Cipher Capital LP Buys 7,709 Shares of East West Bancorp, Inc. (EWBC)

Cipher Capital LP increased its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 10.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,907 shares of the financial services provider’s stock after purchasing an additional 7,709 shares during the period. Cipher Capital LP owned 0.06% of East West Bancorp worth $4,974,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of EWBC. Capstone Asset Management Co. grew its stake in shares of East West Bancorp by 5.0% during the first quarter. Capstone Asset Management Co. now owns 10,804 shares of the financial services provider’s stock worth $558,000 after purchasing an additional 510 shares in the last quarter. Glen Harbor Capital Management LLC grew its stake in shares of East West Bancorp by 30.1% during the first quarter. Glen Harbor Capital Management LLC now owns 8,272 shares of the financial services provider’s stock worth $427,000 after purchasing an additional 1,914 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of East West Bancorp by 1.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 50,487 shares of the financial services provider’s stock worth $2,606,000 after purchasing an additional 700 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of East West Bancorp by 59.5% during the first quarter. Canada Pension Plan Investment Board now owns 53,100 shares of the financial services provider’s stock worth $2,740,000 after purchasing an additional 19,800 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in shares of East West Bancorp by 8.3% during the first quarter. Great West Life Assurance Co. Can now owns 100,076 shares of the financial services provider’s stock worth $5,164,000 after purchasing an additional 7,670 shares in the last quarter. Hedge funds and other institutional investors own 91.34% of the company’s stock.

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Several equities analysts have issued reports on EWBC shares. Piper Jaffray Companies set a $68.00 price objective on shares of East West Bancorp and gave the company a “buy” rating in a research note on Saturday, June 17th. BidaskClub raised shares of East West Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Tuesday, June 6th. Morgan Stanley restated an “equal weight” rating and set a $60.00 target price (up previously from $59.00) on shares of East West Bancorp in a research report on Thursday, July 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $57.00 price target on shares of East West Bancorp in a research note on Monday, May 22nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $62.88.

East West Bancorp, Inc. (NASDAQ:EWBC) opened at 55.97 on Friday. The stock has a market capitalization of $8.09 billion, a P/E ratio of 15.99 and a beta of 1.43. The stock has a 50 day moving average of $55.82 and a 200 day moving average of $55.35. East West Bancorp, Inc. has a 52-week low of $35.53 and a 52-week high of $60.42.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. The company had revenue of $337.49 million for the quarter, compared to analyst estimates of $329.32 million. East West Bancorp had a return on equity of 13.31% and a net margin of 34.63%. During the same period in the prior year, the firm earned $0.71 earnings per share. On average, equities research analysts forecast that East West Bancorp, Inc. will post $3.74 EPS for the current year.

About East West Bancorp

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.

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

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