East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by Toronto Dominion Bank

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Toronto Dominion Bank lessened its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 12.9% in the 2nd quarter, Holdings Channel reports. The fund owned 24,070 shares of the financial services provider’s stock after selling 3,569 shares during the period. Toronto Dominion Bank’s holdings in East West Bancorp were worth $1,125,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in EWBC. Advantage Investment Management LLC lifted its stake in shares of East West Bancorp by 64.1% in the second quarter. Advantage Investment Management LLC now owns 717 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 280 shares during the period. QCI Asset Management Inc. NY acquired a new stake in shares of East West Bancorp in the second quarter valued at about $37,000. FTB Advisors Inc. acquired a new stake in shares of East West Bancorp in the second quarter valued at about $44,000. Meeder Asset Management Inc. lifted its stake in shares of East West Bancorp by 1,042.9% in the second quarter. Meeder Asset Management Inc. now owns 960 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 876 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of East West Bancorp in the second quarter valued at about $47,000. Institutional investors own 88.39% of the company’s stock.

Several analysts recently commented on EWBC shares. Raymond James cut shares of East West Bancorp from a “market perform” rating to an “underperform” rating in a research note on Tuesday. SunTrust Banks reduced their price objective on shares of East West Bancorp from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Zacks Investment Research upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating and set a $45.00 price objective for the company in a research note on Friday, October 4th. Morgan Stanley upgraded shares of East West Bancorp from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $59.00 to $57.00 in a research note on Monday, July 1st. Finally, BMO Capital Markets cut shares of East West Bancorp from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $51.00 to $44.00 in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. East West Bancorp has an average rating of “Hold” and an average target price of $53.17.

In other news, Director Rudolph Estrada purchased 1,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average cost of $38.51 per share, for a total transaction of $38,510.00. Following the completion of the acquisition, the director now directly owns 18,603 shares in the company, valued at approximately $716,401.53. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Catherine Zhou purchased 2,512 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $39.82 per share, with a total value of $100,027.84. Following the completion of the acquisition, the executive vice president now owns 2,512 shares of the company’s stock, valued at $100,027.84. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 38,052 shares of company stock valued at $1,478,330. 0.61% of the stock is currently owned by company insiders.

Shares of NASDAQ EWBC traded up $0.55 during midday trading on Wednesday, hitting $40.27. The company had a trading volume of 27,212 shares, compared to its average volume of 942,971. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 8.64, a price-to-earnings-growth ratio of 0.87 and a beta of 1.69. The business has a 50-day simple moving average of $42.61 and a two-hundred day simple moving average of $45.84. East West Bancorp, Inc. has a twelve month low of $37.69 and a twelve month high of $61.50.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.24. The company had revenue of $420.09 million during the quarter, compared to analysts’ expectations of $416.35 million. East West Bancorp had a net margin of 32.92% and a return on equity of 15.42%. During the same quarter in the previous year, the business posted $1.18 earnings per share. On average, equities analysts forecast that East West Bancorp, Inc. will post 4.86 EPS for the current 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 businesses and individuals in the United States and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

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

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