First Trust Advisors LP Has $418.34 Million Stake in East West Bancorp, Inc. $EWBC

First Trust Advisors LP decreased its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBCFree Report) by 15.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,918,515 shares of the financial services provider’s stock after selling 702,257 shares during the quarter. First Trust Advisors LP’s holdings in East West Bancorp were worth $418,341,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of East West Bancorp by 84,090.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider’s stock valued at $596,967,000 after buying an additional 5,305,257 shares during the period. Charles Schwab Investment Management Inc. increased its stake in East West Bancorp by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,981,065 shares of the financial services provider’s stock valued at $559,822,000 after acquiring an additional 106,998 shares during the period. Boston Partners increased its stake in East West Bancorp by 19.6% during the third quarter. Boston Partners now owns 3,874,737 shares of the financial services provider’s stock valued at $412,464,000 after acquiring an additional 633,649 shares during the period. Schroder Investment Management Group raised its holdings in East West Bancorp by 9.4% in the 4th quarter. Schroder Investment Management Group now owns 3,713,679 shares of the financial services provider’s stock valued at $423,619,000 after acquiring an additional 318,303 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in East West Bancorp by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,825,161 shares of the financial services provider’s stock valued at $319,523,000 after acquiring an additional 27,402 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

Insider Activity

In related news, CEO Dominic Ng sold 30,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $123.49, for a total transaction of $3,704,700.00. Following the completion of the sale, the chief executive officer owned 707,930 shares in the company, valued at $87,422,275.70. This trade represents a 4.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Douglas Paul Krause sold 10,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $123.50, for a total transaction of $1,235,000.00. Following the sale, the insider owned 46,974 shares of the company’s stock, valued at $5,801,289. This trade represents a 17.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 54,311 shares of company stock worth $6,784,711 in the last quarter. 0.94% of the stock is owned by company insiders.

East West Bancorp News Roundup

Here are the key news stories impacting East West Bancorp this week:

East West Bancorp Price Performance

Shares of EWBC stock opened at $133.40 on Wednesday. The stock’s fifty day simple moving average is $127.49 and its 200 day simple moving average is $119.21. East West Bancorp, Inc. has a one year low of $92.67 and a one year high of $136.24. The firm has a market cap of $18.28 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 1.54 and a beta of 0.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88.

East West Bancorp (NASDAQ:EWBCGet Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.02. The firm had revenue of $791.14 million during the quarter, compared to analyst estimates of $784.47 million. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.During the same period in the prior year, the company posted $2.24 earnings per share. On average, analysts expect that East West Bancorp, Inc. will post 10.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EWBC has been the topic of several recent research reports. Cantor Fitzgerald lifted their price objective on East West Bancorp from $137.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. DA Davidson upped their target price on East West Bancorp from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. TD Cowen raised their target price on East West Bancorp from $137.00 to $143.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Citigroup lifted their price target on shares of East West Bancorp from $145.00 to $154.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Finally, Wells Fargo & Company lifted their price target on shares of East West Bancorp from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, East West Bancorp currently has an average rating of “Moderate Buy” and an average price target of $138.31.

Read Our Latest Stock Report on East West Bancorp

East West Bancorp Company Profile

(Free Report)

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.

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

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