East West Bancorp, Inc. (EWBC) Stake Lowered by First Mercantile Trust Co.

First Mercantile Trust Co. lessened its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 29.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 840 shares of the financial services provider’s stock after selling 350 shares during the quarter. First Mercantile Trust Co.’s holdings in East West Bancorp were worth $40,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EWBC. Patriot Financial Group Insurance Agency LLC lifted its holdings in East West Bancorp by 44.3% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 677 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 208 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in East West Bancorp by 1.4% during the 1st quarter. State of Alaska Department of Revenue now owns 15,739 shares of the financial services provider’s stock valued at $754,000 after purchasing an additional 220 shares during the last quarter. Cigna Investments Inc. New lifted its holdings in East West Bancorp by 3.5% during the 4th quarter. Cigna Investments Inc. New now owns 7,249 shares of the financial services provider’s stock valued at $316,000 after purchasing an additional 245 shares during the last quarter. Condor Capital Management lifted its holdings in East West Bancorp by 1.2% during the 4th quarter. Condor Capital Management now owns 22,813 shares of the financial services provider’s stock valued at $993,000 after purchasing an additional 263 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in East West Bancorp by 1.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,864 shares of the financial services provider’s stock worth $1,337,000 after buying an additional 272 shares during the period. 88.61% of the stock is owned by institutional investors.

EWBC stock opened at $45.72 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 9.81, a PEG ratio of 0.91 and a beta of 1.55. East West Bancorp, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $73.98.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.06). The firm had revenue of $404.59 million for the quarter, compared to the consensus estimate of $411.11 million. East West Bancorp had a return on equity of 15.78% and a net margin of 35.42%. During the same quarter in the previous year, the business earned $1.13 EPS. As a group, equities analysts expect that East West Bancorp, Inc. will post 4.99 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a $0.275 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.41%. This is a boost from East West Bancorp’s previous quarterly dividend of $0.23. East West Bancorp’s dividend payout ratio (DPR) is presently 23.61%.

In related news, Director Jack C. Liu sold 2,108 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $55.20, for a total value of $116,361.60. Following the transaction, the director now owns 18,857 shares in the company, valued at $1,040,906.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.

Several research analysts have weighed in on the company. BidaskClub cut East West Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. Zacks Investment Research upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Finally, ValuEngine cut East West Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $64.63.

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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 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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