Crossmark Global Holdings Inc. increased its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,171 shares of the financial services provider’s stock after acquiring an additional 336 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in East West Bancorp were worth $974,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the company. Covestor Ltd raised its stake in East West Bancorp by 7.4% during the third quarter. Covestor Ltd now owns 1,537 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 106 shares during the period. Lindenwold Advisors INC increased its holdings in shares of East West Bancorp by 1.8% during the 3rd quarter. Lindenwold Advisors INC now owns 7,270 shares of the financial services provider’s stock worth $602,000 after buying an additional 129 shares during the last quarter. US Bancorp DE raised its position in shares of East West Bancorp by 7.8% during the 3rd quarter. US Bancorp DE now owns 1,949 shares of the financial services provider’s stock valued at $161,000 after buying an additional 141 shares during the period. 180 Wealth Advisors LLC lifted its holdings in East West Bancorp by 1.2% in the fourth quarter. 180 Wealth Advisors LLC now owns 11,617 shares of the financial services provider’s stock valued at $1,112,000 after acquiring an additional 143 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its position in East West Bancorp by 1.5% in the third quarter. EP Wealth Advisors LLC now owns 9,689 shares of the financial services provider’s stock worth $802,000 after acquiring an additional 146 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.
Analyst Upgrades and Downgrades
EWBC has been the topic of a number of research analyst reports. Wedbush lifted their target price on East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. StockNews.com cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Friday. Compass Point lifted their price target on shares of East West Bancorp from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. UBS Group began coverage on shares of East West Bancorp in a report on Tuesday, December 17th. They issued a “neutral” rating and a $112.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on shares of East West Bancorp from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $110.23.
Insider Activity at East West Bancorp
In related news, Director Rudolph Estrada sold 469 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total value of $45,980.76. Following the transaction, the director now owns 17,750 shares of the company’s stock, valued at $1,740,210. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Molly Campbell sold 1,500 shares of East West Bancorp stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $98.65, for a total value of $147,975.00. Following the sale, the director now directly owns 10,639 shares of the company’s stock, valued at $1,049,537.35. This trade represents a 12.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,969 shares of company stock valued at $2,458,276 over the last 90 days. 1.04% of the stock is owned by corporate insiders.
East West Bancorp Stock Down 0.6 %
Shares of NASDAQ EWBC opened at $102.93 on Friday. East West Bancorp, Inc. has a 12-month low of $67.27 and a 12-month high of $113.95. The stock has a market cap of $14.27 billion, a P/E ratio of 13.00, a PEG ratio of 2.85 and a beta of 1.30. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $101.30 and its 200-day simple moving average is $91.05.
East West Bancorp (NASDAQ:EWBC – Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $641.80 million. During the same quarter last year, the business posted $2.02 EPS. As a group, equities analysts predict that East West Bancorp, Inc. will post 8.38 EPS for the current fiscal year.
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 businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.
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