Atria Investments LLC lifted its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 100.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,332 shares of the financial services provider’s stock after buying an additional 3,171 shares during the quarter. Atria Investments LLC’s holdings in East West Bancorp were worth $382,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of EWBC. Itau Unibanco Holding S.A. purchased a new stake in shares of East West Bancorp during the 2nd quarter worth $108,000. Contravisory Investment Management Inc. purchased a new stake in shares of East West Bancorp during the 2nd quarter worth $131,000. Raymond James Trust N.A. purchased a new stake in shares of East West Bancorp during the 2nd quarter worth $220,000. Qube Research & Technologies Ltd purchased a new stake in shares of East West Bancorp during the 2nd quarter worth $250,000. Finally, IFM Investors Pty Ltd purchased a new stake in shares of East West Bancorp during the 2nd quarter worth $283,000. 88.78% of the stock is currently owned by institutional investors and hedge funds.
East West Bancorp stock opened at $53.84 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.01 and a quick ratio of 1.00. East West Bancorp, Inc. has a one year low of $53.28 and a one year high of $73.98. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.11 and a beta of 1.31.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.03. East West Bancorp had a return on equity of 15.70% and a net margin of 34.80%. The company had revenue of $395.22 million during the quarter, compared to analysts’ expectations of $398.25 million. During the same period last year, the business posted $0.91 earnings per share. As a group, equities analysts predict that East West Bancorp, Inc. will post 4.61 earnings per share for the current year.
A number of equities research analysts recently weighed in on EWBC shares. Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Tuesday, September 18th. Piper Jaffray Companies set a $82.00 price objective on East West Bancorp and gave the stock a “buy” rating in a research note on Thursday, July 19th. Wells Fargo & Co set a $76.00 price objective on East West Bancorp and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. Morgan Stanley upped their price objective on East West Bancorp from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 24th. Finally, Keefe, Bruyette & Woods upgraded East West Bancorp from a “market perform” rating to an “outperform” rating and set a $41.00 price objective for the company in a research note on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $71.67.
East West Bancorp Company 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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