Hsbc Holdings PLC Has $3.68 Million Stock Position in East West Bancorp, Inc. $EWBC

Hsbc Holdings PLC boosted its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 15.0% in the fourth quarter, HoldingsChannel reports. The firm owned 32,486 shares of the financial services provider’s stock after purchasing an additional 4,226 shares during the period. Hsbc Holdings PLC’s holdings in East West Bancorp were worth $3,677,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in EWBC. Foster Dykema Cabot & Partners LLC bought a new position in shares of East West Bancorp during the 3rd quarter worth approximately $26,000. Kelleher Financial Advisors bought a new stake in shares of East West Bancorp in the 3rd quarter valued at $31,000. Atlantic Union Bankshares Corp acquired a new position in shares of East West Bancorp during the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB lifted its position in shares of East West Bancorp by 44.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 113 shares during the period. Finally, Signaturefd LLC boosted its stake in East West Bancorp by 115.0% during the fourth quarter. Signaturefd LLC now owns 344 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 184 shares in the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

East West Bancorp Trading Up 0.1%

NASDAQ EWBC opened at $129.56 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $124.44 and a 200 day simple moving average of $117.17. East West Bancorp, Inc. has a 12 month low of $92.67 and a 12 month high of $136.00. The firm has a market capitalization of $17.75 billion, a P/E ratio of 12.94, a PEG ratio of 1.57 and a beta of 0.94.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.11. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. The firm had revenue of $773.75 million for the quarter, compared to the consensus estimate of $767.80 million. During the same period in the previous year, the firm earned $2.08 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, analysts predict that East West Bancorp, Inc. will post 10.59 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 18th. Investors of record on Monday, May 4th were issued a dividend of $0.80 per share. The ex-dividend date was Monday, May 4th. This represents a $3.20 annualized dividend and a yield of 2.5%. East West Bancorp’s payout ratio is 31.97%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of East West Bancorp from $120.00 to $128.00 and gave the company a “hold” rating in a research note on Thursday, April 23rd. Piper Sandler increased their price objective on shares of East West Bancorp from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $133.00 target price on shares of East West Bancorp in a research note on Wednesday, April 22nd. Citigroup boosted their target price on East West Bancorp from $145.00 to $154.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays dropped their price target on East West Bancorp from $150.00 to $142.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.38.

Insider Activity

In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 10,000 shares of East West Bancorp stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $123.50, for a total transaction of $1,235,000.00. Following the transaction, the insider owned 46,974 shares of the company’s stock, valued at $5,801,289. This trade represents a 17.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dominic Ng sold 30,000 shares of East West Bancorp stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $123.49, for a total transaction of $3,704,700.00. Following the transaction, the chief executive officer directly owned 707,930 shares in the company, valued at approximately $87,422,275.70. This represents a 4.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 54,311 shares of company stock valued at $6,784,711 in the last three months. 0.94% of the stock is owned by company insiders.

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.