SG Americas Securities LLC Sells 1,605 Shares of East West Bancorp (EWBC)

SG Americas Securities LLC cut its holdings in East West Bancorp (NASDAQ:EWBC) by 5.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,630 shares of the financial services provider’s stock after selling 1,605 shares during the quarter. SG Americas Securities LLC’s holdings in East West Bancorp were worth $1,853,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of EWBC. Sumitomo Mitsui Trust Holdings Inc. lifted its position in East West Bancorp by 0.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 419,124 shares of the financial services provider’s stock worth $26,212,000 after buying an additional 1,196 shares during the last quarter. Hennessy Advisors Inc. lifted its position in East West Bancorp by 52.8% in the first quarter. Hennessy Advisors Inc. now owns 18,330 shares of the financial services provider’s stock worth $1,146,000 after buying an additional 6,330 shares during the last quarter. FDx Advisors Inc. lifted its position in East West Bancorp by 67.2% in the first quarter. FDx Advisors Inc. now owns 28,535 shares of the financial services provider’s stock worth $1,785,000 after buying an additional 11,468 shares during the last quarter. Colonial Trust Advisors lifted its position in East West Bancorp by 36.9% in the fourth quarter. Colonial Trust Advisors now owns 69,539 shares of the financial services provider’s stock worth $4,230,000 after buying an additional 18,751 shares during the last quarter. Finally, Xact Kapitalforvaltning AB lifted its position in East West Bancorp by 3.3% in the fourth quarter. Xact Kapitalforvaltning AB now owns 40,431 shares of the financial services provider’s stock worth $2,459,000 after buying an additional 1,284 shares during the last quarter. 91.23% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Molly Campbell sold 461 shares of East West Bancorp stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $65.11, for a total transaction of $30,015.71. Following the completion of the sale, the director now directly owns 5,448 shares in the company, valued at $354,719.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jack C. Liu sold 1,075 shares of East West Bancorp stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $71.27, for a total value of $76,615.25. Following the sale, the director now owns 19,449 shares of the company’s stock, valued at $1,386,130.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,329 shares of company stock valued at $3,725,639. Corporate insiders own 0.88% of the company’s stock.

EWBC has been the subject of a number of analyst reports. BidaskClub downgraded East West Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. ValuEngine downgraded East West Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, April 18th. DA Davidson lowered their price target on East West Bancorp from $75.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday, April 24th. Sandler O’Neill restated a “buy” rating and issued a $76.00 price target on shares of East West Bancorp in a research report on Friday, January 26th. Finally, Morgan Stanley raised their price target on East West Bancorp from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $72.23.

NASDAQ:EWBC opened at $71.22 on Friday. East West Bancorp has a twelve month low of $70.17 and a twelve month high of $70.95. The firm has a market cap of $10.26 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 1.49 and a beta of 1.42. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Thursday, April 19th. The financial services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.13. East West Bancorp had a return on equity of 14.15% and a net margin of 32.46%. The business had revenue of $401.14 million during the quarter, compared to the consensus estimate of $364.81 million. During the same period last year, the company earned $0.88 earnings per share. sell-side analysts anticipate that East West Bancorp will post 4.52 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, April 30th. This represents a $0.80 annualized dividend and a dividend yield of 1.12%. East West Bancorp’s dividend payout ratio (DPR) is 23.12%.

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

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