Federated Hermes Inc. Has $2.68 Million Stock Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Federated Hermes Inc. boosted its position in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 22.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,862 shares of the financial services provider's stock after purchasing an additional 5,485 shares during the period. Federated Hermes Inc.'s holdings in East West Bancorp were worth $2,680,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EWBC. Xponance Inc. boosted its stake in shares of East West Bancorp by 1.9% during the 1st quarter. Xponance Inc. now owns 16,141 shares of the financial services provider's stock worth $1,449,000 after acquiring an additional 302 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of East West Bancorp by 25.0% during the first quarter. Janney Montgomery Scott LLC now owns 28,287 shares of the financial services provider's stock valued at $2,539,000 after purchasing an additional 5,654 shares during the last quarter. Cerity Partners LLC boosted its position in shares of East West Bancorp by 35.9% in the 1st quarter. Cerity Partners LLC now owns 16,157 shares of the financial services provider's stock valued at $1,450,000 after purchasing an additional 4,271 shares during the period. SG Americas Securities LLC increased its stake in East West Bancorp by 470.9% in the 1st quarter. SG Americas Securities LLC now owns 7,559 shares of the financial services provider's stock worth $678,000 after purchasing an additional 6,235 shares in the last quarter. Finally, FORA Capital LLC acquired a new stake in East West Bancorp during the 4th quarter worth about $1,072,000. 89.53% of the stock is owned by institutional investors.

East West Bancorp Stock Performance

Shares of NASDAQ:EWBC traded down $0.77 during trading on Wednesday, reaching $98.49. 781,052 shares of the stock were exchanged, compared to its average volume of 1,045,502. The firm has a market cap of $13.57 billion, a PE ratio of 11.51, a PEG ratio of 1.36 and a beta of 0.97. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.43. East West Bancorp, Inc. has a 12 month low of $68.27 and a 12 month high of $113.95. The stock has a 50-day moving average price of $100.23 and a 200-day moving average price of $93.76.

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

East West Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Monday, August 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, August 4th. East West Bancorp's dividend payout ratio (DPR) is currently 28.04%.

Analyst Ratings Changes

Several analysts have issued reports on EWBC shares. DA Davidson boosted their target price on shares of East West Bancorp from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods raised their price objective on East West Bancorp from $110.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Barclays upped their target price 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 boosted their price objective on shares of East West Bancorp from $100.00 to $116.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Wells Fargo & Company increased their target price on shares of East West Bancorp from $100.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $114.15.

Insiders Place Their Bets

In other news, EVP Lisa L. Kim sold 2,100 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $95.04, for a total transaction of $199,584.00. Following the sale, the executive vice president directly owned 14,849 shares in the company, valued at approximately $1,411,248.96. The trade was a 12.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $4,135,200.00. Following the sale, the chief executive officer directly owned 888,314 shares in the company, valued at $91,833,901.32. The trade was a 4.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,100 shares of company stock worth $8,191,984. Company insiders own 1.04% of the company's stock.

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.