East West Bancorp, Inc. (EWBC) Shares Sold by Sii Investments Inc. WI
Sii Investments Inc. WI cut its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 18.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,693 shares of the financial services provider’s stock after selling 2,264 shares during the period. Sii Investments Inc. WI’s holdings in East West Bancorp were worth $569,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in East West Bancorp by 156.1% during the 2nd quarter. Royal Bank of Canada now owns 72,735 shares of the financial services provider’s stock worth $4,260,000 after acquiring an additional 44,336 shares during the last quarter. Stifel Financial Corp grew its position in East West Bancorp by 4.1% during the 2nd quarter. Stifel Financial Corp now owns 16,173 shares of the financial services provider’s stock worth $945,000 after acquiring an additional 633 shares during the last quarter. Bayesian Capital Management LP bought a new stake in East West Bancorp during the 2nd quarter worth approximately $405,000. Virtu KCG Holdings LLC grew its position in East West Bancorp by 50.9% during the 2nd quarter. Virtu KCG Holdings LLC now owns 21,742 shares of the financial services provider’s stock worth $1,274,000 after acquiring an additional 7,331 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in East West Bancorp by 12.0% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 211,907 shares of the financial services provider’s stock worth $12,414,000 after acquiring an additional 22,742 shares during the last quarter. Institutional investors and hedge funds own 90.48% of the company’s stock.
East West Bancorp, Inc. (EWBC) traded up 0.65% on Friday, reaching $60.06. The company’s stock had a trading volume of 61,041 shares. East West Bancorp, Inc. has a 12 month low of $37.75 and a 12 month high of $60.74. The firm’s 50 day moving average is $56.35 and its 200-day moving average is $55.68. The firm has a market cap of $8.68 billion, a P/E ratio of 17.16 and a beta of 1.46.
East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. The firm had revenue of $337.49 million for the quarter, compared to analysts’ expectations of $329.32 million. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. During the same quarter in the previous year, the firm posted $0.71 earnings per share. On average, equities research analysts anticipate that East West Bancorp, Inc. will post $3.71 EPS for the current year.
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A number of equities research analysts recently commented on the company. Raymond James Financial, Inc. upgraded East West Bancorp from an “underperform” rating to a “market perform” rating in a research report on Thursday. BMO Capital Markets restated a “hold” rating and set a $61.00 price target on shares of East West Bancorp in a research report on Thursday. Morgan Stanley restated an “equal weight” rating and set a $63.00 price target (up from $61.00) on shares of East West Bancorp in a research report on Wednesday. Keefe, Bruyette & Woods restated a “hold” rating and set a $57.00 price target on shares of East West Bancorp in a research report on Tuesday, September 26th. Finally, Zacks Investment Research lowered East West Bancorp from a “buy” rating to a “sell” rating in a research report on Monday, September 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $63.13.
In other East West Bancorp news, Director Rudolph Estrada sold 1,916 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $55.97, for a total transaction of $107,238.52. Following the sale, the director now owns 15,475 shares of the company’s stock, valued at $866,135.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.88% of the company’s stock.
East West Bancorp 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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