East West Bancorp, Inc. (NASDAQ:EWBC) Short Interest Down 10.9% in June

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East West Bancorp, Inc. (NASDAQ:EWBC) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 2,084,200 shares, a decrease of 10.9% from the May 30th total of 2,338,600 shares. Based on an average daily trading volume, of 945,800 shares, the days-to-cover ratio is presently 2.2 days. Approximately 1.5% of the company’s stock are short sold.

A number of analysts have recently weighed in on the stock. Wedbush reaffirmed a “buy” rating and issued a $35.00 target price on shares of Lexicon Pharmaceuticals in a research report on Monday, June 3rd. BidaskClub raised shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 28th. Morgan Stanley raised shares of Dongfeng Motor Group from an “equal weight” rating to an “overweight” rating in a research report on Monday, July 1st. Zacks Investment Research raised shares of Booz Allen Hamilton from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Friday, June 28th. Finally, ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. East West Bancorp presently has an average rating of “Buy” and a consensus target price of $61.38.

EWBC stock traded up $0.71 during trading on Friday, hitting $46.57. 694,355 shares of the stock traded hands, compared to its average volume of 1,054,154. East West Bancorp has a 1 year low of $40.05 and a 1 year high of $68.06. The stock has a 50 day simple moving average of $45.07. The stock has a market capitalization of $6.67 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 1.00 and a beta of 1.62. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.06). The company had revenue of $404.59 million for the quarter, compared to the consensus estimate of $411.11 million. East West Bancorp had a net margin of 35.42% and a return on equity of 15.78%. During the same quarter in the prior year, the company posted $1.13 EPS. As a group, equities research analysts anticipate that East West Bancorp will post 4.92 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Handelsbanken Fonder AB lifted its stake in shares of East West Bancorp by 10.2% in the 2nd quarter. Handelsbanken Fonder AB now owns 2,663,951 shares of the financial services provider’s stock worth $124,593,000 after purchasing an additional 246,578 shares during the period. Denali Advisors LLC bought a new position in shares of East West Bancorp in the 2nd quarter worth approximately $1,515,000. Amundi Pioneer Asset Management Inc. lifted its stake in shares of East West Bancorp by 1.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 201,028 shares of the financial services provider’s stock worth $9,643,000 after purchasing an additional 2,791 shares during the period. FMR LLC lifted its stake in shares of East West Bancorp by 51.5% in the 1st quarter. FMR LLC now owns 510,524 shares of the financial services provider’s stock worth $24,490,000 after purchasing an additional 173,633 shares during the period. Finally, Laurel Wealth Advisors Inc. bought a new position in shares of East West Bancorp in the 1st quarter worth approximately $482,000. Institutional investors and hedge funds own 88.81% 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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

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