Teachers Retirement System of The State of Kentucky lessened its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 2.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,278 shares of the financial services provider’s stock after selling 1,600 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in East West Bancorp were worth $3,296,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EWBC. US Bancorp DE lifted its stake in shares of East West Bancorp by 24.6% in the 1st quarter. US Bancorp DE now owns 9,873 shares of the financial services provider’s stock valued at $510,000 after acquiring an additional 1,949 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of East West Bancorp by 19.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 87,556 shares of the financial services provider’s stock valued at $4,519,000 after acquiring an additional 13,968 shares during the last quarter. Sei Investments Co. lifted its stake in shares of East West Bancorp by 19.1% in the 1st quarter. Sei Investments Co. now owns 68,008 shares of the financial services provider’s stock valued at $3,510,000 after acquiring an additional 10,922 shares during the last quarter. TD Asset Management Inc. lifted its stake in shares of East West Bancorp by 2.4% in the 1st quarter. TD Asset Management Inc. now owns 21,686 shares of the financial services provider’s stock valued at $1,119,000 after acquiring an additional 500 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of East West Bancorp by 40.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 189,165 shares of the financial services provider’s stock valued at $9,763,000 after acquiring an additional 54,290 shares during the last quarter. 90.48% of the stock is owned by institutional investors.

East West Bancorp, Inc. (NASDAQ:EWBC) opened at 59.78 on Friday. The firm’s 50 day moving average price is $55.78 and its 200-day moving average price is $55.37. The stock has a market cap 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.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. The firm had revenue of $337.49 million during the quarter, compared to the consensus estimate of $329.32 million. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Equities research analysts anticipate that East West Bancorp, Inc. will post $3.70 earnings per share for the current fiscal year.

In other news, Director Rudolph Estrada sold 1,916 shares of East West Bancorp stock in a transaction that occurred 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 completion of 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.

A number of research firms have recently weighed in 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 report on Tuesday. Deutsche Bank AG lowered East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 price target for the company. in a research report on Friday, July 14th. Morgan Stanley upped their price target on East West Bancorp from $57.00 to $59.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 6th. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Monday, July 31st. Finally, BidaskClub lowered East West Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Four analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $63.00.

ILLEGAL ACTIVITY NOTICE: This article was originally published by Watch List News and is the property of of Watch List News. If you are reading this article on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright law. The legal version of this article can be viewed at https://www.watchlistnews.com/teachers-retirement-system-of-the-state-of-kentucky-sells-1600-shares-of-east-west-bancorp-inc-ewbc/1598642.html.

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.

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:EWBC).

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

Receive News & Ratings for East West Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.