East West Bancorp, Inc. (NASDAQ:EWBC).
Fisher Asset Management, LLC reports that it sold 167,010 shares in quarter ending 06/30/2017 decreasing its holdings in East West Bancorp, Inc. by 6.1%. Its position stood at $150,075,000 an increase of $9,237,000 as of the end of the quarter.
Here are a few additional firms who have increased or decreased their stake in (EWBC). Clinton Group Inc cut its position by selling 3,504 shares a decrease of 10.8% in the quarter. Clinton Group Inc now holds 29,056 shares valued at $1,499,000. The total value of its holdings increased 34.7%. As of the end of the quarter Bank Of Montreal /can/ had disposed of 250 shares trimming its position 6.4%. The value of the investment in (EWBC) went from $201,000 to $214,000 a change of 6.5% since the last quarter.
Capstone Asset Management Co grew its stake by buying 900 shares an increase of 8.3%. Capstone Asset Management Co owns 11,704 shares with a value of $686,000. The value of the position overall is up by 22.9%.
On July 7 the company was downgraded from “Market Perform” to “Outperform” and a price target of $68.00 was set in a statement from BMO Capital. Equity analyst BMO Capital raised the price target and downgraded the stock on July 7 boosting the price target from $44.00 to $68.00 and moving the rating from “Market Perform” to “Outperform”.
On June 28, 2017 Wedbush started covering EWBC giving it an initial rating of “Outperform”. On December 6 Barclays maintained a company rating of “Overweight” and raised the price target to $56.00 from $45.00.
October 11 investment analysts at Barclays held the company rating at “Overweight” and moved down the price target from $50.00 to $45.00. October 11 investment analysts at Deutsche Bank maintained a stock rating of “Overweight” but raised the price expectation from $41.00 to $45.00.
The company is trading down since yesterday’s close of $58.43. East West Bancorp, Inc. also declared a dividend for shareholders that was paid on Monday the 15th of May 2017. The dividend payment was $0.200 per share for the quarter or $0.80 annualized. This dividend amount was represent a yeild of $1.37. The ex-dividend date was Thursday the 27th of April 2017.
It is trading at $58.26 which is marginally over the 50 day moving average which is $56.22 and which is just over the 200 day moving average of $53.40. The 50 day moving average was up $2.04 and the 200 day average went up $4.86 or +9.10%.
East West Bancorp, Inc.’s P/E ratio is 17.18 and the market cap of the company is 8.42B. In the last earnings report the EPS was $3.39 and is projected to be $3.70 for the current year with 144,462,000 shares outstanding. Next quarter’s EPS is forecasted to be $0.85 with next year’s EPS anticipated to be $3.80.
Traders are a little more bearish on the company considering the change in short interest. The stock recorded a rise in short interest of 47.79% between May 31, 2017 and May 15, 2017. Short shares grew 721,075 over that period. Days to cover decreased from 1.5 to 1.3 and the percentage of shorted shares is 0.02% as of May 15.