Public Employees Retirement Association of Colorado cut its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 314,703 shares of the financial services provider’s stock after selling 8,070 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.22% of East West Bancorp worth $10,757,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Metropolitan Life Insurance Co. NY increased its stake in shares of East West Bancorp by 2.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 130,416 shares of the financial services provider’s stock worth $4,236,000 after buying an additional 3,687 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of East West Bancorp by 1.8% in the first quarter. Wellington Management Group LLP now owns 1,031,579 shares of the financial services provider’s stock worth $33,505,000 after buying an additional 18,662 shares during the last quarter. M&T Bank Corp increased its stake in shares of East West Bancorp by 174.3% in the first quarter. M&T Bank Corp now owns 67,541 shares of the financial services provider’s stock worth $2,193,000 after buying an additional 42,916 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of East West Bancorp by 131.3% in the second quarter. Handelsbanken Fonder AB now owns 925,000 shares of the financial services provider’s stock worth $31,616,000 after buying an additional 525,000 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of East West Bancorp by 7.1% in the first quarter. Nuveen Asset Management LLC now owns 264,854 shares of the financial services provider’s stock worth $8,602,000 after buying an additional 17,580 shares during the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

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

East West Bancorp, Inc. (NASDAQ:EWBC) traded up 1.18% during trading on Friday, hitting $38.56. The stock had a trading volume of 816,498 shares. The company has a 50-day moving average price of $36.88 and a 200-day moving average price of $35.73. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 14.12 and a beta of 1.55. East West Bancorp, Inc. has a 52-week low of $27.25 and a 52-week high of $43.94.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. East West Bancorp had a net margin of 31.15% and a return on equity of 12.49%. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Equities research analysts forecast that East West Bancorp, Inc. will post $2.85 EPS for the current year.

A number of analysts recently commented on EWBC shares. Zacks Investment Research raised East West Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, October 3rd. Macquarie raised East West Bancorp from a “neutral” rating to an “outperform” rating in a research report on Friday, July 22nd. BMO Capital Markets reaffirmed a “buy” rating and set a $41.00 price target on shares of East West Bancorp in a research report on Friday, July 22nd. Deutsche Bank AG increased their price target on East West Bancorp from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Barclays PLC increased their price target on East West Bancorp from $41.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. East West Bancorp currently has a consensus rating of “Buy” and a consensus target price of $43.43.

In related news, Director Rudolph Estrada sold 2,888 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $34.62, for a total value of $99,982.56. Following the completion of the transaction, the director now owns 15,261 shares of the company’s stock, valued at approximately $528,335.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack C. Liu sold 2,101 shares of the stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $37.35, for a total transaction of $78,472.35. Following the completion of the transaction, the director now directly owns 29,006 shares of the company’s stock, valued at approximately $1,083,374.10. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.

East West Bancorp Company Profile

East West Bancorp, Inc (East West) 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 operates through three segments: Retail Banking, Commercial Banking and Other. The Retail Banking segment focuses primarily on retail operations through the Bank’s branch network.

5 Day Chart for NASDAQ:EWBC

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