First Trust Advisors LP Has $418.34 Million Stake in East West Bancorp, Inc. $EWBC

First Trust Advisors LP lowered its position in East West Bancorp, Inc. (NASDAQ:EWBCFree Report) by 15.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,918,515 shares of the financial services provider’s stock after selling 702,257 shares during the period. First Trust Advisors LP owned 2.86% of East West Bancorp worth $418,341,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EWBC. Oak Thistle LLC bought a new stake in East West Bancorp in the fourth quarter worth $1,530,000. Northwestern Mutual Wealth Management Co. increased its position in East West Bancorp by 84,090.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider’s stock worth $596,967,000 after buying an additional 5,305,257 shares during the last quarter. Mach 1 Financial Group LLC bought a new position in East West Bancorp during the fourth quarter valued at about $1,044,000. Geode Capital Management LLC raised its holdings in East West Bancorp by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,825,161 shares of the financial services provider’s stock valued at $319,523,000 after buying an additional 27,402 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of East West Bancorp by 141.2% in the fourth quarter. SG Americas Securities LLC now owns 128,368 shares of the financial services provider’s stock worth $14,427,000 after buying an additional 75,147 shares during the last quarter. Institutional investors own 89.53% of the company’s stock.

Insiders Place Their Bets

In other East West Bancorp news, insider Irene H. Oh sold 11,211 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $129.00, for a total value of $1,446,219.00. Following the sale, the insider owned 85,998 shares of the company’s stock, valued at $11,093,742. This trade represents a 11.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Dominic Ng sold 30,000 shares of East West Bancorp stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $123.49, for a total value of $3,704,700.00. Following the completion of the transaction, the chief executive officer directly owned 707,930 shares in the company, valued at approximately $87,422,275.70. This represents a 4.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 54,311 shares of company stock worth $6,784,711 over the last quarter. 0.94% of the stock is currently owned by company insiders.

East West Bancorp News Summary

Here are the key news stories impacting East West Bancorp this week:

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. DA Davidson upped their price target on East West Bancorp from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Citigroup raised their price objective on East West Bancorp from $145.00 to $154.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Wall Street Zen lowered East West Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Piper Sandler upped their target price on East West Bancorp from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of East West Bancorp in a report on Friday, July 10th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $138.31.

Get Our Latest Report on East West Bancorp

East West Bancorp Stock Down 0.4%

East West Bancorp stock opened at $133.40 on Wednesday. The firm has a market cap of $18.28 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 1.54 and a beta of 0.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. East West Bancorp, Inc. has a fifty-two week low of $92.67 and a fifty-two week high of $136.24. The firm has a fifty day moving average price of $127.49 and a two-hundred day moving average price of $119.21.

East West Bancorp (NASDAQ:EWBCGet Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.02. The company had revenue of $791.14 million during the quarter, compared to analysts’ expectations of $784.47 million. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. During the same period in the prior year, the company earned $2.24 earnings per share. As a group, analysts forecast that East West Bancorp, Inc. will post 10.56 earnings per share for the current year.

East West Bancorp Company Profile

(Free Report)

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.

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

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