Trade Report: Today, East West Bancorp Inc. (EWBC) Position Decreased by Tocqueville Asset Management L.P.

Today, East West Bancorp Inc. (EWBC) Position Decreased by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. reduced its stake in shares of East West Bancorp Inc. (NASDAQ:EWBC) by 13.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 183,200 shares of the financial services provider’s stock after selling 27,800 shares during the period. Tocqueville Asset Management L.P.’s holdings in East West Bancorp were worth $6,262,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in shares of East West Bancorp during the first quarter valued at about $20,704,000. Handelsbanken Fonder AB raised its position in shares of East West Bancorp by 131.3% in the second quarter. Handelsbanken Fonder AB now owns 925,000 shares of the financial services provider’s stock valued at $31,616,000 after buying an additional 525,000 shares during the period. State Street Corp raised its position in shares of East West Bancorp by 8.0% in the first quarter. State Street Corp now owns 6,222,360 shares of the financial services provider’s stock valued at $202,098,000 after buying an additional 461,946 shares during the period. 1832 Asset Management L.P. raised its position in shares of East West Bancorp by 141.7% in the first quarter. 1832 Asset Management L.P. now owns 716,531 shares of the financial services provider’s stock valued at $39,058,000 after buying an additional 420,033 shares during the period. Finally, Bank of Montreal Can acquired a new position in shares of East West Bancorp during the second quarter valued at about $10,640,000. Hedge funds and other institutional investors own 85.41% of the company’s stock.

East West Bancorp Inc. (NASDAQ:EWBC) traded up 0.42% on Tuesday, reaching $38.50. 369,435 shares of the company traded hands. East West Bancorp Inc. has a one year low of $27.25 and a one year high of $43.94. The stock has a market capitalization of $5.55 billion, a PE ratio of 14.10 and a beta of 1.55. The firm has a 50 day moving average of $37.06 and a 200-day moving average of $35.86.

Several research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of East West Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Barclays PLC raised their target price on shares of East West Bancorp from $41.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, October 11th. BMO Capital Markets reaffirmed a “buy” rating and issued a $41.00 target price on shares of East West Bancorp in a research note on Friday, July 22nd. Deutsche Bank AG raised their target price on shares of East West Bancorp from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, October 11th. Finally, Macquarie raised shares of East West Bancorp from a “neutral” rating to an “outperform” rating in a research note on Friday, July 22nd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $43.43.

In other news, Director Jack C. Liu sold 2,101 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $37.35, for a total value of $78,472.35. Following the completion of the transaction, the director now owns 29,006 shares of the company’s stock, valued at $1,083,374.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rudolph Estrada sold 2,888 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $34.62, for a total value of $99,982.56. Following the completion of the transaction, the director now directly owns 15,261 shares of the company’s stock, valued at approximately $528,335.82. The disclosure for this sale can be found here. 0.88% of the stock is owned by insiders.

About East West Bancorp

East West Bancorp, Inc (East West) 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 operates through three segments: Retail Banking, Commercial Banking and Other. The Retail Banking segment focuses primarily on retail operations through the Bank’s branch network.

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