SG Americas Securities LLC Sells 117,058 Shares of East West Bancorp, Inc. $EWBC

SG Americas Securities LLC reduced its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 91.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,310 shares of the financial services provider’s stock after selling 117,058 shares during the quarter. SG Americas Securities LLC’s holdings in East West Bancorp were worth $1,207,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Foster Dykema Cabot & Partners LLC acquired a new stake in East West Bancorp in the third quarter valued at approximately $26,000. Atlantic Union Bankshares Corp acquired a new position in shares of East West Bancorp during the fourth quarter worth approximately $31,000. Kelleher Financial Advisors acquired a new position in shares of East West Bancorp during the third quarter worth approximately $31,000. Signaturefd LLC lifted its holdings in shares of East West Bancorp by 115.0% in the 4th quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 184 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its holdings in shares of East West Bancorp by 44.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.

Insider Activity

In related news, insider Irene H. Oh sold 800 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $133.19, for a total transaction of $106,552.00. Following the transaction, the insider directly owned 84,698 shares of the company’s stock, valued at $11,280,926.62. This trade represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Archana Deskus sold 1,800 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $125.55, for a total transaction of $225,990.00. Following the transaction, the director owned 13,231 shares in the company, valued at approximately $1,661,152.05. This trade represents a 11.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 54,311 shares of company stock worth $6,784,711. 0.94% of the stock is owned by insiders.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $129.30 on Friday. The stock has a market cap of $17.71 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.56 and a beta of 0.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. East West Bancorp, Inc. has a 12-month low of $92.67 and a 12-month high of $136.00. The business’s 50 day moving average is $125.47 and its 200 day moving average is $117.71.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.11. The business had revenue of $773.75 million during the quarter, compared to the consensus estimate of $767.80 million. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.East West Bancorp’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.08 earnings per share. On average, sell-side analysts forecast that East West Bancorp, Inc. will post 10.59 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 4th were paid a $0.80 dividend. The ex-dividend date was Monday, May 4th. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. East West Bancorp’s dividend payout ratio is presently 31.97%.

Analyst Ratings Changes

A number of brokerages have commented on EWBC. Wall Street Zen lowered shares of East West Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. TD Cowen raised their price objective on shares of East West Bancorp from $137.00 to $143.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Truist Financial lifted their price objective on shares of East West Bancorp from $120.00 to $128.00 and gave the company a “hold” rating in a report on Thursday, April 23rd. Barclays decreased their target price on shares of East West Bancorp from $150.00 to $142.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Finally, Morgan Stanley upped their target price on shares of East West Bancorp from $128.00 to $131.00 and gave the stock an “equal weight” rating in a report on Monday. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, East West Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $134.62.

East West Bancorp Company Profile

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.