Federated Hermes Inc. Sells 664 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Posted by Defense World Staff on Mar 11th, 2023

Federated Hermes Inc. lowered its position in East West Bancorp, Inc. (NASDAQ:EWBC – Get Rating) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,394 shares of the financial services provider’s stock after selling 664 shares during the period. Federated Hermes Inc.’s holdings in East West Bancorp were worth $2,645,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in East West Bancorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 13,803,992 shares of the financial services provider’s stock valued at $1,090,792,000 after buying an additional 86,848 shares during the last quarter. Boston Partners increased its position in shares of East West Bancorp by 6.9% during the third quarter. Boston Partners now owns 5,920,365 shares of the financial services provider’s stock valued at $397,635,000 after acquiring an additional 383,311 shares during the last quarter. FMR LLC lifted its holdings in East West Bancorp by 25.0% during the second quarter. FMR LLC now owns 5,774,618 shares of the financial services provider’s stock worth $374,195,000 after acquiring an additional 1,155,315 shares during the period. CI Investments Inc. boosted its position in East West Bancorp by 20.5% in the second quarter. CI Investments Inc. now owns 3,646,609 shares of the financial services provider’s stock worth $236,300,000 after purchasing an additional 620,505 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in East West Bancorp by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,097,679 shares of the financial services provider’s stock valued at $140,838,000 after purchasing an additional 24,086 shares during the period. 88.68% of the stock is owned by institutional investors.

Insider Activity at East West Bancorp

In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $77.00, for a total value of $154,000.00. Following the sale, the director now owns 17,136 shares of the company’s stock, valued at approximately $1,319,472. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.80% of the stock is owned by corporate insiders.

East West Bancorp Stock Down 6.1 %

EWBC stock opened at $62.71 on Friday. The stock has a 50-day simple moving average of $73.11 and a two-hundred day simple moving average of $70.74. East West Bancorp, Inc. has a twelve month low of $60.29 and a twelve month high of $85.32. The firm has a market capitalization of $8.84 billion, a PE ratio of 7.92, a PEG ratio of 0.80 and a beta of 1.45. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.03.

East West Bancorp (NASDAQ:EWBC – Get Rating) last issued its quarterly earnings data on Thursday, January 26th. The financial services provider reported $2.37 EPS for the quarter, beating the consensus estimate of $2.22 by $0.15. East West Bancorp had a net margin of 43.06% and a return on equity of 19.66%. The company had revenue of $826.14 million during the quarter, compared to analysts’ expectations of $654.24 million. During the same quarter in the previous year, the company earned $1.52 earnings per share. On average, equities analysts predict that East West Bancorp, Inc. will post 9.11 EPS for the current fiscal year.

East West Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 21st. Investors of record on Monday, February 6th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Friday, February 3rd. This is an increase from East West Bancorp’s previous quarterly dividend of $0.40. East West Bancorp’s dividend payout ratio (DPR) is 24.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on EWBC shares. Truist Financial lifted their target price on East West Bancorp from $77.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, January 27th. Wells Fargo & Company dropped their target price on shares of East West Bancorp from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, December 15th. Finally, Morgan Stanley increased their target price on shares of East West Bancorp from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Friday, January 27th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, East West Bancorp currently has an average rating of “Hold” and a consensus target price of $82.00.

About East West Bancorp

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East West Bancorp, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following business segments: Consumer and Business Banking, Commercial Banking, and Other. The Consumer and Business Banking segment provides financial service products and services to consumer and commercial customers through the company’s branch network in the U.S.