Shelton Capital Management Sells 268 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Shelton Capital Management lessened its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 3.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,948 shares of the financial services provider’s stock after selling 268 shares during the period. Shelton Capital Management’s holdings in East West Bancorp were worth $367,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Harbor Capital Advisors Inc. bought a new stake in East West Bancorp during the second quarter worth about $43,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of East West Bancorp in the 4th quarter worth approximately $53,000. Tobam bought a new position in East West Bancorp during the 2nd quarter valued at approximately $56,000. Ellevest Inc. raised its stake in East West Bancorp by 56.9% during the first quarter. Ellevest Inc. now owns 1,026 shares of the financial services provider’s stock valued at $57,000 after buying an additional 372 shares during the last quarter. Finally, Archer Investment Corp bought a new stake in East West Bancorp in the first quarter worth $64,000. 87.11% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Stock Down 1.2 %

East West Bancorp stock opened at $61.66 on Tuesday. East West Bancorp, Inc. has a one year low of $33.86 and a one year high of $80.98. The stock has a fifty day moving average of $54.23 and a 200 day moving average of $54.02. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $8.69 billion, a PE ratio of 6.96, a price-to-earnings-growth ratio of 0.73 and a beta of 1.41.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $2.02 EPS for the quarter, meeting the consensus estimate of $2.02. The firm had revenue of $648.00 million during the quarter, compared to analyst estimates of $643.22 million. East West Bancorp had a net margin of 33.62% and a return on equity of 19.98%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.08 EPS. As a group, sell-side analysts predict that East West Bancorp, Inc. will post 8.45 EPS for the current year.

East West Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Tuesday, October 31st. East West Bancorp’s payout ratio is 21.67%.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Rudolph Estrada sold 2,411 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $55.96, for a total transaction of $134,919.56. Following the completion of the sale, the director now owns 18,548 shares of the company’s stock, valued at $1,037,946.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.91% of the stock is currently owned by company insiders.

Analyst Ratings Changes

EWBC has been the subject of several recent analyst reports. Wedbush raised East West Bancorp from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $57.00 to $69.00 in a research report on Friday, November 3rd. UBS Group increased their price target on shares of East West Bancorp from $61.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Bank of America decreased their price objective on shares of East West Bancorp from $75.00 to $74.00 in a report on Tuesday, October 10th. Jefferies Financial Group reduced their target price on East West Bancorp from $68.00 to $58.00 in a report on Tuesday, October 10th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $56.00 price target on shares of East West Bancorp in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.22.

East West Bancorp 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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. It accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.