Hsbc Holdings PLC trimmed its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 17.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,343 shares of the financial services provider’s stock after selling 27,525 shares during the period. Hsbc Holdings PLC owned about 0.09% of East West Bancorp worth $7,628,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. People s United Financial Inc. bought a new position in shares of East West Bancorp during the second quarter valued at about $18,147,000. SRS Capital Advisors Inc. bought a new position in shares of East West Bancorp during the third quarter valued at about $100,000. Itau Unibanco Holding S.A. bought a new position in shares of East West Bancorp during the second quarter valued at about $108,000. First Hawaiian Bank bought a new position in shares of East West Bancorp during the third quarter valued at about $169,000. Finally, Oppenheimer Asset Management Inc. bought a new position in East West Bancorp in the third quarter worth about $202,000. 87.86% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on EWBC. Zacks Investment Research raised shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Tuesday, September 18th. DA Davidson raised shares of East West Bancorp from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 27th. BidaskClub downgraded shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 9th. ValuEngine downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, BMO Capital Markets raised shares of East West Bancorp from a “market perform” rating to an “outperform” rating and set a $73.00 target price for the company in a research note on Monday, October 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. East West Bancorp currently has a consensus rating of “Hold” and an average price target of $72.00.
East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, October 18th. The financial services provider reported $1.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.03. East West Bancorp had a net margin of 34.80% and a return on equity of 15.70%. The business had revenue of $395.22 million during the quarter, compared to the consensus estimate of $398.25 million. During the same quarter last year, the firm earned $0.91 earnings per share. On average, sell-side analysts anticipate that East West Bancorp, Inc. will post 4.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Wednesday, October 31st. East West Bancorp’s dividend payout ratio is 26.59%.
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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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.
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