FMR LLC & Abigail Johnson Report 6.061% Stake in East West Bancorp
Ticker: EWBC · Form: SC 13G · Filed: Feb 9, 2024 · CIK: 1069157
| Field | Detail |
|---|---|
| Company | East West Bancorp Inc (EWBC) |
| Form Type | SC 13G |
| Filed Date | Feb 9, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, SC-13G, insider-holding
TL;DR
**FMR LLC just disclosed a 6.061% stake in East West Bancorp, signaling institutional confidence.**
AI Summary
FMR LLC, a major investment management firm, and its principal owner, Abigail P. Johnson, have reported a 6.061% beneficial ownership stake in East West Bancorp Inc. This translates to 8,542,939 shares of common stock, as disclosed in an SC 13G filing on February 9, 2024. This significant holding by a prominent institutional investor like FMR LLC could signal confidence in East West Bancorp's future, potentially attracting other investors and influencing the stock's perception.
Why It Matters
A large institutional stake like this can be seen as a vote of confidence, potentially stabilizing the stock and attracting further institutional interest.
Risk Assessment
Risk Level: low — This filing indicates a significant, stable institutional investment, which generally reduces risk for other shareholders.
Analyst Insight
Investors should note this significant institutional ownership as a potential positive signal, suggesting a deeper dive into East West Bancorp's fundamentals and FMR LLC's investment thesis.
Key Numbers
- 8,542,939 — Shares Beneficially Owned (Represents the total number of common stock shares of East West Bancorp Inc. held by FMR LLC and Abigail P. Johnson.)
- 6.061% — Percent of Class (Indicates the significant portion of East West Bancorp Inc.'s common stock owned by FMR LLC and Abigail P. Johnson, showing a substantial institutional stake.)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person, principal owner of FMR LLC
- EAST WEST BANCORP INC (company) — issuer of the common stock
- 8,542,939 (dollar_amount) — total shares beneficially owned
- 6.061% (dollar_amount) — percentage of class beneficially owned
Forward-Looking Statements
- East West Bancorp Inc. may see increased investor confidence due to FMR LLC's significant stake. (EAST WEST BANCORP INC) — medium confidence, target: Next 6-12 months
FAQ
Who are the primary reporting persons in this SC 13G filing?
The primary reporting persons are FMR LLC and Abigail P. Johnson, as stated in Item 1 of the filing.
What percentage of East West Bancorp Inc.'s common stock do FMR LLC and Abigail P. Johnson beneficially own?
They beneficially own 6.061% of the common stock, as indicated in Item 11 for both reporting persons and Item 4(b) for FMR LLC.
How many shares of East West Bancorp Inc. common stock are beneficially owned by the reporting persons?
The reporting persons beneficially own 8,542,939 shares of common stock, as shown in Item 7 for both FMR LLC and Abigail P. Johnson, and Item 4(a) for FMR LLC.
What is the CUSIP number for the common stock of East West Bancorp Inc.?
The CUSIP number is 27579R104, as stated in the filing under 'Cusip #27579R104' and Item 2(e).
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the checked box in the filing and Item 3.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding EAST WEST BANCORP INC (EWBC).