East West Bancorp, Inc. (EWBC) Holdings Cut by Brandywine Global Investment Management LLC

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Brandywine Global Investment Management LLC lessened its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 0.7% during the fourth quarter, Holdings Channel reports. The fund owned 131,315 shares of the financial services provider’s stock after selling 903 shares during the period. Brandywine Global Investment Management LLC’s holdings in East West Bancorp were worth $5,717,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Cigna Investments Inc. New grew its holdings in East West Bancorp by 3.5% in the 4th quarter. Cigna Investments Inc. New now owns 7,249 shares of the financial services provider’s stock worth $316,000 after acquiring an additional 245 shares during the last quarter. Condor Capital Management grew its holdings in East West Bancorp by 1.2% in the 4th quarter. Condor Capital Management now owns 22,813 shares of the financial services provider’s stock worth $993,000 after acquiring an additional 263 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in East West Bancorp by 1.9% in the 4th quarter. State of Alaska Department of Revenue now owns 15,519 shares of the financial services provider’s stock worth $675,000 after acquiring an additional 292 shares during the last quarter. M&T Bank Corp grew its holdings in East West Bancorp by 0.8% in the 4th quarter. M&T Bank Corp now owns 48,013 shares of the financial services provider’s stock worth $2,090,000 after acquiring an additional 375 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in East West Bancorp by 3.3% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 11,752 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 379 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Rudolph Estrada sold 1,902 shares of East West Bancorp stock in a transaction dated Monday, January 28th. The shares were sold at an average price of $52.64, for a total transaction of $100,121.28. Following the sale, the director now owns 15,089 shares of the company’s stock, valued at approximately $794,284.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack C. Liu sold 2,108 shares of East West Bancorp stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $55.20, for a total transaction of $116,361.60. Following the sale, the director now directly owns 18,857 shares in the company, valued at approximately $1,040,906.40. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Shares of EWBC opened at $49.40 on Friday. The stock has a market cap of $7.31 billion, a PE ratio of 10.81, a P/E/G ratio of 0.94 and a beta of 1.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.01 and a current ratio of 1.01. East West Bancorp, Inc. has a 1-year low of $40.05 and a 1-year high of $73.98.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, January 24th. The financial services provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.02. The firm had revenue of $411.11 million for the quarter, compared to analyst estimates of $408.61 million. East West Bancorp had a net margin of 37.78% and a return on equity of 16.26%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 EPS. Research analysts expect that East West Bancorp, Inc. will post 5.1 EPS for the current year.

EWBC has been the topic of a number of recent analyst reports. BidaskClub raised shares of East West Bancorp from a “hold” rating to a “buy” rating in a report on Friday, February 22nd. Barclays reissued a “buy” rating and issued a $69.00 price target on shares of East West Bancorp in a report on Friday, January 11th. ValuEngine raised shares of East West Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. TheStreet lowered shares of East West Bancorp from a “b” rating to a “c+” rating in a research note on Friday, December 21st. Finally, Morgan Stanley cut their target price on shares of East West Bancorp from $67.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $67.64.

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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 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.

See Also: Leveraged Buyout (LBO)

Want to see what other hedge funds are holding EWBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for East West Bancorp, Inc. (NASDAQ:EWBC).

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

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