East West Bancorp (EWBC) Shares Gap Down Following Weak Earnings

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East West Bancorp, Inc. (NASDAQ:EWBC)’s share price gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $53.34, but opened at $51.87. East West Bancorp shares last traded at $49.75, with a volume of 2406388 shares trading hands.

The financial services provider reported $1.16 EPS for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.06). East West Bancorp had a net margin of 37.78% and a return on equity of 16.26%. During the same quarter last year, the company posted $1.13 EPS.

A number of research firms recently issued reports on EWBC. BidaskClub downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Zacks Investment Research downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, January 14th. ValuEngine raised shares of East West Bancorp from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. TheStreet downgraded shares of East West Bancorp from a “b” rating to a “c+” rating in a research report on Friday, December 21st. Finally, Barclays reissued a “buy” rating and set a $69.00 target price on shares of East West Bancorp in a research report on Friday, January 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. East West Bancorp presently has an average rating of “Hold” and a consensus price target of $66.70.

In other East West Bancorp news, Director Jack C. Liu sold 2,108 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $55.20, for a total value of $116,361.60. Following the completion of the transaction, the director now owns 18,857 shares in the company, valued at approximately $1,040,906.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rudolph Estrada sold 1,902 shares of the company’s stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $52.64, for a total value of $100,121.28. Following the completion of the transaction, the director now owns 15,089 shares of the company’s stock, valued at approximately $794,284.96. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gulf International Bank UK Ltd boosted its holdings in East West Bancorp by 2.1% in the 1st quarter. Gulf International Bank UK Ltd now owns 31,800 shares of the financial services provider’s stock worth $1,525,000 after acquiring an additional 650 shares during the period. IFM Investors Pty Ltd boosted its holdings in East West Bancorp by 13.8% in the 1st quarter. IFM Investors Pty Ltd now owns 6,995 shares of the financial services provider’s stock worth $336,000 after acquiring an additional 850 shares during the period. Nisa Investment Advisors LLC boosted its holdings in East West Bancorp by 5.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 78,700 shares of the financial services provider’s stock worth $3,775,000 after acquiring an additional 3,900 shares during the period. Gemmer Asset Management LLC boosted its holdings in East West Bancorp by 69.6% in the 1st quarter. Gemmer Asset Management LLC now owns 714 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 293 shares during the period. Finally, BTIM Corp. boosted its holdings in East West Bancorp by 27.9% in the 1st quarter. BTIM Corp. now owns 226,782 shares of the financial services provider’s stock worth $10,879,000 after acquiring an additional 49,467 shares during the period. Hedge funds and other institutional investors own 88.58% of the company’s stock.

The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of 10.53, a P/E/G ratio of 0.95 and a beta of 1.54. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.01 and a quick ratio of 1.01.

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About East West Bancorp (NASDAQ:EWBC)

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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