Handelsbanken Fonder AB cut its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 9.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,149,416 shares of the financial services provider’s stock after selling 228,195 shares during the period. East West Bancorp makes up approximately 4.6% of Handelsbanken Fonder AB’s portfolio, making the stock its 4th biggest position. Handelsbanken Fonder AB owned approximately 1.48% of East West Bancorp worth $129,760,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of EWBC. Itau Unibanco Holding S.A. acquired a new stake in shares of East West Bancorp in the 2nd quarter valued at about $108,000. Contravisory Investment Management Inc. acquired a new stake in shares of East West Bancorp in the 2nd quarter valued at about $131,000. First Hawaiian Bank acquired a new stake in shares of East West Bancorp in the 3rd quarter valued at about $169,000. Atria Investments LLC acquired a new stake in shares of East West Bancorp in the 2nd quarter valued at about $206,000. Finally, Raymond James Trust N.A. acquired a new stake in shares of East West Bancorp in the 2nd quarter valued at about $220,000. 87.74% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:EWBC traded down $0.89 during mid-day trading on Friday, reaching $54.00. The company had a trading volume of 747,766 shares, compared to its average volume of 1,166,539. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $7.94 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 1.13 and a beta of 1.37. East West Bancorp, Inc. has a one year low of $50.34 and a one year high of $73.98.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.03. The company had revenue of $395.22 million for the quarter, compared to analysts’ expectations of $398.25 million. East West Bancorp had a net margin of 34.80% and a return on equity of 15.70%. During the same quarter in the previous year, the firm posted $0.91 EPS. Research analysts predict that East West Bancorp, Inc. will post 4.63 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.70%. East West Bancorp’s dividend payout ratio (DPR) is presently 26.59%.

EWBC has been the subject of several research reports. BidaskClub upgraded East West Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 19th. Keefe, Bruyette & Woods upgraded East West Bancorp from a “market perform” rating to an “outperform” rating and set a $41.00 price target for the company in a research note on Friday, July 20th. Piper Jaffray Companies set a $82.00 price target on East West Bancorp and gave the company a “buy” rating in a research note on Thursday, July 19th. Barclays cut their price target on East West Bancorp from $78.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday, July 20th. Finally, Zacks Investment Research downgraded East West Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $71.67.

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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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.

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

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