Nicholas Company Inc. acquired a new stake in East West Bancorp, Inc. (NASDAQ:EWBC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 243,630 shares of the financial services provider’s stock, valued at approximately $14,271,000. Nicholas Company Inc. owned 0.17% of East West Bancorp as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in East West Bancorp by 11.5% during the 2nd quarter. BlackRock Inc. now owns 13,329,464 shares of the financial services provider’s stock valued at $780,841,000 after acquiring an additional 1,373,528 shares in the last quarter. Vanguard Group Inc. increased its holdings in East West Bancorp by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 11,840,450 shares of the financial services provider’s stock valued at $611,085,000 after acquiring an additional 566,257 shares in the last quarter. Boston Partners increased its holdings in East West Bancorp by 14.4% during the 2nd quarter. Boston Partners now owns 6,568,832 shares of the financial services provider’s stock valued at $384,802,000 after acquiring an additional 828,887 shares in the last quarter. State Street Corp increased its holdings in East West Bancorp by 3.4% during the 1st quarter. State Street Corp now owns 6,094,888 shares of the financial services provider’s stock valued at $314,556,000 after acquiring an additional 199,996 shares in the last quarter. Finally, Macquarie Group Ltd. increased its holdings in East West Bancorp by 1.1% during the 1st quarter. Macquarie Group Ltd. now owns 4,038,781 shares of the financial services provider’s stock valued at $208,441,000 after acquiring an additional 45,604 shares in the last quarter. Hedge funds and other institutional investors own 91.34% of the company’s stock.

Shares of East West Bancorp, Inc. (NASDAQ:EWBC) traded up 0.94% during midday trading on Friday, hitting $55.97. 1,023,834 shares of the stock were exchanged. East West Bancorp, Inc. has a one year low of $35.53 and a one year high of $60.42. The stock’s 50-day moving average price is $55.82 and its 200 day moving average price is $55.35. The stock has a market cap of $8.09 billion, a P/E ratio of 15.99 and a beta of 1.43.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.81. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. The company had revenue of $337.49 million during the quarter, compared to the consensus estimate of $329.32 million. During the same period in the prior year, the company earned $0.71 EPS. On average, analysts anticipate that East West Bancorp, Inc. will post $3.74 earnings per share for the current year.

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Several equities analysts have weighed in on EWBC shares. Keefe, Bruyette & Woods restated a “hold” rating and set a $57.00 target price on shares of East West Bancorp in a report on Monday, May 22nd. Morgan Stanley raised their target price on shares of East West Bancorp from $57.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday, June 6th. Zacks Investment Research upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Tuesday, June 6th. BidaskClub upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Finally, Piper Jaffray Companies set a $68.00 target price on shares of East West Bancorp and gave the company a “buy” rating in a report on Saturday, June 17th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. East West Bancorp currently has an average rating of “Hold” and an average price target of $62.88.

East West Bancorp Company Profile

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.

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

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