East West Bancorp, Inc. (NASDAQ:EWBC) Position Boosted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 46.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,922 shares of the financial services provider’s stock after acquiring an additional 15,118 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in East West Bancorp were worth $3,448,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in East West Bancorp by 65.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 211 shares in the last quarter. Denali Advisors LLC grew its stake in shares of East West Bancorp by 66.7% in the 4th quarter. Denali Advisors LLC now owns 500 shares of the financial services provider’s stock valued at $36,000 after buying an additional 200 shares in the last quarter. Planned Solutions Inc. bought a new stake in shares of East West Bancorp in the 4th quarter valued at approximately $40,000. Global Retirement Partners LLC grew its stake in shares of East West Bancorp by 1,050.0% in the 4th quarter. Global Retirement Partners LLC now owns 667 shares of the financial services provider’s stock valued at $47,000 after buying an additional 609 shares in the last quarter. Finally, CWM LLC grew its stake in shares of East West Bancorp by 22.8% in the 3rd quarter. CWM LLC now owns 1,825 shares of the financial services provider’s stock valued at $96,000 after buying an additional 339 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Stock Up 2.2 %

Shares of EWBC stock opened at $74.47 on Tuesday. East West Bancorp, Inc. has a 12 month low of $41.12 and a 12 month high of $79.54. The firm has a market cap of $10.36 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 0.93 and a beta of 1.39. The stock has a 50 day moving average of $74.46 and a 200-day moving average of $68.11. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.02.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. East West Bancorp had a return on equity of 18.47% and a net margin of 29.11%. The company had revenue of $654.70 million during the quarter, compared to analyst estimates of $641.91 million. During the same period in the previous year, the company earned $2.37 earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities analysts predict that East West Bancorp, Inc. will post 7.87 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Compass Point boosted their price target on East West Bancorp from $83.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Barclays assumed coverage on East West Bancorp in a research note on Friday, March 8th. They issued an “overweight” rating and a $106.00 price target for the company. Piper Sandler boosted their price target on East West Bancorp from $72.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Truist Financial boosted their price target on East West Bancorp from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Morgan Stanley upped their target price on East West Bancorp from $76.00 to $89.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.42.

Insider Transactions at East West Bancorp

In other news, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total transaction of $147,160.00. Following the completion of the transaction, the director now directly owns 16,739 shares in the company, valued at $1,231,655.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Molly Campbell sold 1,625 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the transaction, the director now directly owns 10,321 shares in the company, valued at $797,400.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.58, for a total value of $147,160.00. Following the completion of the transaction, the director now owns 16,739 shares of the company’s stock, valued at $1,231,655.62. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

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 businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.