Beverly Hills Private Wealth LLC Purchases 122 Shares of East West Bancorp, Inc. $EWBC

Beverly Hills Private Wealth LLC increased its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 4.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,630 shares of the financial services provider’s stock after acquiring 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 quarter.

Other large investors also recently modified their holdings of the company. Picton Mahoney Asset Management boosted its position in shares of East West Bancorp by 1,971.4% during the 1st quarter. Picton Mahoney Asset Management now owns 290 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 276 shares during the last quarter. Park Place Capital Corp bought a new stake in shares of East West Bancorp during the 2nd quarter valued at about $27,000. WPG Advisers LLC bought a new stake in shares of East West Bancorp during the 1st quarter valued at about $28,000. SVB Wealth LLC bought a new stake in shares of East West Bancorp during the 1st quarter valued at about $29,000. Finally, Chung Wu Investment Group LLC bought a new stake in shares of East West Bancorp during the 2nd quarter valued at about $30,000. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp Stock Performance

Shares of NASDAQ EWBC opened at $98.81 on Wednesday. The stock has a market cap of $13.62 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 1.34 and a beta of 0.93. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.43. East West Bancorp, Inc. has a 1-year low of $68.27 and a 1-year high of $113.95. The stock’s 50-day moving average is $104.97 and its 200 day moving average is $97.62.

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. The company 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%. On average, sell-side analysts anticipate that East West Bancorp, Inc. will post 8.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted 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. Wells Fargo & Company lifted their price target on East West Bancorp from $100.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. DA Davidson lifted 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. Morgan Stanley raised their price objective on East West Bancorp from $111.00 to $126.00 and gave the company an “underperform” rating in a report on Monday, September 29th. Finally, Cowen initiated coverage on East West Bancorp in a report on Wednesday, September 24th. They set a “buy” rating on the stock. Twelve research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $121.33.

Insider Buying and Selling

In other East West Bancorp news, insider Irene H. Oh sold 15,051 shares of East West Bancorp stock in a transaction that occurred 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 transaction, the insider directly owned 113,353 shares of the company’s stock, valued at $12,098,165.69. The trade was a 11.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gary Teo sold 6,550 shares of East West Bancorp stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 12,235 shares in the company, valued at $1,302,660.45. This trade represents a 34.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,240 shares of company stock valued at $7,379,678 over the last quarter. 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.