Trillium Asset Management LLC Trims Stock Position in East West Bancorp, Inc. $EWBC

Trillium Asset Management LLC lessened its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 7.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 218,072 shares of the financial services provider’s stock after selling 17,984 shares during the period. Trillium Asset Management LLC’s holdings in East West Bancorp were worth $22,021,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its stake in East West Bancorp by 1,971.4% in the 1st quarter. Picton Mahoney Asset Management now owns 290 shares of the financial services provider’s stock valued at $26,000 after buying an additional 276 shares in the last quarter. Park Place Capital Corp purchased a new stake in shares of East West Bancorp in the second quarter valued at $27,000. WPG Advisers LLC purchased a new stake in East West Bancorp during the 1st quarter worth about $28,000. SVB Wealth LLC purchased a new stake in East West Bancorp during the 1st quarter worth about $29,000. Finally, Chung Wu Investment Group LLC purchased a new position in East West Bancorp in the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Insider Buying and Selling

In related news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $100.04, for a total transaction of $1,000,400.00. Following the sale, the insider directly owned 45,500 shares in the company, valued at approximately $4,551,820. This trade represents a 18.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gary Teo sold 6,550 shares of East West Bancorp stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $106.47, for a total transaction of $697,378.50. Following the sale, the executive vice president owned 12,235 shares in the company, valued at $1,302,660.45. This represents a 34.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 41,220 shares of company stock valued at $4,343,878 over the last ninety days. Insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Truist Financial raised their price target on shares of East West Bancorp from $112.00 to $116.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. TD Cowen started coverage on East West Bancorp in a research note on Thursday, September 25th. They set a “buy” rating and a $139.00 price target on the stock. Wall Street Zen upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Piper Sandler increased their price objective on shares of East West Bancorp from $100.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, September 8th. Finally, Cantor Fitzgerald began coverage on shares of East West Bancorp in a report on Wednesday, September 10th. They set an “overweight” rating and a $124.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, East West Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.08.

East West Bancorp Stock Performance

East West Bancorp stock opened at $99.96 on Wednesday. East West Bancorp, Inc. has a 12 month low of $68.27 and a 12 month high of $113.95. The stock’s 50-day moving average is $104.66 and its 200-day moving average is $99.85. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $13.78 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 1.12 and a beta of 0.93.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Monday, December 11th. The financial services provider reported $2.08 EPS for the quarter. East West Bancorp had a net margin of 27.16% and a return on equity of 15.55%. The firm had revenue of $627.36 million for the quarter. Equities analysts anticipate that East West Bancorp, Inc. will post 8.85 earnings per share for the current year.

East West Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, November 3rd. East West Bancorp’s dividend payout ratio (DPR) is currently 26.46%.

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 businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.