QS Investors LLC Grows Stake in East West Bancorp, Inc. (EWBC)
QS Investors LLC lifted its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 0.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 108,663 shares of the financial services provider’s stock after buying an additional 11 shares during the quarter. QS Investors LLC owned approximately 0.08% of East West Bancorp worth $6,365,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in shares of East West Bancorp during the 2nd quarter worth $110,000. D.A. Davidson & CO. raised its stake in shares of East West Bancorp by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock worth $146,000 after buying an additional 26 shares during the last quarter. IFP Advisors Inc raised its stake in shares of East West Bancorp by 126.0% during the 2nd quarter. IFP Advisors Inc now owns 2,857 shares of the financial services provider’s stock worth $167,000 after buying an additional 1,593 shares during the last quarter. Keybank National Association OH acquired a new position in shares of East West Bancorp during the 2nd quarter worth $211,000. Finally, Eagle Global Advisors LLC acquired a new position in shares of East West Bancorp during the 2nd quarter worth $222,000. 90.48% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on EWBC. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $57.00 price target on shares of East West Bancorp in a research note on Tuesday. Zacks Investment Research downgraded East West Bancorp from a “buy” rating to a “sell” rating in a research note on Monday, September 25th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $63.00.
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In other news, Director Rudolph Estrada sold 1,916 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $55.97, for a total transaction of $107,238.52. Following the completion of the sale, the director now directly owns 15,475 shares of the company’s stock, valued at $866,135.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.88% of the company’s stock.
East West Bancorp, Inc. (EWBC) traded up 0.96% during mid-day trading on Friday, reaching $59.78. The company had a trading volume of 904,549 shares. The firm has a market capitalization of $8.64 billion, a P/E ratio of 17.08 and a beta of 1.43. East West Bancorp, Inc. has a 12 month low of $35.53 and a 12 month high of $60.42. The stock’s 50-day moving average is $55.78 and its 200 day moving average is $55.37.
East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.81 EPS for the quarter, meeting the consensus estimate of $0.81. East West Bancorp had a return on equity of 13.31% and a net margin of 34.63%. The business had revenue of $337.49 million during the quarter, compared to the consensus estimate of $329.32 million. During the same period in the prior year, the business posted $0.71 earnings per share. On average, analysts predict that East West Bancorp, Inc. will post $3.70 earnings per share for the current fiscal year.
About East West Bancorp
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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