TD Asset Management Inc Sells 6,368 Shares of East West Bancorp, Inc. $EWBC

TD Asset Management Inc lessened its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 10.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,954 shares of the financial services provider’s stock after selling 6,368 shares during the quarter. TD Asset Management Inc’s holdings in East West Bancorp were worth $5,246,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of EWBC. Invesco Ltd. raised its holdings in East West Bancorp by 155.6% in the 1st quarter. Invesco Ltd. now owns 7,714,661 shares of the financial services provider’s stock worth $692,468,000 after acquiring an additional 4,696,157 shares during the period. Earnest Partners LLC bought a new position in East West Bancorp in the 1st quarter worth $137,390,000. Nuveen LLC bought a new position in East West Bancorp in the 1st quarter worth $83,330,000. Westfield Capital Management Co. LP raised its holdings in East West Bancorp by 203.0% in the 1st quarter. Westfield Capital Management Co. LP now owns 817,306 shares of the financial services provider’s stock worth $73,361,000 after acquiring an additional 547,556 shares during the period. Finally, Wellington Management Group LLP raised its holdings in East West Bancorp by 6,571.1% in the 1st quarter. Wellington Management Group LLP now owns 460,241 shares of the financial services provider’s stock worth $41,311,000 after acquiring an additional 453,342 shares during the period. Institutional investors own 89.53% of the company’s stock.

Wall Street Analysts Forecast Growth

EWBC has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of East West Bancorp in a report on Wednesday, October 8th. Barclays boosted their price objective on shares of East West Bancorp from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Citigroup boosted their price objective on shares of East West Bancorp from $124.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Cantor Fitzgerald initiated coverage on shares of East West Bancorp in a report on Wednesday, September 10th. They set an “overweight” rating and a $124.00 price objective on the stock. Finally, DA Davidson boosted their price objective on shares of East West Bancorp from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, East West Bancorp has an average rating of “Moderate Buy” and a consensus price target of $121.33.

Insider Buying and Selling at East West Bancorp

In related news, Director Jack C. Liu sold 1,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $105.00, for a total value of $105,000.00. Following the sale, the director owned 14,974 shares of the company’s stock, valued at $1,572,270. The trade was a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Dominic Ng sold 40,000 shares of the company’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $103.38, for a total transaction of $4,135,200.00. Following the completion of the sale, the chief executive officer directly owned 888,314 shares in the company, valued at approximately $91,833,901.32. The trade was a 4.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 70,240 shares of company stock worth $7,379,678. Insiders own 1.04% of the company’s stock.

East West Bancorp Stock Performance

NASDAQ:EWBC opened at $98.32 on Tuesday. The company has a market cap of $13.55 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.31 and a beta of 0.93. The firm’s 50-day moving average is $105.03 and its 200-day moving average is $97.61. East West Bancorp, Inc. has a 52-week low of $68.27 and a 52-week high of $113.95. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.89 and a current ratio of 0.89.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Monday, December 11th. The financial services provider reported $2.08 earnings per share for the quarter. The business had revenue of $627.36 million for the quarter. East West Bancorp had a net margin of 26.06% and a return on equity of 15.09%. Equities research analysts anticipate that East West Bancorp, Inc. will post 8.85 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.