average price is $44.16 and its 200-day moving average price is $44.25.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.03). East West Bancorp had a net margin of 31.98% and a return on equity of 14.90%. The company had revenue of $421.28 million for the quarter, compared to analysts’ expectations of $418.32 million. During the same period in the previous year, the firm earned $1.17 earnings per share. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities research analysts expect that East West Bancorp, Inc. will post 4.77 earnings per share for the current fiscal year.

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

A number of research firms have issued reports on EWBC. BidaskClub downgraded East West Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Wedbush cut their price target on 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. Wells Fargo & Co cut their price target on East West Bancorp from $60.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Zacks Investment Research upgraded East West Bancorp from a “sell” rating to a “hold” rating and set a $45.00 price target for the company in a research note on Friday, October 4th. Finally, Raymond James downgraded East West Bancorp from a “market perform” rating to an “underperform” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $53.43.

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.

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

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