Y Intercept Hong Kong Ltd purchased a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 12,558 shares of the financial services provider's stock, valued at approximately $1,203,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in East West Bancorp during the 3rd quarter valued at $25,000. Wilmington Savings Fund Society FSB purchased a new stake in East West Bancorp in the third quarter worth $26,000. Venturi Wealth Management LLC increased its stake in East West Bancorp by 73.2% in the fourth quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider's stock worth $40,000 after purchasing an additional 175 shares during the period. UMB Bank n.a. increased its stake in East West Bancorp by 83.4% in the fourth quarter. UMB Bank n.a. now owns 662 shares of the financial services provider's stock worth $63,000 after purchasing an additional 301 shares during the period. Finally, Transamerica Financial Advisors Inc. purchased a new stake in East West Bancorp in the third quarter worth $79,000. Hedge funds and other institutional investors own 89.53% of the company's stock.
East West Bancorp Stock Performance
Shares of NASDAQ:EWBC traded up $0.80 during trading on Friday, hitting $94.43. The stock had a trading volume of 1,520,581 shares, compared to its average volume of 893,725. East West Bancorp, Inc. has a 12-month low of $68.78 and a 12-month high of $113.95. The stock has a market capitalization of $13.09 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 1.29 and a beta of 1.30. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46. The stock has a 50-day simple moving average of $98.29 and a two-hundred day simple moving average of $94.33.
East West Bancorp Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.54%. This is a boost from East West Bancorp's previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Monday, February 3rd. East West Bancorp's dividend payout ratio (DPR) is presently 28.81%.
Insider Transactions at East West Bancorp
In related news, Director Jack C. Liu sold 1,275 shares of East West Bancorp 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 directly owns 14,557 shares in the company, valued at approximately $1,521,643.21. This trade represents a 8.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.04% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. Piper Sandler reduced their target price on East West Bancorp from $100.00 to $97.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Wells Fargo & Company increased their target price 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. DA Davidson dropped their price target on East West Bancorp from $120.00 to $118.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Compass Point raised their price objective on East West Bancorp from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Finally, StockNews.com downgraded East West Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, East West Bancorp currently has an average rating of "Moderate Buy" and an average price target of $110.38.
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East West Bancorp Company Profile
(
Free Report)
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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