Signature Estate & Investment Advisors LLC Sells 31 Shares of East West Bancorp, Inc. (EWBC)
Signature Estate & Investment Advisors LLC trimmed its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 0.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,855 shares of the financial services provider’s stock after selling 31 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in East West Bancorp were worth $1,339,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS Group AG increased its position in East West Bancorp by 145.6% during the 1st quarter. UBS Group AG now owns 103,778 shares of the financial services provider’s stock valued at $5,356,000 after buying an additional 61,527 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new position in East West Bancorp during the 1st quarter valued at about $1,251,000. Dai Ichi Life Insurance Company Ltd increased its position in East West Bancorp by 113.8% during the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 96,514 shares of the financial services provider’s stock valued at $5,654,000 after buying an additional 51,378 shares in the last quarter. Principal Financial Group Inc. increased its position in East West Bancorp by 128.7% during the 2nd quarter. Principal Financial Group Inc. now owns 2,951,316 shares of the financial services provider’s stock valued at $172,888,000 after buying an additional 1,660,844 shares in the last quarter. Finally, American Century Companies Inc. increased its position in East West Bancorp by 603.1% during the 2nd quarter. American Century Companies Inc. now owns 1,035,361 shares of the financial services provider’s stock valued at $60,651,000 after buying an additional 888,094 shares in the last quarter. 90.48% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on EWBC shares. Piper Jaffray Companies set a $68.00 target price on East West Bancorp and gave the company a “buy” rating in a research report on Saturday, June 17th. BidaskClub raised East West Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Tuesday, June 6th. Finally, Morgan Stanley upped their target price on East West Bancorp from $57.00 to $59.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 6th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. East West Bancorp currently has an average rating of “Hold” and an average target price of $63.00.
East West Bancorp, Inc. (NASDAQ:EWBC) traded up 0.96% during mid-day trading on Friday, reaching $59.78. The company’s stock had a trading volume of 904,549 shares. The stock’s 50 day moving average is $55.78 and its 200 day moving average is $55.37. The firm has a market cap of $8.64 billion, a PE ratio of 17.08 and a beta of 1.43. 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 released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.81. East West Bancorp had a return on equity of 13.31% and a net margin of 34.63%. The firm had revenue of $337.49 million for the quarter, compared to analyst estimates of $329.32 million. During the same quarter last year, the company posted $0.71 earnings per share. On average, analysts anticipate that East West Bancorp, Inc. will post $3.70 EPS for the current year.
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In related news, Director Rudolph Estrada sold 1,916 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $55.97, for a total transaction of $107,238.52. Following the transaction, the director now owns 15,475 shares of the company’s stock, valued at $866,135.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.88% of the company’s stock.
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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