Clark Capital Management Group Inc. raised its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 14.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 332,953 shares of the financial services provider’s stock after buying an additional 42,998 shares during the period. Clark Capital Management Group Inc. owned about 0.23% of East West Bancorp worth $20,254,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. National Pension Service bought a new position in shares of East West Bancorp in the 4th quarter valued at about $116,000. Contravisory Investment Management Inc. acquired a new stake in East West Bancorp during the fourth quarter worth approximately $129,000. Field & Main Bank acquired a new stake in East West Bancorp during the fourth quarter worth approximately $146,000. Advisor Partners LLC acquired a new stake in shares of East West Bancorp in the fourth quarter valued at approximately $213,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of East West Bancorp in the fourth quarter valued at approximately $217,000. 91.69% of the stock is currently owned by institutional investors.
Several brokerages have commented on EWBC. UBS started coverage on shares of East West Bancorp in a research report on Thursday, March 22nd. They set a “buy” rating and a $77.00 price objective for the company. BidaskClub cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, March 16th. Zacks Investment Research cut shares of East West Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Deutsche Bank upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, February 6th. Finally, ValuEngine upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $70.08.
In other news, Director Molly Campbell sold 461 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $65.11, for a total transaction of $30,015.71. Following the completion of the transaction, the director now directly owns 5,448 shares of the company’s stock, valued at $354,719.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $137,000.00. Following the sale, the director now owns 21,599 shares of the company’s stock, valued at $1,479,531.50. The disclosure for this sale can be found here. Insiders sold 9,461 shares of company stock valued at $641,846 over the last ninety days. Corporate insiders own 0.88% of the company’s stock.
NASDAQ:EWBC traded down $1.65 during trading hours on Friday, reaching $60.41. The company’s stock had a trading volume of 1,093,488 shares, compared to its average volume of 962,286. The stock has a market cap of $8,981.96, a PE ratio of 18.01, a PEG ratio of 1.34 and a beta of 1.42. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. East West Bancorp, Inc. has a 1 year low of $48.76 and a 1 year high of $69.25.
East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.04). East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. The company had revenue of $365.06 million for the quarter, compared to the consensus estimate of $359.43 million. During the same period in the previous year, the firm posted $0.76 EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. sell-side analysts anticipate that East West Bancorp, Inc. will post 4.41 EPS for the current year.
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East West Bancorp Company 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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