East West Bancorp, Inc. (NASDAQ:EWBC) is Carmel Capital Management L.L.C.’s 7th Largest Position

Carmel Capital Management L.L.C. cut its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 121,045 shares of the financial services provider’s stock after selling 2,725 shares during the period. East West Bancorp accounts for 4.4% of Carmel Capital Management L.L.C.’s holdings, making the stock its 7th biggest position. Carmel Capital Management L.L.C. owned about 0.09% of East West Bancorp worth $11,591,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in East West Bancorp by 1.8% in the 3rd quarter. FMR LLC now owns 7,882,803 shares of the financial services provider’s stock worth $652,223,000 after acquiring an additional 136,528 shares in the last quarter. State Street Corp grew its position in shares of East West Bancorp by 1.4% in the third quarter. State Street Corp now owns 5,314,994 shares of the financial services provider’s stock valued at $439,763,000 after purchasing an additional 75,024 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of East West Bancorp by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,231,953 shares of the financial services provider’s stock worth $350,152,000 after purchasing an additional 96,729 shares in the last quarter. Geode Capital Management LLC raised its position in shares of East West Bancorp by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,608,132 shares of the financial services provider’s stock worth $216,438,000 after purchasing an additional 122,738 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in East West Bancorp by 7.3% in the 3rd quarter. Jennison Associates LLC now owns 1,804,288 shares of the financial services provider’s stock valued at $149,287,000 after buying an additional 123,376 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wells Fargo & Company increased their target price on East West Bancorp from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their price objective on East West Bancorp from $96.00 to $128.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Wedbush upped their target price on East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. UBS Group started coverage on shares of East West Bancorp in a research report on Tuesday, December 17th. They set a “neutral” rating and a $112.00 price target on the stock. Finally, Compass Point lifted their target price on shares of East West Bancorp from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.77.

Insiders Place Their Bets

In related news, Director Molly Campbell sold 1,500 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $98.65, for a total transaction of $147,975.00. Following the completion of the transaction, the director now owns 10,639 shares in the company, valued at approximately $1,049,537.35. The trade was a 12.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total value of $1,279,320.00. Following the completion of the transaction, the insider now directly owns 45,403 shares in the company, valued at $4,840,413.83. This trade represents a 20.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,969 shares of company stock worth $2,458,276 over the last 90 days. Corporate insiders own 1.04% of the company’s stock.

East West Bancorp Stock Up 0.7 %

East West Bancorp stock opened at $103.50 on Friday. The company has a market capitalization of $14.35 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 2.85 and a beta of 1.30. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92. East West Bancorp, Inc. has a fifty-two week low of $67.27 and a fifty-two week high of $113.95. The firm has a 50 day moving average price of $101.31 and a 200 day moving average price of $90.73.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $641.80 million. During the same quarter in the previous year, the business earned $2.02 EPS. Research analysts expect that East West Bancorp, Inc. will post 8.38 earnings per share for the current year.

East West Bancorp 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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.