Amundi Sells 27,200 Shares of East West Bancorp, Inc. $EWBC

Amundi lowered its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 61.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,864 shares of the financial services provider’s stock after selling 27,200 shares during the quarter. Amundi’s holdings in East West Bancorp were worth $1,800,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in EWBC. Atlantic Union Bankshares Corp bought a new stake in East West Bancorp in the 4th quarter worth approximately $31,000. Kelleher Financial Advisors bought a new position in shares of East West Bancorp during the 3rd quarter valued at $31,000. Signaturefd LLC grew its holdings in shares of East West Bancorp by 115.0% during the 4th quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 184 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in 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 during the period. Finally, Quarry LP raised its position in East West Bancorp by 35.4% in the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 102 shares during the period. 89.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EWBC. Morgan Stanley upped their price target on shares of East West Bancorp from $128.00 to $131.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Wells Fargo & Company lifted their price objective on East West Bancorp from $125.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Citigroup reissued a “buy” rating on shares of East West Bancorp in a research note on Thursday, July 23rd. TD Cowen increased their target price on East West Bancorp from $137.00 to $143.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, DA Davidson raised their price target on East West Bancorp from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.62.

Insider Activity at East West Bancorp

In other news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $123.50, for a total value of $1,235,000.00. Following the completion of the transaction, the insider owned 46,974 shares in the company, valued at $5,801,289. The trade was a 17.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Irene H. Oh sold 11,211 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $129.00, for a total transaction of $1,446,219.00. Following the completion of the sale, the insider owned 85,998 shares in the company, valued at $11,093,742. This represents a 11.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 32,511 shares of company stock worth $4,177,721 over the last ninety days. 0.94% of the stock is currently owned by insiders.

East West Bancorp Trading Down 0.1%

NASDAQ EWBC opened at $131.70 on Friday. East West Bancorp, Inc. has a twelve month low of $92.67 and a twelve month high of $136.24. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average is $129.92 and its 200 day moving average is $120.61. The firm has a market capitalization of $18.04 billion, a PE ratio of 12.66, a P/E/G ratio of 1.53 and a beta of 0.94.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.02. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The firm had revenue of $789.98 million during the quarter, compared to the consensus estimate of $784.47 million. During the same period last year, the company earned $2.24 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. Research analysts forecast that East West Bancorp, Inc. will post 10.59 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.20 annualized dividend and a yield of 2.4%. East West Bancorp’s dividend payout ratio is 30.77%.

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.