UBS Asset Management Americas Inc. Purchases 8,420 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

UBS Asset Management Americas Inc. boosted its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 420,492 shares of the financial services provider’s stock after purchasing an additional 8,420 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.29% of East West Bancorp worth $19,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Jane Street Group LLC bought a new stake in East West Bancorp in the second quarter worth about $1,461,000. Marshall Wace LLP bought a new stake in East West Bancorp in the second quarter worth about $6,661,000. Bank of America Corp DE raised its stake in shares of East West Bancorp by 15.5% during the second quarter. Bank of America Corp DE now owns 1,600,922 shares of the financial services provider’s stock valued at $74,876,000 after acquiring an additional 215,230 shares in the last quarter. Marshall Wace North America L.P. raised its stake in shares of East West Bancorp by 66.4% during the second quarter. Marshall Wace North America L.P. now owns 165,115 shares of the financial services provider’s stock valued at $7,722,000 after acquiring an additional 65,899 shares in the last quarter. Finally, Balyasny Asset Management LLC raised its stake in shares of East West Bancorp by 342.0% during the second quarter. Balyasny Asset Management LLC now owns 263,440 shares of the financial services provider’s stock valued at $12,321,000 after acquiring an additional 203,835 shares in the last quarter. 88.39% of the stock is owned by institutional investors and hedge funds.

Shares of East West Bancorp stock traded down $1.79 on Tuesday, hitting $42.50. 40,532 shares of the company traded hands, compared to its average volume of 887,411. The stock’s 50 day moving average price is $42.33 and its 200-day moving average price is $46.25. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. East West Bancorp, Inc. has a 52 week low of $37.69 and a 52 week high of $63.27. The company has a market cap of $6.54 billion, a PE ratio of 9.14, a PEG ratio of 0.97 and a beta of 1.68.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.24 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.24. East West Bancorp had a net margin of 32.92% and a return on equity of 15.42%. The firm had revenue of $420.09 million during the quarter, compared to the consensus estimate of $416.35 million. During the same quarter in the previous year, the firm posted $1.18 earnings per share. As a group, research analysts anticipate that East West Bancorp, Inc. will post 4.88 EPS for the current fiscal year.

In other East West Bancorp news, CEO Dominic Ng acquired 25,840 shares of East West Bancorp stock in a transaction that occurred on Thursday, August 29th. The stock was bought at an average price of $38.71 per share, with a total value of $1,000,266.40. Following the completion of the purchase, the chief executive officer now directly owns 538,250 shares of the company’s stock, valued at approximately $20,835,657.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Catherine Zhou acquired 2,512 shares of East West Bancorp stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $39.82 per share, with a total value of $100,027.84. Following the purchase, the executive vice president now directly owns 2,512 shares of the company’s stock, valued at $100,027.84. The disclosure for this purchase can be found here. Insiders purchased 38,052 shares of company stock valued at $1,478,330 in the last three months. 0.61% of the stock is currently owned by insiders.

EWBC has been the subject of several research analyst reports. Zacks Investment Research raised shares of East West Bancorp from a “sell” rating to a “hold” rating and set a $48.00 price target for the company in a research note on Friday, June 28th. BidaskClub raised shares of East West Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. ValuEngine downgraded shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, August 2nd. BMO Capital Markets downgraded shares of East West Bancorp from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $51.00 to $44.00 in a research note on Monday, August 19th. Finally, Raymond James raised shares of East West Bancorp from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $57.33.

East West Bancorp Company Profile

East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

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

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