East West Bancorp, Inc. (EWBC) Shares Sold by Credit Agricole S A

Credit Agricole S A decreased its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 34.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,454 shares of the financial services provider’s stock after selling 12,595 shares during the period. Credit Agricole S A’s holdings in East West Bancorp were worth $1,262,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of EWBC. Raymond James Financial Services Advisors Inc. raised its position in shares of East West Bancorp by 4.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 14,226 shares of the financial services provider’s stock valued at $723,000 after buying an additional 608 shares during the period. Marshall Wace LLP bought a new position in shares of East West Bancorp during the fourth quarter valued at approximately $2,312,000. Asset Management One Co. Ltd. bought a new position in shares of East West Bancorp during the fourth quarter valued at approximately $1,573,000. Cantab Capital Partners LLP bought a new position in shares of East West Bancorp during the fourth quarter valued at approximately $366,000. Finally, Menta Capital LLC bought a new position in shares of East West Bancorp during the fourth quarter valued at approximately $427,000. 87.57% of the stock is owned by hedge funds and other institutional investors.

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

Shares of East West Bancorp, Inc. (EWBC) opened at 56.21 on Friday. The firm’s 50-day moving average is $55.88 and its 200 day moving average is $53.08. The stock has a market capitalization of $8.12 billion, a P/E ratio of 16.58 and a beta of 1.42. East West Bancorp, Inc. has a 1-year low of $31.34 and a 1-year high of $59.97.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Wednesday, April 19th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.14. The firm had revenue of $388.15 million for the quarter, compared to analyst estimates of $314.52 million. East West Bancorp had a net margin of 34.72% and a return on equity of 13.24%. During the same quarter last year, the firm earned $0.71 earnings per share. On average, analysts expect that East West Bancorp, Inc. will post $3.69 EPS for the current fiscal year.

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EWBC has been the subject of several research reports. Citigroup Inc. downgraded shares of East West Bancorp to an “underperform” rating in a research note on Thursday, March 16th. They noted that the move was a valuation call. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of East West Bancorp in a research note on Thursday, March 16th. BMO Capital Markets reiterated a “buy” rating and set a $63.00 price objective on shares of East West Bancorp in a research note on Wednesday, March 22nd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $56.00 price objective on shares of East West Bancorp in a research note on Wednesday, April 5th. Finally, Zacks Investment Research downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, April 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $59.43.

In related news, Director Molly Campbell sold 590 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $55.93, for a total transaction of $32,998.70. Following the transaction, the director now owns 3,903 shares of the company’s stock, valued at $218,294.79. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Dominic Ng sold 26,200 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $51.15, for a total transaction of $1,340,130.00. Following the transaction, the chief executive officer now directly owns 569,957 shares in the company, valued at approximately $29,153,300.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,513 shares of company stock worth $7,144,068. Insiders own 0.88% of the company’s stock.

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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