East West Bancorp, Inc. (EWBC) Stake Lessened by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC lowered its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 5.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 649,408 shares of the financial services provider’s stock after selling 33,823 shares during the period. TIAA CREF Investment Management LLC’s holdings in East West Bancorp were worth $39,503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. lifted its position in shares of East West Bancorp by 12.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 8,130 shares of the financial services provider’s stock worth $486,000 after purchasing an additional 873 shares during the period. Stephens Inc. AR lifted its position in shares of East West Bancorp by 10.4% in the 3rd quarter. Stephens Inc. AR now owns 9,541 shares of the financial services provider’s stock worth $570,000 after purchasing an additional 900 shares during the period. Public Employees Retirement Association of Colorado lifted its position in shares of East West Bancorp by 0.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 312,925 shares of the financial services provider’s stock worth $19,035,000 after purchasing an additional 915 shares during the period. Bronfman E.L. Rothschild L.P. lifted its position in shares of East West Bancorp by 25.0% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 5,046 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 1,008 shares during the period. Finally, Barings LLC lifted its position in shares of East West Bancorp by 4.5% in the 4th quarter. Barings LLC now owns 25,300 shares of the financial services provider’s stock worth $1,539,000 after purchasing an additional 1,100 shares during the period. Hedge funds and other institutional investors own 91.66% of the company’s stock.

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A number of research analysts have recently issued reports on the stock. Wells Fargo restated an “outperform” rating and issued a $72.00 price target (up previously from $65.00) on shares of East West Bancorp in a research report on Tuesday, January 9th. Morgan Stanley boosted their price target on shares of East West Bancorp from $61.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Sandler O’Neill restated a “buy” rating and issued a $76.00 price target on shares of East West Bancorp in a research report on Friday, January 26th. Barclays boosted their target price on shares of East West Bancorp from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $79.00 target price on shares of East West Bancorp in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $70.08.

EWBC stock opened at $60.50 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98. East West Bancorp, Inc. has a 1 year low of $48.07 and a 1 year high of $69.25. The stock has a market cap of $9,103.38, a price-to-earnings ratio of 18.25, a P/E/G ratio of 1.37 and a beta of 1.40.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.04). East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. The company had revenue of $365.06 million for the quarter, compared to analyst estimates of $359.43 million. During the same quarter in the previous year, the firm earned $0.76 EPS. The firm’s revenue was up 13.5% on a year-over-year basis. research analysts expect that East West Bancorp, Inc. will post 4.39 earnings per share for the current fiscal year.

In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $68.50, for a total transaction of $137,000.00. Following the completion of the sale, the director now owns 21,599 shares in the company, valued at approximately $1,479,531.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Irene H. Oh sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $68.29, for a total transaction of $341,450.00. Following the sale, the chief financial officer now owns 38,021 shares of the company’s stock, valued at approximately $2,596,454.09. The disclosure for this sale can be found here. Insiders have sold a total of 9,461 shares of company stock valued at $641,846 in the last 90 days. 0.88% of the stock is currently owned by company insiders.

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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.

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

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