Trillium Asset Management LLC Sells 16,210 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Key Points

• Trillium Asset Management LLC reduced its stake in East West Bancorp by 6.4%, owning 236,056 shares valued at approximately $21.2 million after selling 16,210 shares in the 1st quarter.
• East West Bancorp declared a quarterly dividend of $0.60 per share, which will be paid on August 15th, with a current dividend yield of 2.4%.
• Following a recent earnings report, East West Bancorp's EPS of $2.28 exceeded expectations, and analysts target an EPS of 8.85 for the current fiscal year.

Trillium Asset Management LLC lowered its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 6.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,056 shares of the financial services provider's stock after selling 16,210 shares during the period. Trillium Asset Management LLC owned about 0.17% of East West Bancorp worth $21,188,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in shares of East West Bancorp by 2.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 207,479 shares of the financial services provider's stock valued at $19,868,000 after acquiring an additional 5,210 shares during the period. Raymond James Financial Inc. bought a new position in shares of East West Bancorp during the fourth quarter valued at $32,138,000. Treasurer of the State of North Carolina lifted its holdings in shares of East West Bancorp by 0.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 65,607 shares of the financial services provider's stock valued at $6,283,000 after acquiring an additional 568 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of East West Bancorp by 15.3% during the fourth quarter. Sterling Capital Management LLC now owns 20,144 shares of the financial services provider's stock valued at $1,929,000 after acquiring an additional 2,677 shares during the period. Finally, Barclays PLC lifted its holdings in shares of East West Bancorp by 26.4% during the fourth quarter. Barclays PLC now owns 183,617 shares of the financial services provider's stock valued at $17,584,000 after acquiring an additional 38,307 shares during the period. Institutional investors and hedge funds own 89.53% of the company's stock.

East West Bancorp Trading Down 2.0%

Shares of East West Bancorp stock traded down $2.06 during trading on Friday, hitting $101.19. 660,895 shares of the company were exchanged, compared to its average volume of 876,479. The firm has a market capitalization of $13.95 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 1.40 and a beta of 0.97. East West Bancorp, Inc. has a 1-year low of $68.27 and a 1-year high of $113.95. The firm's fifty day moving average price is $101.60 and its 200 day moving average price is $93.69. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.89.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.05. East West Bancorp had a return on equity of 15.09% and a net margin of 26.06%. The business had revenue of $705.00 million during the quarter, compared to analyst estimates of $702.04 million. During the same period in the previous year, the firm earned $2.07 EPS. East West Bancorp's quarterly revenue was up 10.3% compared to the same quarter last year. As a group, sell-side analysts expect that East West Bancorp, Inc. will post 8.85 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Monday, August 4th were given a $0.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. East West Bancorp's payout ratio is currently 28.04%.

Insider Activity

In related news, CEO Dominic Ng sold 40,000 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $103.38, for a total value of $4,135,200.00. Following the completion of the transaction, the chief executive officer directly owned 888,314 shares in the company, valued at approximately $91,833,901.32. The trade was a 4.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.04% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. DA Davidson lifted their price objective on East West Bancorp from $115.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Barclays lifted their price target on East West Bancorp from $110.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Citigroup lifted their price target on East West Bancorp from $100.00 to $116.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Truist Financial lifted their price target on East West Bancorp from $102.00 to $110.00 and gave the company a "hold" rating in a report on Friday, July 11th. Finally, Jefferies Financial Group initiated coverage on East West Bancorp in a report on Wednesday, May 21st. They issued a "buy" rating and a $115.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given 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 $114.15.

East West Bancorp Company 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.