Oakbrook Investments LLC reduced its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 13.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 15,850 shares of the financial services provider’s stock after selling 2,440 shares during the quarter. Oakbrook Investments LLC’s holdings in East West Bancorp were worth $690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of EWBC. Renaissance Technologies LLC lifted its position in East West Bancorp by 37.3% in the second quarter. Renaissance Technologies LLC now owns 311,133 shares of the financial services provider’s stock worth $20,286,000 after purchasing an additional 84,500 shares during the period. Jane Street Group LLC bought a new position in East West Bancorp in the second quarter worth $575,000. Andra AP fonden bought a new position in East West Bancorp in the second quarter worth $4,466,000. Nomura Holdings Inc. lifted its position in East West Bancorp by 28.0% in the second quarter. Nomura Holdings Inc. now owns 11,623 shares of the financial services provider’s stock worth $758,000 after purchasing an additional 2,539 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in East West Bancorp by 25.0% in the second quarter. Advisors Asset Management Inc. now owns 21,626 shares of the financial services provider’s stock worth $1,410,000 after purchasing an additional 4,321 shares during the period. 87.81% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on EWBC shares. Wells Fargo & Co set a $76.00 target price on East West Bancorp and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. DA Davidson raised East West Bancorp from a “neutral” rating to a “buy” rating in a research report on Monday, October 22nd. Barclays reaffirmed a “buy” rating and issued a $69.00 target price on shares of East West Bancorp in a research report on Friday, January 11th. TheStreet cut East West Bancorp from a “b” rating to a “c+” rating in a research report on Friday, December 21st. Finally, Morgan Stanley reduced their target price on East West Bancorp from $67.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 11th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. East West Bancorp currently has an average rating of “Hold” and a consensus target price of $70.00.
Shares of NASDAQ EWBC opened at $50.25 on Tuesday. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 0.95 and a beta of 1.49. East West Bancorp, Inc. has a 52-week low of $40.05 and a 52-week high of $73.98. 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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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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.
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