Teachers Advisors LLC trimmed its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 10.2% in the 4th quarter, HoldingsChannel reports. The firm owned 808,343 shares of the financial services provider’s stock after selling 91,762 shares during the period. Teachers Advisors LLC’s holdings in East West Bancorp were worth $49,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently bought and sold shares of the company. National Pension Service purchased a new stake in shares of East West Bancorp in the 4th quarter worth $116,000. Contravisory Investment Management Inc. purchased a new stake in East West Bancorp in the 4th quarter worth $129,000. Field & Main Bank purchased a new stake in East West Bancorp in the 4th quarter worth $146,000. Advisor Partners LLC purchased a new stake in East West Bancorp in the 4th quarter worth $213,000. Finally, YHB Investment Advisors Inc. purchased a new stake in East West Bancorp in the 4th quarter worth $217,000. Hedge funds and other institutional investors own 91.66% of the company’s stock.
East West Bancorp stock opened at $65.66 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. East West Bancorp, Inc. has a 1-year low of $48.07 and a 1-year high of $69.25. The company has a market cap of $9,490.76, a PE ratio of 18.98, a P/E/G ratio of 1.42 and a beta of 1.40.
A number of research analysts have recently weighed in on EWBC shares. BidaskClub upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Sandler O’Neill restated a “buy” rating and set a $69.00 price objective on shares of East West Bancorp in a research report on Thursday, January 4th. Barclays raised their price objective on East West Bancorp from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Wells Fargo restated an “outperform” rating and set a $72.00 price objective (up previously from $65.00) on shares of East West Bancorp in a research report on Tuesday, January 9th. Finally, ValuEngine upgraded East West Bancorp from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $69.50.
In other East West Bancorp news, insider Douglas Paul Krause sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $61.26, for a total value of $306,300.00. Following the completion of the sale, the insider now owns 18,015 shares of the company’s stock, valued at $1,103,598.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Iris S. Chan sold 2,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $66.69, for a total transaction of $133,380.00. Following the completion of the sale, the director now directly owns 20,301 shares of the company’s stock, valued at approximately $1,353,873.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,000 shares of company stock valued at $918,130. 0.88% of the stock is owned by insiders.
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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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