Colonial Trust Advisors Sells 13,380 Shares of East West Bancorp (EWBC)

Colonial Trust Advisors decreased its holdings in shares of East West Bancorp (NASDAQ:EWBC) by 19.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,159 shares of the financial services provider’s stock after selling 13,380 shares during the quarter. Colonial Trust Advisors’ holdings in East West Bancorp were worth $3,512,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. National Pension Service acquired a new position in East West Bancorp during the fourth quarter worth $116,000. Field & Main Bank acquired a new position in East West Bancorp during the fourth quarter worth $146,000. Advisor Partners LLC acquired a new position in East West Bancorp during the fourth quarter worth $213,000. Signition LP acquired a new position in East West Bancorp during the fourth quarter worth $239,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in East West Bancorp by 107.4% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 5,600 shares of the financial services provider’s stock worth $341,000 after purchasing an additional 2,900 shares during the last quarter. Institutional investors and hedge funds own 89.50% of the company’s stock.

Several brokerages recently commented on EWBC. ValuEngine cut shares of East West Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, April 18th. Sandler O’Neill restated a “buy” rating and set a $76.00 target price on shares of East West Bancorp in a report on Friday, January 26th. Zacks Investment Research lowered shares of East West Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. BidaskClub raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Morgan Stanley upped their price target on shares of East West Bancorp from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 24th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $72.23.

In other news, CEO Dominic Ng sold 5,771 shares of the stock in a transaction dated Monday, April 30th. The shares were sold at an average price of $67.23, for a total value of $387,984.33. Following the transaction, the chief executive officer now directly owns 539,871 shares of the company’s stock, valued at $36,295,527.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Molly Campbell sold 461 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $65.11, for a total transaction of $30,015.71. Following the completion of the transaction, the director now directly owns 5,448 shares in the company, valued at $354,719.28. The disclosure for this sale can be found here. Insiders sold 60,100 shares of company stock worth $4,133,706 over the last three months. Insiders own 0.68% of the company’s stock.

East West Bancorp opened at $71.35 on Tuesday, according to Marketbeat.com. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. East West Bancorp has a 1 year low of $52.86 and a 1 year high of $71.75. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.49 and a beta of 1.42.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Thursday, April 19th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.13. The firm had revenue of $401.14 million for the quarter, compared to analyst estimates of $364.81 million. East West Bancorp had a net margin of 32.46% and a return on equity of 14.15%. During the same period in the prior year, the firm posted $0.88 earnings per share. equities research analysts anticipate that East West Bancorp will post 4.52 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Monday, April 30th. East West Bancorp’s payout ratio is presently 23.12%.

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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Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

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