Private Capital Group LLC Sells 715 Shares of East West Bancorp, Inc. (EWBC)

Private Capital Group LLC reduced its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 28.2% in the first quarter, Holdings Channel reports. The institutional investor owned 1,819 shares of the financial services provider’s stock after selling 715 shares during the quarter. Private Capital Group LLC’s holdings in East West Bancorp were worth $114,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of EWBC. US Bancorp DE raised its holdings in East West Bancorp by 62.2% during the 4th quarter. US Bancorp DE now owns 10,230 shares of the financial services provider’s stock valued at $622,000 after buying an additional 3,923 shares during the last quarter. KBC Group NV raised its holdings in East West Bancorp by 46.3% during the 4th quarter. KBC Group NV now owns 16,081 shares of the financial services provider’s stock valued at $978,000 after buying an additional 5,092 shares during the last quarter. Sei Investments Co. raised its holdings in East West Bancorp by 40.8% during the 4th quarter. Sei Investments Co. now owns 157,036 shares of the financial services provider’s stock valued at $9,553,000 after buying an additional 45,518 shares during the last quarter. Wells Fargo & Company MN raised its holdings in East West Bancorp by 22.9% during the 4th quarter. Wells Fargo & Company MN now owns 229,809 shares of the financial services provider’s stock valued at $13,979,000 after buying an additional 42,880 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in East West Bancorp by 39.5% during the 4th quarter. Toronto Dominion Bank now owns 8,515 shares of the financial services provider’s stock valued at $518,000 after buying an additional 2,413 shares during the last quarter. Institutional investors own 89.72% of the company’s stock.

A number of research firms recently commented on EWBC. Zacks Investment Research upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Wednesday. ValuEngine lowered shares of East West Bancorp from a “buy” rating to a “hold” rating in a report on Monday, June 11th. BidaskClub upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 8th. Deutsche Bank upped their price target on shares of East West Bancorp from $74.00 to $76.00 and gave the company a “hold” rating in a report on Friday, May 4th. Finally, Morgan Stanley upped their price target on shares of East West Bancorp from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, April 24th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. East West Bancorp presently has an average rating of “Buy” and an average target price of $72.92.

Shares of East West Bancorp stock opened at $69.07 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. The firm has a market cap of $10.14 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 1.47 and a beta of 1.41. East West Bancorp, Inc. has a 12-month low of $52.86 and a 12-month high of $73.98.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, April 19th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.13. The business had revenue of $401.14 million for the quarter, compared to the consensus estimate of $364.81 million. East West Bancorp had a net margin of 32.46% and a return on equity of 14.15%. During the same period in the previous year, the firm earned $0.88 EPS. analysts forecast that East West Bancorp, Inc. will post 4.55 earnings per share for the current year.

In other news, Director Molly Campbell sold 356 shares of the company’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $70.36, for a total value of $25,048.16. Following the sale, the director now directly owns 4,127 shares of the company’s stock, valued at approximately $290,375.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dominic Ng sold 5,771 shares of the company’s stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $67.23, for a total transaction of $387,984.33. Following the completion of the sale, the chief executive officer now directly owns 539,871 shares in the company, valued at $36,295,527.33. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,015 shares of company stock worth $9,820,506. Insiders own 0.88% of the company’s stock.

About East West Bancorp

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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.

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

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