Short Interest in East West Bancorp, Inc. (NASDAQ:EWBC) Drops By 38.2%

Share on StockTwits

East West Bancorp, Inc. (NASDAQ:EWBC) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 1,490,000 shares, a drop of 38.2% from the August 30th total of 2,410,000 shares. Based on an average daily trading volume, of 959,300 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.0% of the company’s shares are short sold.

Several research firms have weighed in on EWBC. SunTrust Banks dropped their price objective on East West Bancorp from $55.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. BidaskClub lowered East West Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday. Raymond James lowered East West Bancorp from a “market perform” rating to an “underperform” rating in a research report on Tuesday. BMO Capital Markets lowered East West Bancorp from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $51.00 to $44.00 in a research report on Monday, August 19th. Finally, Morgan Stanley raised East West Bancorp from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $59.00 to $57.00 in a research report on Monday, July 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $53.17.

Shares of NASDAQ:EWBC traded up $1.44 during trading on Friday, hitting $42.81. The stock had a trading volume of 855,956 shares, compared to its average volume of 965,918. East West Bancorp has a 12 month low of $37.69 and a 12 month high of $58.88. The company has a market capitalization of $5.91 billion, a PE ratio of 9.19, a PEG ratio of 0.84 and a beta of 1.69. The firm’s fifty day moving average is $42.71 and its 200 day moving average is $45.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.19.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.24. East West Bancorp had a return on equity of 15.42% and a net margin of 32.92%. The firm had revenue of $420.09 million during the quarter, compared to analyst estimates of $416.35 million. During the same quarter in the prior year, the company earned $1.18 EPS. Equities research analysts expect that East West Bancorp will post 4.86 EPS for the current fiscal year.

In other East West Bancorp news, CFO Irene H. Oh acquired 6,400 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was acquired at an average price of $39.10 per share, for a total transaction of $250,240.00. Following the acquisition, the chief financial officer now owns 59,589 shares in the company, valued at approximately $2,329,929.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dominic Ng acquired 25,840 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was acquired at an average price of $38.71 per share, with a total value of $1,000,266.40. Following the acquisition, the chief executive officer now owns 538,250 shares in the company, valued at approximately $20,835,657.50. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 38,052 shares of company stock valued at $1,478,330. Company insiders own 0.61% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Invesco Ltd. increased its position in East West Bancorp by 1,062.0% during the 2nd quarter. Invesco Ltd. now owns 2,218,803 shares of the financial services provider’s stock valued at $103,773,000 after buying an additional 2,027,851 shares in the last quarter. Nuveen Asset Management LLC increased its position in East West Bancorp by 130.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,446,685 shares of the financial services provider’s stock valued at $67,662,000 after buying an additional 817,822 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in East West Bancorp by 63.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,765,284 shares of the financial services provider’s stock valued at $82,562,000 after buying an additional 686,664 shares in the last quarter. Allianz Asset Management GmbH increased its position in East West Bancorp by 117.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 588,669 shares of the financial services provider’s stock valued at $27,532,000 after buying an additional 317,801 shares in the last quarter. Finally, Boston Partners increased its position in East West Bancorp by 6.6% during the 2nd quarter. Boston Partners now owns 4,991,542 shares of the financial services provider’s stock valued at $233,427,000 after buying an additional 309,257 shares in the last quarter. 88.39% of the stock is owned by hedge funds and other institutional investors.

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.

Recommended Story: Municipal Bonds

Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.