CIBC World Markets Inc. bought a new stake in East West Bancorp, Inc. (NASDAQ:EWBC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,945 shares of the financial services provider’s stock, valued at approximately $685,000.
A number of other large investors also recently added to or reduced their stakes in EWBC. Wells Fargo & Company MN lifted its stake in East West Bancorp by 22.9% in the fourth 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 period. Arrowstreet Capital Limited Partnership lifted its stake in East West Bancorp by 322.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 24,900 shares of the financial services provider’s stock valued at $1,515,000 after buying an additional 19,000 shares during the period. Amalgamated Bank lifted its stake in East West Bancorp by 5.9% in the fourth quarter. Amalgamated Bank now owns 29,125 shares of the financial services provider’s stock valued at $1,772,000 after buying an additional 1,632 shares during the period. Burney Co. acquired a new position in East West Bancorp in the fourth quarter valued at about $344,000. Finally, WINTON GROUP Ltd acquired a new position in East West Bancorp in the fourth quarter valued at about $3,444,000. 89.75% of the stock is currently owned by hedge funds and other institutional investors.
East West Bancorp opened at $65.68 on Tuesday, according to Marketbeat Ratings. The stock has a market cap of $9.45 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. East West Bancorp, Inc. has a one year low of $52.86 and a one year high of $73.98.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, April 19th. The financial services provider reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.13. The company had revenue of $401.14 million for the quarter, compared to analyst estimates of $364.81 million. East West Bancorp had a return on equity of 14.15% and a net margin of 32.46%. During the same quarter last year, the firm posted $0.88 earnings per share. research analysts anticipate that East West Bancorp, Inc. will post 4.55 earnings per share for the current fiscal year.
Several equities analysts have weighed in on the company. BidaskClub raised East West Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 8th. ValuEngine lowered East West Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, June 11th. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research report on Wednesday, June 20th. Deutsche Bank raised their price target on East West Bancorp from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, May 4th. Finally, Morgan Stanley raised their price target on East West Bancorp from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $72.92.
In related news, insider Douglas Paul Krause sold 5,000 shares of the stock in a transaction dated Thursday, May 31st. The stock was sold at an average price of $69.65, for a total transaction of $348,250.00. Following the completion of the transaction, the insider now directly owns 19,919 shares in the company, valued at $1,387,358.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Molly Campbell sold 550 shares of the stock in a transaction dated Thursday, May 3rd. The stock was sold at an average price of $67.00, for a total value of $36,850.00. Following the transaction, the director now owns 4,898 shares of the company’s stock, valued at $328,166. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,785 shares of company stock valued at $10,222,156. 0.68% of the stock is owned by corporate insiders.
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 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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