AXA reduced its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,886 shares of the financial services provider’s stock after selling 13,672 shares during the quarter. AXA owned 0.06% of East West Bancorp worth $5,346,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. British Airways Pensions Investment Management Ltd grew its stake in East West Bancorp by 38.8% in the third quarter. British Airways Pensions Investment Management Ltd now owns 552,985 shares of the financial services provider’s stock valued at $33,049,000 after purchasing an additional 154,504 shares during the last quarter. Sei Investments Co. grew its stake in East West Bancorp by 18.1% in the third quarter. Sei Investments Co. now owns 111,518 shares of the financial services provider’s stock valued at $6,667,000 after purchasing an additional 17,107 shares during the last quarter. State of Tennessee Treasury Department grew its stake in East West Bancorp by 9.6% in the fourth quarter. State of Tennessee Treasury Department now owns 228,900 shares of the financial services provider’s stock valued at $13,924,000 after purchasing an additional 20,000 shares during the last quarter. Toronto Dominion Bank grew its stake in East West Bancorp by 39.5% in the fourth quarter. Toronto Dominion Bank now owns 8,515 shares of the financial services provider’s stock valued at $518,000 after purchasing an additional 2,413 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in East West Bancorp by 15.3% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 103,913 shares of the financial services provider’s stock valued at $6,212,000 after purchasing an additional 13,816 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.
In related news, CFO Irene H. Oh sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $68.29, for a total value of $341,450.00. Following the sale, the chief financial officer now owns 38,021 shares in the company, valued at $2,596,454.09. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $68.50, for a total value of $137,000.00. Following the completion of the transaction, the director now directly owns 21,599 shares of the company’s stock, valued at $1,479,531.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,461 shares of company stock worth $641,846. 0.88% of the stock is owned by insiders.
Several equities analysts have issued reports on the company. BidaskClub upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Sandler O’Neill reiterated a “buy” rating and issued a $69.00 target price on shares of East West Bancorp in a research note on Thursday, January 4th. Barclays lifted their target price on East West Bancorp from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Wells Fargo reiterated an “outperform” rating and issued a $72.00 target price (up previously from $65.00) on shares of East West Bancorp in a research note on Tuesday, January 9th. Finally, ValuEngine upgraded East West Bancorp from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. East West Bancorp currently has a consensus rating of “Buy” and a consensus price target of $70.08.
Shares of EWBC stock traded down $1.65 during trading hours on Friday, reaching $60.41. 1,093,488 shares of the company’s stock were exchanged, compared to its average volume of 1,189,702. East West Bancorp, Inc. has a 1 year low of $48.76 and a 1 year high of $69.25. The firm has a market capitalization of $8,970.40, a price-to-earnings ratio of 17.46, a PEG ratio of 1.34 and a beta of 1.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98.
East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, January 25th. The financial services provider reported $0.87 EPS for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.04). The firm had revenue of $365.06 million during the quarter, compared to analysts’ expectations of $359.43 million. East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. East West Bancorp’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. equities analysts forecast that East West Bancorp, Inc. will post 4.41 earnings per share for the current year.
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East West Bancorp Profile
East West Bancorp, Inc 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 is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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