East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership trimmed its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 37.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 364,890 shares of the financial services provider's stock after selling 215,583 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.26% of East West Bancorp worth $34,942,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Cerity Partners LLC boosted its position in shares of East West Bancorp by 86.1% in the third quarter. Cerity Partners LLC now owns 12,969 shares of the financial services provider's stock worth $1,073,000 after buying an additional 6,002 shares during the period. BNP Paribas Financial Markets lifted its position in East West Bancorp by 58.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 44,858 shares of the financial services provider's stock worth $3,712,000 after acquiring an additional 16,592 shares in the last quarter. Townsquare Capital LLC purchased a new position in East West Bancorp in the 3rd quarter worth approximately $303,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in East West Bancorp by 2.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,911 shares of the financial services provider's stock valued at $3,137,000 after acquiring an additional 887 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new stake in East West Bancorp in the third quarter valued at approximately $250,000. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

EWBC has been the subject of several analyst reports. Morgan Stanley downgraded shares of East West Bancorp from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $118.00 to $90.00 in a research note on Monday. StockNews.com cut shares of East West Bancorp from a "hold" rating to a "sell" rating in a research report on Friday, March 28th. Stephens downgraded East West Bancorp from an "overweight" rating to an "equal weight" rating in a research note on Monday, December 9th. Barclays cut their price target on East West Bancorp from $125.00 to $120.00 and set an "overweight" rating on the stock in a research note on Friday, January 24th. Finally, UBS Group started coverage on East West Bancorp in a report on Tuesday, December 17th. They issued a "neutral" rating and a $112.00 price target for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $109.15.

Insider Activity

In related news, CEO Dominic Ng sold 19,819 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $90.00, for a total value of $1,783,710.00. Following the sale, the chief executive officer now owns 968,314 shares of the company's stock, valued at approximately $87,148,260. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 725 shares of the company's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $104.50, for a total value of $75,762.50. Following the transaction, the director now owns 15,832 shares of the company's stock, valued at approximately $1,654,444. The trade was a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 62,181 shares of company stock valued at $5,625,732. Company insiders own 1.04% of the company's stock.

East West Bancorp Stock Performance

Shares of EWBC stock traded down $1.72 on Monday, hitting $72.32. 2,276,452 shares of the stock traded hands, compared to its average volume of 891,740. The company has a market capitalization of $10.01 billion, a PE ratio of 8.68, a PEG ratio of 1.29 and a beta of 1.09. The company's fifty day moving average is $92.86 and its 200 day moving average is $95.61. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.91 and a quick ratio of 0.92. East West Bancorp, Inc. has a 1-year low of $68.78 and a 1-year high of $113.95.

East West Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were given a $0.60 dividend. This is an increase from East West Bancorp's previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Monday, February 3rd. East West Bancorp's dividend payout ratio (DPR) is presently 28.81%.

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