Hsbc Holdings PLC Has $510,000 Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Hsbc Holdings PLC decreased its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 7.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,974 shares of the financial services provider’s stock after selling 538 shares during the period. Hsbc Holdings PLC’s holdings in East West Bancorp were worth $510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Capital Research Global Investors acquired a new stake in shares of East West Bancorp in the 1st quarter valued at $338,142,000. Jupiter Asset Management Ltd. bought a new position in East West Bancorp in the second quarter valued at about $59,460,000. Lord Abbett & CO. LLC raised its stake in East West Bancorp by 112.5% during the first quarter. Lord Abbett & CO. LLC now owns 1,441,198 shares of the financial services provider’s stock worth $114,013,000 after acquiring an additional 762,958 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of East West Bancorp by 82.2% in the first quarter. Jennison Associates LLC now owns 1,687,555 shares of the financial services provider’s stock worth $133,502,000 after acquiring an additional 761,347 shares during the last quarter. Finally, Miller Howard Investments Inc. NY acquired a new stake in shares of East West Bancorp in the 1st quarter valued at approximately $39,347,000. 89.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In other East West Bancorp news, EVP Lisa L. Kim sold 6,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $78.68, for a total value of $472,080.00. Following the completion of the sale, the executive vice president now directly owns 18,891 shares in the company, valued at $1,486,343.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Lisa L. Kim sold 6,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $78.68, for a total transaction of $472,080.00. Following the transaction, the executive vice president now owns 18,891 shares of the company’s stock, valued at approximately $1,486,343.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gary Teo sold 3,450 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.73, for a total value of $302,668.50. Following the completion of the sale, the executive vice president now directly owns 15,875 shares of the company’s stock, valued at $1,392,713.75. The disclosure for this sale can be found here. Insiders have sold a total of 13,346 shares of company stock valued at $1,108,160 over the last ninety days. 1.04% of the stock is owned by corporate insiders.

East West Bancorp Stock Performance

Shares of EWBC opened at $82.74 on Tuesday. The firm’s fifty day simple moving average is $81.50 and its two-hundred day simple moving average is $77.05. East West Bancorp, Inc. has a 12 month low of $49.59 and a 12 month high of $89.75. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $11.51 billion, a P/E ratio of 10.42, a price-to-earnings-growth ratio of 2.80 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 EPS for the quarter, topping the consensus estimate of $1.97 by $0.10. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The business had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $631.61 million. During the same quarter last year, the firm posted $2.20 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. As a group, analysts predict that East West Bancorp, Inc. will post 8.17 EPS for the current year.

East West Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were given a dividend of $0.55 per share. The ex-dividend date was Friday, August 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.66%. East West Bancorp’s payout ratio is presently 27.71%.

Analysts Set New Price Targets

EWBC has been the subject of several research reports. Morgan Stanley increased their price objective on shares of East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company raised their price objective on East West Bancorp from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Wedbush upped their target price on East West Bancorp from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. StockNews.com raised East West Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Barclays upped their price objective on East West Bancorp from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.73.

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.