Wellington Management Group LLP increased its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 1.5% during the first quarter, Holdings Channel reports. The institutional investor owned 1,022,237 shares of the financial services provider’s stock after buying an additional 15,203 shares during the period. Wellington Management Group LLP owned about 0.71% of East West Bancorp worth $52,757,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in East West Bancorp during the fourth quarter valued at approximately $13,531,000. Cadence Capital Management LLC bought a new stake in East West Bancorp during the fourth quarter valued at approximately $273,000. Comerica Bank raised its stake in East West Bancorp by 6.1% in the fourth quarter. Comerica Bank now owns 107,754 shares of the financial services provider’s stock valued at $5,517,000 after buying an additional 6,175 shares in the last quarter. State Street Corp raised its stake in East West Bancorp by 5.4% in the fourth quarter. State Street Corp now owns 5,894,892 shares of the financial services provider’s stock valued at $299,635,000 after buying an additional 302,139 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in East West Bancorp by 4.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 14,226 shares of the financial services provider’s stock valued at $723,000 after buying an additional 608 shares in the last quarter. Institutional investors and hedge funds own 88.01% of the company’s stock.

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

Shares of East West Bancorp, Inc. (NASDAQ:EWBC) traded up 0.37% on Friday, hitting $59.15. The stock had a trading volume of 2,244,723 shares. The stock has a market cap of $8.54 billion, a P/E ratio of 17.44 and a beta of 1.42. East West Bancorp, Inc. has a 12 month low of $31.34 and a 12 month high of $59.78. The firm has a 50 day moving average of $55.68 and a 200 day moving average of $52.86.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.14. East West Bancorp had a return on equity of 13.24% and a net margin of 34.72%. The firm had revenue of $388.15 million for the quarter, compared to the consensus estimate of $314.52 million. During the same period in the previous year, the business earned $0.71 earnings per share. On average, equities analysts forecast that East West Bancorp, Inc. will post $3.69 earnings per share for the current fiscal year.

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Several equities research analysts have commented on EWBC shares. Citigroup Inc. lowered East West Bancorp to an “underperform” rating in a research report on Thursday, March 16th. They noted that the move was a valuation call. Raymond James Financial, Inc. restated an “underperform” rating on shares of East West Bancorp in a research report on Thursday, March 16th. BMO Capital Markets restated a “buy” rating and issued a $63.00 price objective on shares of East West Bancorp in a research report on Wednesday, March 22nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $56.00 price objective on shares of East West Bancorp in a research report on Wednesday, April 5th. Finally, Zacks Investment Research lowered East West Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, April 6th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. East West Bancorp has an average rating of “Hold” and an average price target of $58.57.

In related news, Director Molly Campbell sold 590 shares of East West Bancorp stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $55.93, for a total value of $32,998.70. Following the sale, the director now directly owns 3,903 shares in the company, valued at $218,294.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Dominic Ng sold 26,200 shares of East West Bancorp stock in a transaction that occurred on Tuesday, March 28th. The shares were sold at an average price of $51.00, for a total value of $1,336,200.00. Following the completion of the sale, the chief executive officer now owns 596,157 shares in the company, valued at $30,404,007. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 162,713 shares of company stock worth $8,560,964. Company insiders own 0.88% of the company’s stock.

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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