Investors sold shares of East West Bancorp, Inc. (NASDAQ:EWBC) on strength during trading on Wednesday. $13.13 million flowed into the stock on the tick-up and $35.26 million flowed out of the stock on the tick-down, for a money net flow of $22.13 million out of the stock. Of all equities tracked, East West Bancorp had the 0th highest net out-flow for the day. East West Bancorp traded up $0.15 for the day and closed at $65.21
Several brokerages recently weighed in on EWBC. UBS began coverage on shares of East West Bancorp in a research report on Thursday. They set a “buy” rating and a $77.00 price objective on the stock. BidaskClub lowered shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, March 16th. Zacks Investment Research lowered shares of East West Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Deutsche Bank raised shares of East West Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, February 6th. Finally, ValuEngine raised shares of East West Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $70.08.
The stock has a market capitalization of $9,425.71, a PE ratio of 18.90, a P/E/G ratio of 1.41 and a beta of 1.40. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.87 EPS for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.04). East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. The firm had revenue of $365.06 million during the quarter, compared to the consensus estimate of $359.43 million. During the same period in the prior year, the business earned $0.76 EPS. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. sell-side analysts forecast that East West Bancorp, Inc. will post 4.4 EPS for the current year.
In other news, Director Molly Campbell sold 461 shares of East West Bancorp stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $65.11, for a total value of $30,015.71. Following the transaction, the director now owns 5,448 shares of the company’s stock, valued at $354,719.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Irene H. Oh sold 5,000 shares of East West Bancorp stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $68.29, for a total transaction of $341,450.00. Following the completion of the transaction, the chief financial officer now directly owns 38,021 shares in the company, valued at approximately $2,596,454.09. The disclosure for this sale can be found here. In the last three months, insiders sold 9,461 shares of company stock worth $641,846. Insiders own 0.88% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Colonial Trust Advisors raised its position in shares of East West Bancorp by 36.9% in the fourth quarter. Colonial Trust Advisors now owns 69,539 shares of the financial services provider’s stock valued at $4,230,000 after purchasing an additional 18,751 shares during the period. Xact Kapitalforvaltning AB raised its position in shares of East West Bancorp by 3.3% in the fourth quarter. Xact Kapitalforvaltning AB now owns 40,431 shares of the financial services provider’s stock valued at $2,459,000 after purchasing an additional 1,284 shares during the period. Handelsbanken Fonder AB raised its position in shares of East West Bancorp by 12.4% in the fourth quarter. Handelsbanken Fonder AB now owns 2,349,611 shares of the financial services provider’s stock valued at $142,927,000 after purchasing an additional 260,000 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of East West Bancorp by 107.4% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 5,600 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 2,900 shares during the period. Finally, MetLife Investment Advisors LLC bought a new position in shares of East West Bancorp in the fourth quarter valued at approximately $5,563,000. 91.66% of the stock is currently owned by institutional investors.
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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.
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