East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,396 shares of the financial services provider’s stock after selling 2,271 shares during the quarter. Federated Hermes Inc.’s holdings in East West Bancorp were worth $2,115,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in EWBC. Ruffer LLP acquired a new stake in East West Bancorp during the third quarter worth approximately $33,675,000. Boston Partners raised its holdings in East West Bancorp by 36.4% during the third quarter. Boston Partners now owns 1,827,146 shares of the financial services provider’s stock worth $96,313,000 after purchasing an additional 487,418 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in East West Bancorp by 83.0% during the third quarter. Adage Capital Partners GP L.L.C. now owns 863,619 shares of the financial services provider’s stock worth $45,521,000 after purchasing an additional 391,702 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in East West Bancorp by 392.1% during the third quarter. Schonfeld Strategic Advisors LLC now owns 453,825 shares of the financial services provider’s stock worth $23,921,000 after purchasing an additional 361,597 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in East West Bancorp by 256.6% during the third quarter. AQR Capital Management LLC now owns 487,383 shares of the financial services provider’s stock worth $25,690,000 after purchasing an additional 350,706 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

East West Bancorp Trading Down 0.5 %

NASDAQ:EWBC opened at $75.98 on Monday. East West Bancorp, Inc. has a 1 year low of $41.12 and a 1 year high of $79.54. The stock has a market cap of $10.57 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 0.95 and a beta of 1.39. The business has a fifty day moving average of $74.84 and a 200-day moving average of $68.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.91 and a current ratio of 0.93.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.08. East West Bancorp had a return on equity of 17.43% and a net margin of 26.78%. The company had revenue of $644.13 million during the quarter, compared to analysts’ expectations of $636.77 million. During the same quarter in the prior year, the business posted $2.32 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities analysts predict that East West Bancorp, Inc. will post 7.99 earnings per share for the current year.

East West Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Thursday, May 2nd. East West Bancorp’s dividend payout ratio is 27.71%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on EWBC shares. Morgan Stanley raised their target price on shares of East West Bancorp from $76.00 to $89.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Citigroup raised their target price on shares of East West Bancorp from $85.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Jefferies Financial Group raised their target price on shares of East West Bancorp from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Truist Financial lowered their target price on shares of East West Bancorp from $90.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Stephens lifted their price objective on shares of East West Bancorp from $85.00 to $86.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.08.

Insider Activity

In other news, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total transaction of $147,160.00. Following the completion of the sale, the director now directly owns 16,739 shares of the company’s stock, valued at $1,231,655.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total value of $147,160.00. Following the transaction, the director now directly owns 16,739 shares of the company’s stock, valued at approximately $1,231,655.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Molly Campbell sold 1,625 shares of East West Bancorp stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the transaction, the director now directly owns 10,321 shares in the company, valued at $797,400.46. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by company insiders.

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.