California Public Employees Retirement System Raises Stock Position in East West Bancorp, Inc. $EWBC

California Public Employees Retirement System grew its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBCFree Report) by 8.0% in the first quarter, Holdings Channel.com reports. The fund owned 279,413 shares of the financial services provider’s stock after purchasing an additional 20,588 shares during the period. California Public Employees Retirement System’s holdings in East West Bancorp were worth $29,830,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its stake in East West Bancorp by 84,090.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider’s stock valued at $596,967,000 after purchasing an additional 5,305,257 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in East West Bancorp by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,981,065 shares of the financial services provider’s stock worth $559,822,000 after acquiring an additional 106,998 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of East West Bancorp by 7.1% in the fourth quarter. First Trust Advisors LP now owns 4,620,772 shares of the financial services provider’s stock valued at $519,329,000 after purchasing an additional 306,916 shares in the last quarter. Boston Partners lifted its holdings in shares of East West Bancorp by 19.6% in the third quarter. Boston Partners now owns 3,874,737 shares of the financial services provider’s stock valued at $412,464,000 after purchasing an additional 633,649 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in shares of East West Bancorp by 9.4% in the fourth quarter. Schroder Investment Management Group now owns 3,713,679 shares of the financial services provider’s stock valued at $423,619,000 after purchasing an additional 318,303 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

East West Bancorp Stock Performance

Shares of NASDAQ:EWBC opened at $133.40 on Wednesday. The business’s 50-day simple moving average is $127.49 and its 200 day simple moving average is $119.21. The company has a market cap of $18.28 billion, a P/E ratio of 13.33, a PEG ratio of 1.54 and a beta of 0.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. East West Bancorp, Inc. has a one year low of $92.67 and a one year high of $136.24.

East West Bancorp (NASDAQ:EWBCGet Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.02. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The firm had revenue of $791.14 million during the quarter, compared to analysts’ expectations of $784.47 million. During the same quarter in the prior year, the business earned $2.24 EPS. On average, sell-side analysts forecast that East West Bancorp, Inc. will post 10.56 earnings per share for the current fiscal year.

East West Bancorp News Summary

Here are the key news stories impacting East West Bancorp this week:

Insider Activity

In other news, CEO Dominic Ng sold 30,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $123.49, for a total value of $3,704,700.00. Following the completion of the sale, the chief executive officer owned 707,930 shares of the company’s stock, valued at approximately $87,422,275.70. The trade was a 4.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $123.50, for a total transaction of $1,235,000.00. Following the transaction, the insider directly owned 46,974 shares in the company, valued at $5,801,289. The trade was a 17.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 54,311 shares of company stock valued at $6,784,711. 0.94% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EWBC. Wall Street Zen cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Wells Fargo & Company increased their target price on East West Bancorp from $125.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Piper Sandler boosted their price target on East West Bancorp from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. TD Cowen upped their price objective on East West Bancorp from $137.00 to $143.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, Citigroup increased their price objective on East West Bancorp from $145.00 to $154.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $138.31.

View Our Latest Stock Analysis on EWBC

East West Bancorp Company Profile

(Free Report)

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.

See Also

Want to see what other hedge funds are holding EWBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for East West Bancorp, Inc. (NASDAQ:EWBCFree Report).

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

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