Qube Research & Technologies Ltd Takes $250,000 Position in East West Bancorp, Inc. (EWBC)

Qube Research & Technologies Ltd purchased a new position in East West Bancorp, Inc. (NASDAQ:EWBC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,829 shares of the financial services provider’s stock, valued at approximately $250,000.

Other hedge funds have also made changes to their positions in the company. BTIM Corp. purchased a new stake in East West Bancorp in the second quarter worth $10,356,000. Toronto Dominion Bank lifted its stake in East West Bancorp by 45.6% in the second quarter. Toronto Dominion Bank now owns 14,405 shares of the financial services provider’s stock worth $939,000 after acquiring an additional 4,510 shares during the period. GSA Capital Partners LLP lifted its stake in East West Bancorp by 328.4% in the first quarter. GSA Capital Partners LLP now owns 40,396 shares of the financial services provider’s stock worth $2,526,000 after acquiring an additional 30,966 shares during the period. SG Americas Securities LLC lifted its stake in East West Bancorp by 66.4% in the second quarter. SG Americas Securities LLC now owns 49,305 shares of the financial services provider’s stock worth $3,215,000 after acquiring an additional 19,675 shares during the period. Finally, Chartwell Investment Partners LLC lifted its stake in East West Bancorp by 6.7% in the second quarter. Chartwell Investment Partners LLC now owns 34,659 shares of the financial services provider’s stock worth $2,260,000 after acquiring an additional 2,167 shares during the period. 88.85% of the stock is owned by institutional investors.

In other East West Bancorp news, CEO Dominic Ng sold 5,770 shares of the firm’s stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $70.11, for a total transaction of $404,534.70. Following the completion of the transaction, the chief executive officer now owns 413,012 shares of the company’s stock, valued at $28,956,271.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 17,310 shares of company stock valued at $1,208,757 in the last three months. Insiders own 0.88% of the company’s stock.

Shares of East West Bancorp stock opened at $62.67 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The firm has a market cap of $8.99 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 1.28 and a beta of 1.33. East West Bancorp, Inc. has a 12 month low of $55.23 and a 12 month high of $73.98.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, July 19th. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.09 by $0.09. The business had revenue of $389.95 million during the quarter, compared to analyst estimates of $382.70 million. East West Bancorp had a return on equity of 15.12% and a net margin of 34.15%. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 earnings per share. sell-side analysts anticipate that East West Bancorp, Inc. will post 4.61 EPS for the current year.

EWBC has been the subject of a number of research analyst reports. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Wednesday, June 20th. BidaskClub lowered East West Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, June 1st. ValuEngine lowered East West Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, June 11th. Barclays lowered their price objective on East West Bancorp from $78.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday, July 20th. Finally, Keefe, Bruyette & Woods raised East West Bancorp from a “market perform” rating to an “outperform” rating and set a $41.00 price objective for the company in a research report on Friday, July 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $71.77.

East West Bancorp 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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.

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Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

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