AMP Capital Investors Ltd grew its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 47.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,661 shares of the financial services provider’s stock after acquiring an additional 18,000 shares during the period. AMP Capital Investors Ltd’s holdings in East West Bancorp were worth $3,327,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strs Ohio bought a new stake in shares of East West Bancorp during the second quarter worth approximately $110,000. IFP Advisors Inc raised its stake in shares of East West Bancorp by 126.0% during the second quarter. IFP Advisors Inc now owns 2,857 shares of the financial services provider’s stock worth $167,000 after buying an additional 1,593 shares during the last quarter. Pictet Asset Management Ltd. bought a new stake in shares of East West Bancorp during the second quarter worth approximately $2,671,000. Canada Pension Plan Investment Board raised its stake in shares of East West Bancorp by 30.5% during the second quarter. Canada Pension Plan Investment Board now owns 69,300 shares of the financial services provider’s stock worth $4,060,000 after buying an additional 16,200 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of East West Bancorp by 4.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 580,977 shares of the financial services provider’s stock worth $34,034,000 after buying an additional 23,575 shares during the last quarter. 91.41% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of East West Bancorp from $61.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. SunTrust Banks restated a “buy” rating and set a $68.00 price objective on shares of East West Bancorp in a report on Wednesday, November 29th. Zacks Investment Research cut shares of East West Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Piper Jaffray Companies set a $74.00 price objective on shares of East West Bancorp and gave the company a “buy” rating in a report on Saturday, October 21st. Finally, BMO Capital Markets boosted their price objective on shares of East West Bancorp from $61.00 to $63.00 and gave the company a “market perform” rating in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $65.50.
East West Bancorp, Inc. (NASDAQ EWBC) opened at $60.69 on Monday. The stock has a market cap of $8,772.31, a P/E ratio of 18.17, a P/E/G ratio of 1.65 and a beta of 1.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.99 and a current ratio of 0.99. East West Bancorp, Inc. has a 1-year low of $48.07 and a 1-year high of $63.92.
East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.03. The firm had revenue of $348.97 million during the quarter, compared to analysts’ expectations of $349.28 million. East West Bancorp had a net margin of 34.75% and a return on equity of 13.51%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 earnings per share. equities analysts forecast that East West Bancorp, Inc. will post 3.49 EPS for the current year.
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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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