Andra AP fonden purchased a new position in East West Bancorp, Inc. (NASDAQ:EWBC) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 68,500 shares of the financial services provider’s stock, valued at approximately $4,466,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Marietta Investment Partners LLC increased its position in East West Bancorp by 0.8% in the 2nd quarter. Marietta Investment Partners LLC now owns 96,624 shares of the financial services provider’s stock worth $6,300,000 after buying an additional 772 shares during the period. MetLife Investment Advisors LLC increased its position in East West Bancorp by 1.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 91,068 shares of the financial services provider’s stock worth $5,938,000 after buying an additional 865 shares during the period. BB&T Securities LLC increased its position in East West Bancorp by 2.0% in the 1st quarter. BB&T Securities LLC now owns 47,955 shares of the financial services provider’s stock worth $2,999,000 after buying an additional 932 shares during the period. Xact Kapitalforvaltning AB increased its position in East West Bancorp by 2.3% in the 1st quarter. Xact Kapitalforvaltning AB now owns 41,367 shares of the financial services provider’s stock worth $2,587,000 after buying an additional 936 shares during the period. Finally, People s United Financial Inc. bought a new position in East West Bancorp in the 2nd quarter worth approximately $18,147,000. 88.83% of the stock is currently owned by institutional investors.

EWBC opened at $60.99 on Thursday. The company has a market cap of $8.98 billion, a PE ratio of 17.91, a PEG ratio of 1.28 and a beta of 1.33. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. East West Bancorp, Inc. has a 1 year low of $55.97 and a 1 year high of $73.98.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Thursday, July 19th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.09. The business had revenue of $389.95 million for the quarter, compared to analysts’ expectations of $382.70 million. East West Bancorp had a return on equity of 15.12% and a net margin of 34.15%. East West Bancorp’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 earnings per share. research analysts predict that East West Bancorp, Inc. will post 4.61 earnings per share for the current year.

A number of analysts have recently issued reports on the company. BidaskClub cut East West Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 7th. Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Tuesday, September 18th. Morgan Stanley boosted their price objective on East West Bancorp from $74.00 to $75.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 24th. Piper Jaffray Companies set a $82.00 price objective on East West Bancorp and gave the company a “buy” rating in a research report on Thursday, July 19th. Finally, Barclays lowered their price objective on East West Bancorp from $78.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $71.38.

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

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