Nuveen Asset Management LLC Has $3.97 Million Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Nuveen Asset Management LLC lowered its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 12.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 76,979 shares of the financial services provider’s stock after selling 11,050 shares during the period. Nuveen Asset Management LLC owned 0.05% of East West Bancorp worth $3,973,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Janus Capital Management LLC increased its position in East West Bancorp by 570.4% in the first quarter. Janus Capital Management LLC now owns 65,700 shares of the financial services provider’s stock valued at $3,391,000 after buying an additional 55,900 shares during the last quarter. Macquarie Group Ltd. increased its position in East West Bancorp by 1.1% in the first quarter. Macquarie Group Ltd. now owns 4,038,781 shares of the financial services provider’s stock valued at $208,441,000 after buying an additional 45,604 shares during the last quarter. Tudor Investment Corp ET AL increased its position in East West Bancorp by 8.3% in the first quarter. Tudor Investment Corp ET AL now owns 19,881 shares of the financial services provider’s stock valued at $1,026,000 after buying an additional 1,523 shares during the last quarter. Colonial Trust Advisors increased its position in East West Bancorp by 3.7% in the first quarter. Colonial Trust Advisors now owns 30,727 shares of the financial services provider’s stock valued at $1,690,000 after buying an additional 1,100 shares during the last quarter. Finally, Jane Street Group LLC increased its position in East West Bancorp by 160.9% in the first quarter. Jane Street Group LLC now owns 13,163 shares of the financial services provider’s stock valued at $679,000 after buying an additional 8,117 shares during the last quarter. 87.68% of the stock is currently owned by hedge funds and other institutional investors.

East West Bancorp, Inc. (EWBC) traded down 0.71% during midday trading on Friday, reaching $57.00. The company had a trading volume of 848,153 shares. The firm has a market capitalization of $8.23 billion, a P/E ratio of 16.81 and a beta of 1.42. East West Bancorp, Inc. has a one year low of $33.02 and a one year high of $60.42. The stock’s 50 day moving average price is $57.62 and its 200-day moving average price is $54.22.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. East West Bancorp had a return on equity of 13.31% and a net margin of 34.63%. The business had revenue of $337.49 million during the quarter, compared to the consensus estimate of $329.32 million. During the same period in the prior year, the company posted $0.71 EPS. On average, equities research analysts anticipate that East West Bancorp, Inc. will post $3.67 earnings per share for the current year.

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Several research firms have commented on EWBC. Wedbush reissued an “outperform” rating and set a $68.00 target price on shares of East West Bancorp in a research report on Thursday. Deutsche Bank AG downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 target price on the stock. in a research report on Friday, July 14th. BidaskClub downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BMO Capital Markets downgraded shares of East West Bancorp from an “outperform” rating to a “market perform” rating and set a $63.00 target price on the stock. in a research report on Friday, July 7th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $60.00 target price (up from $59.00) on shares of East West Bancorp in a research report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $62.63.

In related news, Director Herman Y. Li sold 4,000 shares of the stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $56.75, for a total value of $227,000.00. Following the completion of the transaction, the director now directly owns 48,000 shares of the company’s stock, valued at approximately $2,724,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Molly Campbell sold 590 shares of the stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $55.93, for a total value of $32,998.70. Following the completion of the transaction, the director now directly owns 3,903 shares of the company’s stock, valued at $218,294.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,713 shares of company stock valued at $1,784,596. 0.88% of the stock is owned by corporate insiders.

About East West Bancorp

East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.

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

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