Plato Investment Management Ltd Purchases 2,625 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Plato Investment Management Ltd increased its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 6,562.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,665 shares of the financial services provider’s stock after buying an additional 2,625 shares during the period. Plato Investment Management Ltd’s holdings in East West Bancorp were worth $211,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of EWBC. Raymond James Financial Services Advisors Inc. boosted its holdings in East West Bancorp by 13.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 5,741 shares of the financial services provider’s stock worth $413,000 after buying an additional 699 shares during the period. Global Retirement Partners LLC boosted its holdings in East West Bancorp by 1,050.0% in the 4th quarter. Global Retirement Partners LLC now owns 667 shares of the financial services provider’s stock worth $47,000 after buying an additional 609 shares during the period. Fifth Third Bancorp boosted its holdings in East West Bancorp by 9.4% in the 4th quarter. Fifth Third Bancorp now owns 2,714 shares of the financial services provider’s stock worth $195,000 after buying an additional 233 shares during the period. Boston Trust Walden Corp boosted its holdings in East West Bancorp by 0.3% in the 4th quarter. Boston Trust Walden Corp now owns 729,500 shares of the financial services provider’s stock worth $52,488,000 after buying an additional 1,965 shares during the period. Finally, International Assets Investment Management LLC bought a new position in East West Bancorp in the 4th quarter worth $2,366,000. Institutional investors own 89.53% of the company’s stock.

Analyst Ratings Changes

EWBC has been the subject of several research reports. Stephens increased their price objective on shares of East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. DA Davidson increased their price objective on shares of East West Bancorp from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Jefferies Financial Group dropped their price objective on shares of East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of East West Bancorp from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.60.

Insider Buying and Selling

In related news, insider Irene H. Oh sold 10,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total value of $775,800.00. Following the sale, the insider now directly owns 127,193 shares of the company’s stock, valued at approximately $9,867,632.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Irene H. Oh sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total transaction of $775,800.00. Following the transaction, the insider now directly owns 127,193 shares of the company’s stock, valued at $9,867,632.94. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $73.76, for a total transaction of $590,080.00. Following the transaction, the insider now directly owns 57,403 shares in the company, valued at $4,234,045.28. The disclosure for this sale can be found here. Insiders have sold 23,346 shares of company stock valued at $1,834,960 in the last ninety days. 1.04% of the stock is owned by company insiders.

East West Bancorp Price Performance

Shares of NASDAQ EWBC traded down $4.72 during mid-day trading on Thursday, hitting $83.17. 1,081,264 shares of the company’s stock traded hands, compared to its average volume of 1,036,694. The company’s 50-day moving average is $75.24 and its two-hundred day moving average is $74.65. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $11.57 billion, a P/E ratio of 11.07, a PEG ratio of 3.01 and a beta of 1.32. East West Bancorp, Inc. has a 1 year low of $49.59 and a 1 year high of $89.75.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.10. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The company had revenue of $638.00 million for the quarter, compared to analyst estimates of $631.61 million. During the same period in the prior year, the company posted $2.20 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities analysts anticipate that East West Bancorp, Inc. will post 8.15 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, August 2nd will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, August 2nd. East West Bancorp’s dividend payout ratio (DPR) is currently 27.71%.

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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.