Chartwell Investment Partners LLC Acquires 2,167 Shares of East West Bancorp, Inc. (EWBC)

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Chartwell Investment Partners LLC increased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 6.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,659 shares of the financial services provider’s stock after buying an additional 2,167 shares during the period. Chartwell Investment Partners LLC’s holdings in East West Bancorp were worth $2,260,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. increased its position in shares of East West Bancorp by 5.0% in the 1st quarter. BlackRock Inc. now owns 14,450,262 shares of the financial services provider’s stock valued at $903,719,000 after purchasing an additional 683,047 shares during the last quarter. Boston Partners increased its position in shares of East West Bancorp by 1.8% in the 2nd quarter. Boston Partners now owns 6,478,342 shares of the financial services provider’s stock valued at $422,388,000 after purchasing an additional 115,315 shares during the last quarter. Aristotle Capital Management LLC increased its position in shares of East West Bancorp by 70.3% in the 1st quarter. Aristotle Capital Management LLC now owns 4,873,367 shares of the financial services provider’s stock valued at $304,780,000 after purchasing an additional 2,011,839 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of East West Bancorp by 15.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,771,173 shares of the financial services provider’s stock valued at $311,079,000 after purchasing an additional 627,329 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of East West Bancorp by 0.9% in the 2nd quarter. Jennison Associates LLC now owns 2,802,713 shares of the financial services provider’s stock valued at $182,737,000 after purchasing an additional 25,720 shares during the last quarter. 88.91% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Dominic Ng sold 5,771 shares of the stock in a transaction on Monday, June 4th. The shares were sold at an average price of $71.27, for a total transaction of $411,299.17. Following the completion of the sale, the chief executive officer now owns 453,306 shares in the company, valued at approximately $32,307,118.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Molly Campbell sold 356 shares of the stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $70.36, for a total transaction of $25,048.16. Following the sale, the director now owns 4,127 shares of the company’s stock, valued at approximately $290,375.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,062 shares of company stock valued at $4,481,473. 0.88% of the stock is owned by company insiders.

A number of equities research analysts have commented on EWBC shares. BidaskClub downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. Keefe, Bruyette & Woods raised shares of East West Bancorp from a “market perform” rating to an “outperform” rating and set a $41.00 price objective on the stock in a research report on Friday, July 20th. Zacks Investment Research upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a report on Wednesday, June 20th. Barclays lowered their target price on shares of East West Bancorp from $78.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, July 20th. Finally, Deutsche Bank upped their target price on shares of East West Bancorp from $74.00 to $76.00 and gave the company a “hold” rating in a report on Friday, May 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. East West Bancorp presently has a consensus rating of “Hold” and an average target price of $71.77.

Shares of NASDAQ:EWBC opened at $63.64 on Thursday. The firm has a market cap of $9.26 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 1.32 and a beta of 1.37. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. East West Bancorp, Inc. has a 1-year low of $52.86 and a 1-year high of $73.98.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Thursday, July 19th. The financial services provider reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.09. The firm had revenue of $389.95 million during the quarter, compared to analysts’ expectations of $382.70 million. East West Bancorp had a net margin of 34.15% and a return on equity of 15.12%. East West Bancorp’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 EPS. research analysts expect that East West Bancorp, Inc. will post 4.61 earnings per share for the current fiscal year.

About East West Bancorp

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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.

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

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