SG Americas Securities LLC Boosts Stake in East West Bancorp, Inc. $EWBC

SG Americas Securities LLC increased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 2,084.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,221 shares of the financial services provider’s stock after acquiring an additional 50,785 shares during the period. SG Americas Securities LLC’s holdings in East West Bancorp were worth $5,665,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Invesco Ltd. grew its stake in shares of East West Bancorp by 38.5% during the 2nd quarter. Invesco Ltd. now owns 10,683,377 shares of the financial services provider’s stock worth $1,078,807,000 after purchasing an additional 2,968,716 shares during the period. Norges Bank purchased a new position in shares of East West Bancorp in the 2nd quarter valued at about $174,431,000. Boston Partners lifted its stake in shares of East West Bancorp by 39.6% in the second quarter. Boston Partners now owns 3,241,088 shares of the financial services provider’s stock valued at $327,271,000 after purchasing an additional 920,159 shares during the period. Sei Investments Co. boosted its holdings in East West Bancorp by 448.5% during the second quarter. Sei Investments Co. now owns 840,371 shares of the financial services provider’s stock worth $84,861,000 after buying an additional 687,145 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in East West Bancorp by 61.9% during the second quarter. AQR Capital Management LLC now owns 1,418,174 shares of the financial services provider’s stock worth $143,207,000 after buying an additional 542,149 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

Analyst Ratings Changes

EWBC has been the subject of a number of research analyst reports. Truist Financial increased their target price on shares of East West Bancorp from $112.00 to $116.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on East West Bancorp in a report on Tuesday, December 16th. They issued a “buy” rating and a $133.00 price target on the stock. Wall Street Zen raised East West Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of East West Bancorp in a report on Monday, December 29th. Finally, Barclays upped their target price on East West Bancorp from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, December 19th. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, East West Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $126.08.

East West Bancorp Trading Down 1.2%

Shares of East West Bancorp stock opened at $117.45 on Friday. East West Bancorp, Inc. has a 1 year low of $68.27 and a 1 year high of $119.73. 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 business has a 50 day moving average price of $109.60 and a 200 day moving average price of $106.16. The company has a market capitalization of $16.16 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.25 and a beta of 0.88.

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

East West Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Monday, November 3rd. East West Bancorp’s dividend payout ratio (DPR) is currently 26.46%.

Insider Activity

In related news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $100.04, for a total value of $1,000,400.00. Following the completion of the transaction, the insider owned 45,500 shares of the company’s stock, valued at approximately $4,551,820. The trade was a 18.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Parker Shi sold 8,844 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $115.03, for a total transaction of $1,017,325.32. Following the sale, the chief operating officer directly owned 14,950 shares in the company, valued at $1,719,698.50. This represents a 37.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 73,344 shares of company stock worth $8,184,226 in the last quarter. Corporate insiders own 1.04% of the company’s stock.

East West Bancorp 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.