SG Americas Securities LLC Sells 18,153 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

SG Americas Securities LLC lowered its position in East West Bancorp, Inc. (NASDAQ:EWBC – Get Rating) by 69.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,117 shares of the financial services provider’s stock after selling 18,153 shares during the period. SG Americas Securities LLC’s holdings in East West Bancorp were worth $545,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of EWBC. Tobam bought a new stake in shares of East West Bancorp in the second quarter worth $32,000. NewSquare Capital LLC lifted its position in East West Bancorp by 1,515.6% during the third quarter. NewSquare Capital LLC now owns 517 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 485 shares in the last quarter. Ellevest Inc. lifted its position in East West Bancorp by 763.0% during the second quarter. Ellevest Inc. now owns 630 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 557 shares in the last quarter. First Horizon Advisors Inc. lifted its position in East West Bancorp by 73.0% during the second quarter. First Horizon Advisors Inc. now owns 844 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 356 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in East West Bancorp by 100.2% during the second quarter. Quadrant Capital Group LLC now owns 881 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 441 shares in the last quarter. Institutional investors own 88.68% of the company’s stock.

East West Bancorp Price Performance

Shares of East West Bancorp stock opened at $69.76 on Tuesday. The stock’s 50-day simple moving average is $66.90 and its 200-day simple moving average is $69.63. East West Bancorp, Inc. has a 52 week low of $61.65 and a 52 week high of $93.51. The company has a market capitalization of $9.83 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 0.78 and a beta of 1.40. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.08.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EWBC. Wells Fargo & Company lowered their target price on East West Bancorp from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, December 15th. StockNews.com began coverage on East West Bancorp in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley began coverage on East West Bancorp in a research report on Monday, December 5th. They set an “equal weight” rating and a $84.00 target price on the stock. Finally, Piper Sandler boosted their price objective on East West Bancorp to $75.00 in a research report on Friday, September 30th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $81.67.

Insider Activity

In related news, Vice Chairman Douglas Paul Krause sold 5,000 shares of the business’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $72.43, for a total value of $362,150.00. Following the sale, the insider now directly owns 52,435 shares in the company, valued at $3,797,867.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.80% of the company’s stock.

East West Bancorp Company Profile

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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. It operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. The company accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.