KBC Group NV Sells 29,751 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

KBC Group NV trimmed its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 83.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,938 shares of the financial services provider’s stock after selling 29,751 shares during the quarter. KBC Group NV’s holdings in East West Bancorp were worth $533,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its stake in East West Bancorp by 4.5% in the fourth quarter. Jones Financial Companies Lllp now owns 2,336 shares of the financial services provider’s stock valued at $224,000 after acquiring an additional 100 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in East West Bancorp by 1.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,777 shares of the financial services provider’s stock valued at $1,128,000 after acquiring an additional 128 shares during the last quarter. Arizona State Retirement System increased its stake in East West Bancorp by 0.3% in the fourth quarter. Arizona State Retirement System now owns 40,196 shares of the financial services provider’s stock valued at $3,849,000 after acquiring an additional 130 shares during the last quarter. NorthCrest Asset Manangement LLC increased its stake in East West Bancorp by 0.7% in the first quarter. NorthCrest Asset Manangement LLC now owns 21,271 shares of the financial services provider’s stock valued at $1,909,000 after acquiring an additional 139 shares during the last quarter. Finally, Crumly & Associates Inc. boosted its position in East West Bancorp by 1.9% in the first quarter. Crumly & Associates Inc. now owns 9,229 shares of the financial services provider’s stock valued at $828,000 after buying an additional 174 shares in the last quarter. 89.53% of the stock is owned by institutional investors.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $108.87 on Friday. The firm has a market cap of $15.00 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. The firm’s fifty day moving average is $93.95 and its 200-day moving average is $92.48. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.89 and a current ratio of 0.89. East West Bancorp, Inc. has a 52 week low of $68.27 and a 52 week high of $113.95.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The business had revenue of $693.00 million for the quarter, compared to analysts’ expectations of $673.02 million. East West Bancorp had a net margin of 25.73% and a return on equity of 15.23%. Sell-side analysts predict that East West Bancorp, Inc. will post 8.85 earnings per share for the current year.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 2.20%. East West Bancorp’s dividend payout ratio (DPR) is currently 28.64%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Morgan Stanley lowered shares of East West Bancorp from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $118.00 to $90.00 in a research report on Monday, April 7th. Wells Fargo & Company cut their target price on shares of East West Bancorp from $120.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Jefferies Financial Group assumed coverage on shares of East West Bancorp in a research report on Wednesday, May 21st. They issued a “buy” rating and a $115.00 target price on the stock. Barclays raised their target price on shares of East West Bancorp from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Finally, Wall Street Zen lowered shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $108.38.

Insiders Place Their Bets

In other East West Bancorp news, EVP Lisa L. Kim sold 2,100 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $95.04, for a total transaction of $199,584.00. Following the sale, the executive vice president owned 14,849 shares of the company’s stock, valued at approximately $1,411,248.96. This represents a 12.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dominic Ng sold 40,000 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.43, for a total transaction of $3,857,200.00. Following the sale, the chief executive officer directly owned 928,314 shares in the company, valued at $89,517,319.02. This trade represents a 4.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

East West Bancorp 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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.