Laurel Wealth Advisors Inc. Invests $482,000 in East West Bancorp, Inc. (NASDAQ:EWBC)

Laurel Wealth Advisors Inc. bought a new position in East West Bancorp, Inc. (NASDAQ:EWBC) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 10,040 shares of the financial services provider’s stock, valued at approximately $482,000.

Several other large investors have also recently made changes to their positions in EWBC. TIAA CREF Investment Management LLC increased its position in East West Bancorp by 12.5% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 547,933 shares of the financial services provider’s stock valued at $33,079,000 after buying an additional 60,831 shares in the last quarter. Vanguard Group Inc boosted its stake in East West Bancorp by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 13,297,189 shares of the financial services provider’s stock valued at $802,751,000 after purchasing an additional 187,861 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in East West Bancorp by 18.4% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 3,954 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 614 shares during the last quarter. TD Asset Management Inc. boosted its stake in shares of East West Bancorp by 84.1% in the 4th quarter. TD Asset Management Inc. now owns 78,976 shares of the financial services provider’s stock worth $3,438,000 after buying an additional 36,076 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its stake in shares of 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 buying an additional 379 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

EWBC traded down $0.82 on Wednesday, hitting $45.15. The company had a trading volume of 609,065 shares, compared to its average volume of 932,427. The firm has a market cap of $6.69 billion, a P/E ratio of 9.69, a PEG ratio of 1.02 and a beta of 1.62. East West Bancorp, Inc. has a 12-month low of $40.05 and a 12-month high of $68.06. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. The company’s fifty day moving average is $45.07.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.06). The company had revenue of $404.59 million during the quarter, compared to analysts’ expectations of $411.11 million. East West Bancorp had a return on equity of 15.78% and a net margin of 35.42%. During the same quarter in the prior year, the business posted $1.13 EPS. On average, sell-side analysts anticipate that East West Bancorp, Inc. will post 4.94 EPS for the current year.

A number of equities analysts recently commented on the company. Zacks Investment Research raised Booz Allen Hamilton from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Friday, June 28th. Wedbush reaffirmed a “buy” rating and issued a $35.00 target price on shares of Lexicon Pharmaceuticals in a report on Monday, June 3rd. Morgan Stanley raised Dongfeng Motor Group from an “equal weight” rating to an “overweight” rating in a report on Monday, July 1st. Raymond James cut First Midwest Bancorp to a “hold” rating in a report on Monday. Finally, ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. East West Bancorp currently has an average rating of “Buy” and an average target price of $61.38.

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.

Further Reading: What is Net Asset Value (NAV)?

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

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