Beverly Hills Private Wealth LLC Has $266,000 Stake in East West Bancorp, Inc. $EWBC

Beverly Hills Private Wealth LLC lifted its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 4.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,630 shares of the financial services provider’s stock after purchasing an additional 122 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in East West Bancorp were worth $266,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of EWBC. Invesco Ltd. raised its position in shares of East West Bancorp by 155.6% during the first quarter. Invesco Ltd. now owns 7,714,661 shares of the financial services provider’s stock worth $692,468,000 after purchasing an additional 4,696,157 shares during the period. Earnest Partners LLC purchased a new stake in East West Bancorp in the 1st quarter valued at $137,390,000. Nuveen LLC purchased a new stake in East West Bancorp in the 1st quarter valued at $83,330,000. Westfield Capital Management Co. LP raised its position 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 valued at $73,361,000 after buying an additional 547,556 shares during the last quarter. Finally, Wellington Management Group LLP raised its position 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 valued at $41,311,000 after buying an additional 453,342 shares during the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on EWBC. TD Cowen began coverage on East West Bancorp in a research report on Thursday, September 25th. They issued a “buy” rating and a $139.00 price target for the company. DA Davidson increased their price target on East West Bancorp from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods increased their price target on East West Bancorp from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. Citigroup increased their price target on East West Bancorp from $124.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of East West Bancorp in a research report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.33.

East West Bancorp Stock Up 0.5%

Shares of NASDAQ:EWBC opened at $98.81 on Wednesday. The company has a market capitalization of $13.62 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.89. The business has a fifty day moving average price of $104.97 and a two-hundred day moving average price of $97.62. East West Bancorp, Inc. has a 1 year low of $68.27 and a 1 year high of $113.95.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Monday, December 11th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter. The firm had revenue of $627.36 million during the quarter. East West Bancorp had a return on equity of 15.09% and a net margin of 26.06%. Analysts forecast that East West Bancorp, Inc. will post 8.85 earnings per share for the current year.

Insiders Place Their Bets

In other East West Bancorp news, insider Irene H. Oh sold 15,051 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $106.73, for a total value of $1,606,393.23. Following the completion of the transaction, the insider owned 113,353 shares in the company, valued at $12,098,165.69. This represents a 11.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gary Teo sold 6,550 shares of East West Bancorp stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $106.47, for a total value of $697,378.50. Following the completion of the sale, the executive vice president directly owned 12,235 shares of the company’s stock, valued at approximately $1,302,660.45. This trade represents a 34.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,240 shares of company stock worth $7,379,678 over the last 90 days. Company insiders own 1.04% of the company’s stock.

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 businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.