BB&T Securities LLC grew its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 10.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,890 shares of the financial services provider’s stock after acquiring an additional 4,935 shares during the period. BB&T Securities LLC’s holdings in East West Bancorp were worth $3,448,000 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. Itau Unibanco Holding S.A. bought a new position in shares of East West Bancorp in the second quarter worth about $108,000. Contravisory Investment Management Inc. bought a new position in shares of East West Bancorp in the second quarter worth about $131,000. Atria Investments LLC bought a new position in shares of East West Bancorp in the second quarter worth about $206,000. Raymond James Trust N.A. bought a new position in shares of East West Bancorp in the second quarter worth about $220,000. Finally, Delpha Capital Management LLC bought a new position in shares of East West Bancorp in the first quarter worth about $222,000. 88.85% of the stock is owned by institutional investors.
EWBC has been the subject of a number of recent research reports. Zacks Investment Research raised shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Wednesday, June 20th. BidaskClub downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, June 1st. ValuEngine downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, June 11th. Barclays dropped their price target on shares of East West Bancorp from $78.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday, July 20th. Finally, Keefe, Bruyette & Woods raised shares of East West Bancorp from a “market perform” rating to an “outperform” rating and set a $41.00 price target for the company in a research note on Friday, July 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. East West Bancorp currently has a consensus rating of “Hold” and an average price target of $71.77.
EWBC opened at $61.68 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The company has a market cap of $9.15 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 1.30 and a beta of 1.33. East West Bancorp, Inc. has a fifty-two week low of $55.23 and a fifty-two week high of $73.98.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Thursday, July 19th. The financial services provider reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.09. The business had revenue of $389.95 million during the quarter, compared to the consensus estimate of $382.70 million. East West Bancorp had a net margin of 34.15% and a return on equity of 15.12%. East West Bancorp’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 earnings per share. equities research analysts anticipate that East West Bancorp, Inc. will post 4.61 earnings per share for the current fiscal year.
In related news, CEO Dominic Ng sold 5,770 shares of the business’s stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $70.11, for a total transaction of $404,534.70. Following the completion of the transaction, the chief executive officer now owns 413,012 shares in the company, valued at $28,956,271.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 17,310 shares of company stock valued at $1,208,757. Corporate insiders own 0.88% of the company’s stock.
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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