Cwm LLC Has $1.48 Million Stock Position in East West Bancorp, Inc. $EWBC

Key Points

• Cwm LLC increased its stake in East West Bancorp, Inc. by 37.0%, owning approximately $1.48 million worth of shares after purchasing an additional 3,948 shares in Q2.
• Several institutional investors have significantly increased their holdings in East West Bancorp, with Invesco Ltd. raising its stake by 155.6% in the first quarter alone.
• Multiple analysts upgraded their price targets, with DA Davidson raising their target from $115.00 to $125.00 and a consensus rating of "Moderate Buy" for the stock.

Cwm LLC lifted its position in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 37.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,622 shares of the financial services provider's stock after buying an additional 3,948 shares during the period. Cwm LLC's holdings in East West Bancorp were worth $1,477,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in EWBC. Invesco Ltd. increased its holdings in shares of East West Bancorp by 155.6% in the first 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 in the last quarter. Earnest Partners LLC acquired a new position in shares of East West Bancorp in the 1st quarter valued at approximately $137,390,000. Nuveen LLC bought a new stake in East West Bancorp during the 1st quarter worth approximately $83,330,000. Westfield Capital Management Co. LP raised its holdings in East West Bancorp by 203.0% during 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 buying an additional 547,556 shares during the period. Finally, Wellington Management Group LLP raised its holdings in East West Bancorp by 6,571.1% during the 1st quarter. Wellington Management Group LLP now owns 460,241 shares of the financial services provider's stock worth $41,311,000 after buying an additional 453,342 shares during the period. Institutional investors and hedge funds own 89.53% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on EWBC shares. DA Davidson increased their price objective on shares of East West Bancorp from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. TD Cowen initiated coverage on shares of East West Bancorp in a research note on Thursday, September 25th. They issued a "buy" rating and a $139.00 target price for the company. Citigroup lifted their price target on East West Bancorp from $124.00 to $134.00 and gave the company a "buy" rating in a research note on Monday, September 8th. Barclays boosted their price target on East West Bancorp from $140.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price objective on East West Bancorp from $100.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $121.33.

East West Bancorp Stock Performance

Shares of NASDAQ EWBC opened at $98.32 on Tuesday. The stock has a 50 day moving average price of $105.03 and a 200 day moving average price of $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. The stock has a market capitalization of $13.55 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 1.31 and a beta of 0.93.

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

Insider Activity

In other East West Bancorp news, CEO Dominic Ng sold 40,000 shares of the company's stock in a transaction on 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 sale, the chief executive officer directly owned 888,314 shares of the company's stock, valued at approximately $91,833,901.32. This represents a 4.31% 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, EVP Gary Teo sold 6,550 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $106.47, for a total transaction of $697,378.50. Following the completion of the sale, the executive vice president owned 12,235 shares of the company's stock, valued at approximately $1,302,660.45. This represents a 34.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,240 shares of company stock valued at $7,379,678 in the last ninety days. Corporate 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.

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