Laurion Capital Management LP Has $3.35 Million Position in East West Bancorp, Inc. (EWBC)

Laurion Capital Management LP increased its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 752.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,090 shares of the financial services provider’s stock after buying an additional 50,390 shares during the quarter. Laurion Capital Management LP’s holdings in East West Bancorp were worth $3,345,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Swiss National Bank grew its position in East West Bancorp by 0.5% during the first quarter. Swiss National Bank now owns 238,160 shares of the financial services provider’s stock worth $12,291,000 after buying an additional 1,300 shares in the last quarter. UBS Group AG grew its position in East West Bancorp by 145.6% during the first quarter. UBS Group AG now owns 103,778 shares of the financial services provider’s stock worth $5,356,000 after buying an additional 61,527 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in East West Bancorp during the first quarter worth approximately $1,251,000. Clinton Group Inc. acquired a new stake in East West Bancorp during the first quarter worth approximately $1,500,000. Finally, Principal Financial Group Inc. grew its position in East West Bancorp by 128.7% during the second quarter. Principal Financial Group Inc. now owns 2,951,316 shares of the financial services provider’s stock worth $172,888,000 after buying an additional 1,660,844 shares in the last quarter. 90.48% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued a “hold” rating and set a $57.00 price target on shares of East West Bancorp in a research report on Monday, May 22nd. Deutsche Bank AG downgraded East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 price target on the stock. in a research report on Friday, July 14th. Morgan Stanley increased their price target on East West Bancorp from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 6th. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Monday, July 31st. Finally, Piper Jaffray Companies set a $68.00 price target on East West Bancorp and gave the stock a “buy” rating in a research report on Saturday, June 17th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $62.88.

Shares of East West Bancorp, Inc. (NASDAQ:EWBC) opened at 56.12 on Tuesday. The firm has a market cap of $8.11 billion, a P/E ratio of 16.03 and a beta of 1.43. The firm has a 50 day moving average price of $55.81 and a 200-day moving average price of $55.36. East West Bancorp, Inc. has a one year low of $35.53 and a one year high of $60.42.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share for the quarter, hitting the consensus estimate of $0.81. The firm had revenue of $337.49 million for the quarter, compared to analysts’ expectations of $329.32 million. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Analysts forecast that East West Bancorp, Inc. will post $3.74 earnings per share for the current year.

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East West Bancorp Profile

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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