Trillium Asset Management LLC Sells 11,146 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Trillium Asset Management LLC reduced its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 3.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 272,525 shares of the financial services provider’s stock after selling 11,146 shares during the period. Trillium Asset Management LLC’s holdings in East West Bancorp were worth $21,560,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of EWBC. Riverview Trust Co bought a new position in East West Bancorp during the first quarter valued at $25,000. YHB Investment Advisors Inc. bought a new position in shares of East West Bancorp during the 1st quarter worth $27,000. Kapitalo Investimentos Ltda purchased a new stake in East West Bancorp in the 4th quarter worth about $29,000. Rise Advisors LLC bought a new stake in East West Bancorp in the 1st quarter valued at about $30,000. Finally, Mather Group LLC. purchased a new stake in East West Bancorp during the first quarter valued at about $35,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Price Performance

Shares of EWBC stock traded up $0.13 during trading on Friday, hitting $79.92. The company had a trading volume of 645,401 shares, compared to its average volume of 1,040,396. East West Bancorp, Inc. has a 52 week low of $49.59 and a 52 week high of $82.50. The stock has a market capitalization of $11.12 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 4.89 and a beta of 1.32. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The stock’s 50-day moving average is $73.73 and its two-hundred day moving average is $73.81.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.08. East West Bancorp had a net margin of 26.78% and a return on equity of 17.43%. The firm had revenue of $644.13 million for the quarter, compared to analysts’ expectations of $636.77 million. During the same quarter last year, the company posted $2.32 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, analysts predict that East West Bancorp, Inc. will post 8.02 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.75%. The ex-dividend date was Thursday, May 2nd. East West Bancorp’s dividend payout ratio (DPR) is currently 27.71%.

Wall Street Analyst Weigh In

A number of analysts recently commented on EWBC shares. Wedbush restated an “outperform” rating and set a $90.00 price target on shares of East West Bancorp in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods increased their target price on East West Bancorp from $82.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Jefferies Financial Group cut their price target on East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Barclays decreased their price objective on East West Bancorp from $106.00 to $105.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Finally, Truist Financial reduced their target price on East West Bancorp from $86.00 to $80.00 and set a “buy” rating for the company in a report on Monday, July 8th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.31.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $73.76, for a total transaction of $590,080.00. Following the transaction, the insider now directly owns 57,403 shares in the company, valued at $4,234,045.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Irene H. Oh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $77.58, for a total transaction of $775,800.00. Following the transaction, the insider now directly owns 127,193 shares of the company’s stock, valued at $9,867,632.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Douglas Paul Krause sold 8,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $73.76, for a total value of $590,080.00. Following the completion of the sale, the insider now directly owns 57,403 shares of the company’s stock, valued at approximately $4,234,045.28. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

East West Bancorp Profile

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.