New Mexico Educational Retirement Board raised its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 38.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 34,693 shares of the financial services provider’s stock after acquiring an additional 9,600 shares during the quarter. New Mexico Educational Retirement Board’s holdings in East West Bancorp were worth $893,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Arden Trust Co bought a new stake in shares of East West Bancorp in the 1st quarter valued at $38,000. Private Capital Group LLC raised its holdings in shares of East West Bancorp by 39.1% in the first quarter. Private Capital Group LLC now owns 2,160 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 607 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new stake in shares of East West Bancorp in the fourth quarter valued at about $57,000. Smithfield Trust Co. raised its holdings in shares of East West Bancorp by 2,775.0% in the first quarter. Smithfield Trust Co. now owns 2,300 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 2,220 shares during the last quarter. Finally, Pendal Group Ltd raised its holdings in shares of East West Bancorp by 65.7% in the first quarter. Pendal Group Ltd now owns 3,062 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 1,214 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Several analysts have recently commented on the stock. DA Davidson increased their target price on shares of East West Bancorp from $33.00 to $37.00 in a report on Friday, June 19th. UBS Group raised their price objective on shares of East West Bancorp from $24.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Wells Fargo & Co downgraded shares of East West Bancorp from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $53.00 to $31.00 in a report on Monday, March 30th. Compass Point started coverage on shares of East West Bancorp in a report on Tuesday, April 14th. They set a “neutral” rating for the company. Finally, Morgan Stanley raised their price objective on shares of East West Bancorp from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. East West Bancorp has a consensus rating of “Hold” and an average price target of $39.11.

NASDAQ:EWBC opened at $35.26 on Tuesday. The company has a market cap of $4.78 billion, a P/E ratio of 7.85, a P/E/G ratio of 0.93 and a beta of 2.00. The stock’s fifty day moving average price is $36.04 and its two-hundred day moving average price is $38.93. East West Bancorp, Inc. has a 1 year low of $22.55 and a 1 year high of $51.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.99 and a quick ratio of 0.99.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.03. The firm had revenue of $416.76 million for the quarter, compared to analysts’ expectations of $401.75 million. East West Bancorp had a net margin of 31.34% and a return on equity of 14.00%. During the same quarter in the prior year, the firm posted $1.16 earnings per share. On average, analysts expect that East West Bancorp, Inc. will post 3.62 earnings per share for the current fiscal year.

East West Bancorp Company Profile

East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

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

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