By otakuyassine3@gmail.com 
Global Retirement Partners LLC lifted its stake in East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) by 106.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,270 shares of the financial services provider’s stock after purchasing an additional 656 shares during the period. Global Retirement Partners LLC’s holdings in East West Bancorp were worth $122,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. Angel Oak Capital Advisors LLC bought a new stake in East West Bancorp during the 4th quarter worth approximately $1,015,000. Venturi Wealth Management LLC raised its position in shares of East West Bancorp by 73.2% during the 4th quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 175 shares during the period. Truist Financial Corp lifted its stake in shares of East West Bancorp by 48.1% during the 4th quarter. Truist Financial Corp now owns 17,795 shares of the financial services provider’s stock valued at $1,704,000 after buying an additional 5,781 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in East West Bancorp by 13.9% in the 4th quarter. CIBC Asset Management Inc now owns 5,709 shares of the financial services provider’s stock worth $547,000 after buying an additional 698 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its stake in East West Bancorp by 13.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 40,225 shares of the financial services provider’s stock worth $3,852,000 after buying an additional 4,863 shares in the last quarter. 89.53% of the stock is owned by institutional investors.
Insider Buying and Selling
In other East West Bancorp news, Director Jack C. Liu sold 1,275 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $104.53, for a total transaction of $133,275.75. Following the completion of the transaction, the director now owns 14,557 shares in the company, valued at $1,521,643.21. The trade was a 8.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.04% of the stock is owned by corporate insiders.
East West Bancorp Trading Down 0.1 %
Shares of NASDAQ EWBC opened at $93.63 on Friday. East West Bancorp, Inc. has a 1-year low of $68.78 and a 1-year high of $113.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.91 and a quick ratio of 0.92. The business’s 50 day moving average is $98.32 and its two-hundred day moving average is $94.09. The stock has a market capitalization of $12.98 billion, a P/E ratio of 11.24, a PEG ratio of 1.29 and a beta of 1.30.
East West Bancorp Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, February 17th. Investors of record on Monday, February 3rd were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.55. East West Bancorp’s dividend payout ratio is presently 28.81%.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on EWBC shares. StockNews.com lowered East West Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, February 19th. Wells Fargo & Company upped their price target on East West Bancorp from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Piper Sandler cut their price objective on shares of East West Bancorp from $100.00 to $97.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Barclays lowered their target price on shares of East West Bancorp from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Finally, Stephens cut shares of East West Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, East West Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.38.
View Our Latest Analysis on East West Bancorp
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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.
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