TD Asset Management Inc Has $5.25 Million Holdings in East West Bancorp, Inc. $EWBC

TD Asset Management Inc cut its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 10.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,954 shares of the financial services provider’s stock after selling 6,368 shares during the period. TD Asset Management Inc’s holdings in East West Bancorp were worth $5,246,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management boosted its position in East West Bancorp by 1,971.4% in the first quarter. Picton Mahoney Asset Management now owns 290 shares of the financial services provider’s stock valued at $26,000 after buying an additional 276 shares in the last quarter. Park Place Capital Corp acquired a new position in East West Bancorp in the second quarter valued at about $27,000. WPG Advisers LLC acquired a new position in East West Bancorp in the first quarter valued at about $28,000. SVB Wealth LLC acquired a new position in East West Bancorp in the first quarter valued at about $29,000. Finally, Chung Wu Investment Group LLC acquired a new position in East West Bancorp in the second quarter valued at about $30,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at East West Bancorp

In related news, Director Jack C. Liu sold 1,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $105.00, for a total value of $105,000.00. Following the transaction, the director directly owned 14,974 shares in the company, valued at $1,572,270. This represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Gary Teo sold 6,550 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 12,235 shares in the company, valued at $1,302,660.45. This represents a 34.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,240 shares of company stock valued at $7,379,678. 1.04% of the stock is currently owned by corporate insiders.

East West Bancorp Trading Up 2.4%

Shares of NASDAQ EWBC opened at $98.32 on Tuesday. The company’s 50 day simple moving average is $105.03 and its 200 day simple moving average is $97.61. East West Bancorp, Inc. has a fifty-two week low of $68.27 and a fifty-two week high of $113.95. The firm has a market capitalization of $13.55 billion, a P/E ratio of 11.49, a P/E/G ratio of 1.31 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.

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 for the quarter. East West Bancorp had a net margin of 26.06% and a return on equity of 15.09%. The business had revenue of $627.36 million for the quarter. On average, analysts predict that East West Bancorp, Inc. will post 8.85 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on EWBC. Piper Sandler boosted their price target on shares of East West Bancorp from $100.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, September 8th. Barclays upped their target price on shares of East West Bancorp from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Citigroup upped their target price on shares of East West Bancorp from $124.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Cantor Fitzgerald initiated coverage on shares of East West Bancorp in a research report on Wednesday, September 10th. They set an “overweight” rating and a $124.00 target price on the stock. Finally, Cowen initiated coverage on shares of East West Bancorp in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, East West Bancorp has an average rating of “Moderate Buy” and a consensus price target of $121.33.

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.