East West Bancorp, Inc. (EWBC) Shares Sold by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management cut its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,402 shares of the financial services provider’s stock after selling 448 shares during the period. Hanson & Doremus Investment Management’s holdings in East West Bancorp were worth $1,075,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. SeaBridge Investment Advisors LLC bought a new stake in East West Bancorp in the fourth quarter worth $30,000. Gemmer Asset Management LLC lifted its stake in East West Bancorp by 69.6% in the first quarter. Gemmer Asset Management LLC now owns 714 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 293 shares during the last quarter. JOYN Advisors Inc. lifted its stake in East West Bancorp by 6,200.0% in the fourth quarter. JOYN Advisors Inc. now owns 1,071 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,054 shares during the last quarter. First Mercantile Trust Co. lifted its stake in East West Bancorp by 643.8% in the fourth quarter. First Mercantile Trust Co. now owns 1,190 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 1,030 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in East West Bancorp by 4,203.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,209,902 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 3,135,320 shares during the last quarter. 88.58% of the stock is owned by institutional investors and hedge funds.

EWBC has been the subject of several recent research reports. ValuEngine raised shares of East West Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. BidaskClub raised shares of East West Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, January 5th. Barclays reaffirmed a “buy” rating and set a $69.00 price objective on shares of East West Bancorp in a research note on Friday, January 11th. Zacks Investment Research downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, January 14th. Finally, TheStreet upgraded shares of East West Bancorp from a “c+” rating to a “b” rating in a research report on Thursday, February 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $66.70.

Shares of NASDAQ EWBC traded up $0.54 during midday trading on Tuesday, hitting $50.59. 15,295 shares of the company traded hands, compared to its average volume of 910,716. East West Bancorp, Inc. has a 12-month low of $40.05 and a 12-month high of $73.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.01. The stock has a market capitalization of $7.26 billion, a P/E ratio of 10.87, a P/E/G ratio of 0.93 and a beta of 1.54.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.06). East West Bancorp had a net margin of 35.42% and a return on equity of 15.78%. The company had revenue of $404.59 million for the quarter, compared to analysts’ expectations of $411.11 million. During the same quarter in the prior year, the firm earned $1.13 EPS. Research analysts anticipate that East West Bancorp, Inc. will post 5.08 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.10 annualized dividend and a dividend yield of 2.17%. This is a boost from East West Bancorp’s previous quarterly dividend of $0.23. East West Bancorp’s payout ratio is currently 19.74%.

In other East West Bancorp news, Director Jack C. Liu sold 2,108 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $55.20, for a total value of $116,361.60. Following the sale, the director now owns 18,857 shares in the company, valued at $1,040,906.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Rudolph Estrada sold 1,902 shares of the company’s stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $52.64, for a total transaction of $100,121.28. Following the completion of the sale, the director now owns 15,089 shares in the company, valued at approximately $794,284.96. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

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East West Bancorp Company Profile

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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

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

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