Baird Financial Group Inc. Sells 39,858 Shares of East West Bancorp, Inc. (EWBC)

Baird Financial Group Inc. reduced its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 3.6% during the fourth quarter, Holdings Channel reports. The fund owned 1,067,763 shares of the financial services provider’s stock after selling 39,858 shares during the period. Baird Financial Group Inc. owned approximately 0.74% of East West Bancorp worth $54,274,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Treasurer State of Michigan increased its position in shares of East West Bancorp by 0.3% in the third quarter. State Treasurer State of Michigan now owns 58,000 shares of the financial services provider’s stock valued at $2,129,000 after buying an additional 200 shares during the period. Canada Pension Plan Investment Board increased its position in shares of East West Bancorp by 0.8% in the third quarter. Canada Pension Plan Investment Board now owns 25,000 shares of the financial services provider’s stock valued at $918,000 after buying an additional 200 shares during the period. Hanson & Doremus Investment Management increased its position in shares of East West Bancorp by 0.8% in the second quarter. Hanson & Doremus Investment Management now owns 29,355 shares of the financial services provider’s stock valued at $1,003,000 after buying an additional 220 shares during the period. Investment Counselors of Maryland LLC increased its position in shares of East West Bancorp by 6.7% in the third quarter. Investment Counselors of Maryland LLC now owns 4,756 shares of the financial services provider’s stock valued at $175,000 after buying an additional 300 shares during the period. Finally, BlackRock Inc. increased its position in shares of East West Bancorp by 0.3% in the third quarter. BlackRock Inc. now owns 149,808 shares of the financial services provider’s stock valued at $5,500,000 after buying an additional 436 shares during the period. 85.59% of the stock is owned by hedge funds and other institutional investors.

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

Shares of East West Bancorp, Inc. (NASDAQ:EWBC) traded up 0.02% during trading on Friday, hitting $52.65. The stock had a trading volume of 520,863 shares. The stock’s 50-day moving average is $51.18 and its 200-day moving average is $42.69. East West Bancorp, Inc. has a 12-month low of $28.27 and a 12-month high of $54.04. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 17.73 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Wednesday, January 25th. The financial services provider reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.05. East West Bancorp had a return on equity of 13.09% and a net margin of 32.69%. The company had revenue of $272.70 million for the quarter, compared to analysts’ expectations of $265.74 million. During the same period last year, the firm earned $0.63 earnings per share. On average, equities research analysts expect that East West Bancorp, Inc. will post $3.24 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Wednesday, February 1st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Monday, January 30th. East West Bancorp’s dividend payout ratio is presently 26.94%.

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Several analysts have weighed in on the company. Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Wednesday, October 26th. Barclays PLC boosted their price target on East West Bancorp from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, December 6th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $62.00 price target on shares of East West Bancorp in a research note on Friday, January 27th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $51.40.

In other East West Bancorp news, insider Wendy H. Cai-Lee sold 1,782 shares of the firm’s stock in a transaction on Thursday, December 8th. The stock was sold at an average price of $50.41, for a total value of $89,830.62. Following the sale, the insider now directly owns 42,007 shares in the company, valued at $2,117,572.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.88% of the stock is owned by company insiders.

About East West Bancorp

East West Bancorp, Inc (East West) is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank operates through three segments: Retail Banking, Commercial Banking and Other. The Retail Banking segment focuses primarily on retail operations through the Bank’s branch network.

5 Day Chart for NASDAQ:EWBC

Want to see what other hedge funds are holding EWBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for East West Bancorp, Inc. (NASDAQ:EWBC).

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