Dimensional Fund Advisors LP cut its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 6.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,122,630 shares of the financial services provider’s stock after selling 75,154 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.78% of East West Bancorp worth $65,764,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. UBS Asset Management Americas Inc. grew its position in East West Bancorp by 19.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 87,556 shares of the financial services provider’s stock worth $4,519,000 after purchasing an additional 13,968 shares during the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in East West Bancorp in the 1st quarter worth $1,251,000. United Services Automobile Association acquired a new stake in East West Bancorp in the 1st quarter worth $591,000. Wellington Management Group LLP grew its position in East West Bancorp by 1.5% in the 1st quarter. Wellington Management Group LLP now owns 1,022,237 shares of the financial services provider’s stock worth $52,757,000 after purchasing an additional 15,203 shares during the last quarter. Finally, Laurion Capital Management LP acquired a new stake in East West Bancorp in the 1st quarter worth $346,000. Institutional investors and hedge funds own 90.48% of the company’s stock.
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In other news, Director Rudolph Estrada sold 1,916 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $55.97, for a total value of $107,238.52. Following the completion of the transaction, the director now owns 15,475 shares of the company’s stock, valued at $866,135.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.
Several analysts have issued reports on EWBC shares. Zacks Investment Research lowered shares of East West Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. Morgan Stanley restated an “equal weight” rating and issued a $60.00 price target (up from $59.00) on shares of East West Bancorp in a research report on Thursday, July 6th. Deutsche Bank AG lowered shares of East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 price target on the stock. in a research report on Friday, July 14th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $57.00 price target on shares of East West Bancorp in a research report on Friday, June 23rd. Finally, BMO Capital Markets lowered shares of East West Bancorp from an “outperform” rating to a “market perform” rating and set a $63.00 price target on the stock. in a research report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. East West Bancorp currently has an average rating of “Hold” and a consensus target price of $63.33.
Shares of East West Bancorp, Inc. (NASDAQ:EWBC) opened at 59.52 on Friday. The firm has a market cap of $8.60 billion, a PE ratio of 17.00 and a beta of 1.46. East West Bancorp, Inc. has a 52-week low of $38.12 and a 52-week high of $60.74. The firm has a 50-day moving average of $57.08 and a 200 day moving average of $56.00.
East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.81 EPS for the quarter, hitting analysts’ consensus estimates of $0.81. The firm had revenue of $337.49 million during the quarter, compared to analysts’ expectations of $329.32 million. East West Bancorp had a net margin of 35.06% and a return on equity of 13.12%. During the same quarter in the prior year, the business earned $0.71 earnings per share. On average, equities analysts predict that East West Bancorp, Inc. will post $3.71 earnings per share for the current year.
About East West Bancorp
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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