East West Bancorp, Inc. (EWBC) Shares Bought by Teachers Advisors LLC
Teachers Advisors LLC increased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 31.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,088,983 shares of the financial services provider’s stock after acquiring an additional 257,747 shares during the period. Teachers Advisors LLC owned about 0.75% of East West Bancorp worth $63,793,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Strs Ohio purchased a new position in East West Bancorp during the 2nd quarter worth $110,000. IFP Advisors Inc increased its holdings in East West Bancorp by 126.0% during the 2nd quarter. IFP Advisors Inc now owns 2,857 shares of the financial services provider’s stock worth $167,000 after purchasing an additional 1,593 shares during the period. Keybank National Association OH purchased a new position in East West Bancorp during the 2nd quarter worth $211,000. Eagle Global Advisors LLC purchased a new position in East West Bancorp during the 2nd quarter worth $222,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in East West Bancorp during the 1st quarter worth $230,000. 91.34% of the stock is owned by hedge funds and other institutional investors.
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EWBC has been the topic of several research reports. Piper Jaffray Companies set a $68.00 price objective on East West Bancorp and gave the stock a “buy” rating in a report on Saturday, June 17th. BidaskClub upgraded East West Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Tuesday, June 6th. Morgan Stanley restated an “equal weight” rating and set a $60.00 price objective (up from $59.00) on shares of East West Bancorp in a report on Thursday, July 6th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $57.00 price objective on shares of East West Bancorp in a report on Monday, May 22nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $62.88.
East West Bancorp, Inc. (EWBC) opened at 55.97 on Friday. East West Bancorp, Inc. has a one year low of $35.53 and a one year high of $60.42. The stock has a market capitalization of $8.09 billion, a P/E ratio of 15.99 and a beta of 1.43. The stock has a 50 day moving average price of $55.82 and a 200-day moving average price of $55.35.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.81 EPS for the quarter, hitting analysts’ consensus estimates of $0.81. East West Bancorp had a return on equity of 13.31% and a net margin of 34.63%. The company had revenue of $337.49 million for the quarter, compared to analysts’ expectations of $329.32 million. During the same period in the prior year, the firm earned $0.71 earnings per share. Analysts anticipate that East West Bancorp, Inc. will post $3.74 earnings per share for the current year.
About East West Bancorp
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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