Pacific Global Investment Management Co Lowers stake in East West Bancorp (EWBC)

East West Bancorp (EWBC) : Pacific Global Investment Management Co reduced its stake in East West Bancorp by 1.69% during the most recent quarter end. The investment management company now holds a total of 201,504 shares of East West Bancorp which is valued at $9,424,342 after selling 3,469 shares in East West Bancorp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.East West Bancorp makes up approximately 2.00% of Pacific Global Investment Management Co’s portfolio.

Other Hedge Funds, Including , D. E. Shaw boosted its stake in EWBC in the latest quarter, The investment management firm added 72,593 additional shares and now holds a total of 366,097 shares of East West Bancorp which is valued at $16,415,789. East West Bancorp makes up approx 0.04% of D. E. Shaw’s portfolio. Nomura Asset Management Co Ltd sold out all of its stake in EWBC during the most recent quarter. The investment firm sold 2,010 shares of EWBC which is valued $87,515.Lord Abbett boosted its stake in EWBC in the latest quarter, The investment management firm added 348,658 additional shares and now holds a total of 5,480,885 shares of East West Bancorp which is valued at $238,637,733. East West Bancorp makes up approx 0.75% of Lord Abbett’s portfolio.Advisor Group reduced its stake in EWBC by selling 295 shares or 7.16% in the most recent quarter. The Hedge Fund company now holds 3,827 shares of EWBC which is valued at $159,892.

East West Bancorp closed down -0.01 points or -0.02% at $46.71 with 9,62,234 shares getting traded on Monday. Post opening the session at $46.73, the shares hit an intraday low of $46.45 and an intraday high of $46.97 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, East West Bancorp reported $0.76 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Oct 19, 2016. Analyst had a consensus of $0.69. The company had revenue of $303.40 million for the quarter, compared to analysts expectations of $294.65 million. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.

East West Bancorp Inc. (East West) is a bank holding company. East West’s principal business is to serve as a holding company for East West Bank (Bank) and other banking or banking-related subsidiaries. The Bank offers deposit products including the traditional range of personal and business checking and savings accounts time deposits and individual retirement accounts travelers’ checks safe deposit boxes and MasterCard and Visa merchant deposit services. The Bank’s lending activities include commercial and residential real estate construction trade finance and commercial business including accounts receivable small business administration (SBA) inventory and working capital loans. The Bank provides commercial business loans to small and medium-sized businesses. In addition the Bank is focused on providing financing to clients needing a financial bridge that facilitates their business transactions between Asia and the United States.

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