Hancock Holding Co. cut its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 6.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,905 shares of the financial services provider’s stock after selling 1,909 shares during the period. Hancock Holding Co.’s holdings in East West Bancorp were worth $1,634,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of 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 worth $780,841,000 after purchasing an additional 1,373,528 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of East West Bancorp by 7.5% during the 2nd quarter. Vanguard Group Inc. now owns 12,734,214 shares of the financial services provider’s stock worth $745,971,000 after purchasing an additional 893,764 shares during the last quarter. Boston Partners increased its stake in shares of 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 worth $384,802,000 after purchasing an additional 828,887 shares during the last quarter. State Street Corp increased its stake in shares of 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 worth $314,556,000 after purchasing an additional 199,996 shares during the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of 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 worth $208,441,000 after purchasing an additional 45,604 shares during the last quarter. Institutional investors own 90.48% of the company’s stock.

In related news, Director Rudolph Estrada sold 1,916 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $55.97, for a total transaction of $107,238.52. Following the completion of the sale, the director now owns 15,475 shares in the company, valued at $866,135.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.88% of the company’s stock.

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Several research analysts have recently weighed in on EWBC shares. Zacks Investment Research lowered shares of East West Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. BidaskClub raised shares of East West Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Wedbush reaffirmed an “outperform” rating and set a $68.00 target price on shares of East West Bancorp in a report on Thursday, July 20th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 target price (up previously from $59.00) on shares of East West Bancorp in a report on Thursday, July 6th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $63.00.

Shares of East West Bancorp, Inc. (EWBC) opened at 58.48 on Thursday. The company has a market cap of $8.45 billion, a P/E ratio of 16.70 and a beta of 1.43. The company’s 50 day moving average is $55.78 and its 200 day moving average is $55.37. East West Bancorp, Inc. has a one year low of $35.53 and a one year high of $60.42.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. The business had revenue of $337.49 million during the quarter, compared to the consensus estimate of $329.32 million. During the same quarter last year, the company posted $0.71 earnings per share. On average, equities analysts predict that East West Bancorp, Inc. will post $3.71 earnings per share for the current year.

East West Bancorp 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.

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

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