SG Americas Securities LLC Has $1.21 Million Position in East West Bancorp, Inc. $EWBC

Key Points

• SG Americas Securities sharply reduced its East West Bancorp stake in the first quarter, selling 117,058 shares and cutting its holdings by 91.2% to 11,310 shares worth about $1.21 million.
• Insiders also sold stock, including recent transactions by Irene H. Oh and Director Archana Deskus; overall, insiders sold 54,311 shares in the last quarter and now own just 0.94% of the company.
• East West Bancorp continues to draw mostly positive analyst coverage and delivered better-than-expected quarterly results, with EPS of $2.57 versus $2.46 expected and revenue up 11.8% year over year. The stock was trading near its 52-week high at $129.30 and offers a quarterly dividend of $0.80 per share.

SG Americas Securities LLC cut its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 91.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,310 shares of the financial services provider's stock after selling 117,058 shares during the period. SG Americas Securities LLC's holdings in East West Bancorp were worth $1,207,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its stake in shares of East West Bancorp by 66.9% in the first quarter. Geneos Wealth Management Inc. now owns 801 shares of the financial services provider's stock worth $72,000 after purchasing an additional 321 shares during the last quarter. Sivia Capital Partners LLC bought a new position in East West Bancorp during the 2nd quarter worth $274,000. Baird Financial Group Inc. bought a new position in East West Bancorp during the 2nd quarter worth $290,000. Marshall Wace LLP lifted its holdings in East West Bancorp by 34.3% during the 2nd quarter. Marshall Wace LLP now owns 3,223 shares of the financial services provider's stock worth $325,000 after buying an additional 823 shares during the period. Finally, Cerity Partners LLC lifted its holdings in East West Bancorp by 118.7% during the 2nd quarter. Cerity Partners LLC now owns 35,335 shares of the financial services provider's stock worth $3,568,000 after buying an additional 19,178 shares during the period. 89.53% of the stock is owned by institutional investors.

Insider Activity at East West Bancorp

In related news, insider Irene H. Oh sold 800 shares of the business's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $133.19, for a total transaction of $106,552.00. Following the transaction, the insider owned 84,698 shares in the company, valued at $11,280,926.62. The trade was a 0.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Archana Deskus sold 1,800 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $125.55, for a total transaction of $225,990.00. Following the transaction, the director directly owned 13,231 shares in the company, valued at approximately $1,661,152.05. This represents a 11.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 54,311 shares of company stock worth $6,784,711. Corporate insiders own 0.94% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EWBC shares. Wall Street Zen cut East West Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday. Piper Sandler lifted their price objective on East West Bancorp from $111.00 to $123.00 and gave the stock a "neutral" rating in a research note on Monday, April 27th. UBS Group upped their target price on East West Bancorp from $125.00 to $138.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Barclays decreased their target price on shares of East West Bancorp from $150.00 to $142.00 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. Finally, Morgan Stanley raised their price target on shares of East West Bancorp from $128.00 to $131.00 and gave the stock an "equal weight" rating in a report on Monday. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $134.62.

East West Bancorp Price Performance

Shares of East West Bancorp stock opened at $129.30 on Friday. East West Bancorp, Inc. has a one year low of $92.67 and a one year high of $136.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. The stock's 50-day moving average is $125.47 and its 200 day moving average is $117.71. The firm has a market cap of $17.71 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.56 and a beta of 0.94.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last released its earnings results on Tuesday, April 21st. The financial services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.46 by $0.11. The business had revenue of $773.75 million during the quarter, compared to analysts' expectations of $767.80 million. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The firm's revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 earnings per share. Equities research analysts anticipate that East West Bancorp, Inc. will post 10.59 EPS for the current year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 4th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. East West Bancorp's dividend payout ratio (DPR) is 31.97%.

East West Bancorp Company 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.

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