East West Bancorp, Inc. (EWBC) Holding Grow by Cerebellum GP LLC

East West Bancorp, Inc. (EWBC) Holding Grow by Cerebellum GP LLC

Cerebellum GP LLC grew its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 114.1% during the fourth quarter, HoldingsChannel reports. The firm owned 6,251 shares of the financial services provider’s stock after purchasing an additional 3,332 shares during the period. East West Bancorp makes up approximately 0.2% of Cerebellum GP LLC’s portfolio, making the stock its 10th biggest holding. Cerebellum GP LLC’s holdings in East West Bancorp were worth $272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. BTIM Corp. raised its position in shares of East West Bancorp by 2.3% during the third quarter. BTIM Corp. now owns 162,513 shares of the financial services provider’s stock worth $9,810,000 after acquiring an additional 3,670 shares during the last quarter. Soros Fund Management LLC raised its position in shares of East West Bancorp by 37.2% during the second quarter. Soros Fund Management LLC now owns 61,196 shares of the financial services provider’s stock worth $3,990,000 after acquiring an additional 16,596 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of East West Bancorp by 37.3% during the second quarter. Renaissance Technologies LLC now owns 311,133 shares of the financial services provider’s stock worth $20,286,000 after acquiring an additional 84,500 shares during the last quarter. Bank of America Corp DE raised its position in shares of East West Bancorp by 6.1% during the second quarter. Bank of America Corp DE now owns 1,448,128 shares of the financial services provider’s stock worth $94,418,000 after acquiring an additional 83,674 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of East West Bancorp by 2,245.0% during the third quarter. Marshall Wace LLP now owns 201,644 shares of the financial services provider’s stock worth $12,173,000 after acquiring an additional 193,045 shares during the last quarter. Institutional investors own 87.80% of the company’s stock.

EWBC has been the subject of a number of analyst reports. BidaskClub upgraded East West Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 30th. Morgan Stanley lowered their price objective on East West Bancorp from $67.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 11th. Wells Fargo & Co set a $76.00 price objective on East West Bancorp and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Zacks Investment Research downgraded East West Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, September 24th. Finally, BMO Capital Markets lowered their target price on East West Bancorp from $73.00 to $68.00 and set an “outperform” rating for the company in a report on Friday, October 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $70.73.

EWBC stock traded up $0.01 during mid-day trading on Thursday, reaching $47.28. The company’s stock had a trading volume of 52,852 shares, compared to its average volume of 922,607. The company has a market cap of $6.65 billion, a P/E ratio of 13.68, a PEG ratio of 0.86 and a beta of 1.49. 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 12 month low of $40.05 and a 12 month high of $73.98.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, October 18th. The financial services provider reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.03. The business had revenue of $395.22 million during the quarter, compared to the consensus estimate of $398.25 million. East West Bancorp had a return on equity of 15.70% and a net margin of 34.80%. During the same period in the previous year, the company posted $0.91 earnings per share. On average, research analysts predict that East West Bancorp, Inc. will post 4.63 earnings per share 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 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.

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