Brandywine Global Investment Management LLC Has $6.97 Million Stock Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Brandywine Global Investment Management LLC lessened its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,736 shares of the financial services provider's stock after selling 5,669 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.05% of East West Bancorp worth $6,965,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Crossmark Global Holdings Inc. grew its position in East West Bancorp by 3.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 10,171 shares of the financial services provider's stock valued at $974,000 after purchasing an additional 336 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of East West Bancorp by 108.5% during the 4th quarter. Nordea Investment Management AB now owns 54,851 shares of the financial services provider's stock valued at $5,282,000 after buying an additional 28,549 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of East West Bancorp by 1,667.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 670,156 shares of the financial services provider's stock valued at $64,174,000 after acquiring an additional 632,245 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of East West Bancorp by 18.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 100,320 shares of the financial services provider's stock worth $9,699,000 after acquiring an additional 15,475 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of East West Bancorp by 10.0% in the fourth quarter. Fisher Asset Management LLC now owns 755,555 shares of the financial services provider's stock worth $72,352,000 after acquiring an additional 68,528 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company's stock.

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Analyst Upgrades and Downgrades

EWBC has been the topic of a number of recent research reports. Morgan Stanley lowered their target price on East West Bancorp from $127.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Stephens cut East West Bancorp from an "overweight" rating to an "equal weight" rating in a research note on Monday, December 9th. Barclays cut their price objective on shares of East West Bancorp from $125.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Compass Point boosted their target price on shares of East West Bancorp from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Finally, Piper Sandler dropped their price target on shares of 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $111.31.

East West Bancorp Stock Performance

Shares of NASDAQ:EWBC traded down $3.88 during midday trading on Friday, hitting $74.04. The company's stock had a trading volume of 2,883,835 shares, compared to its average volume of 886,200. East West Bancorp, Inc. has a fifty-two week low of $68.78 and a fifty-two week high of $113.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.91. The stock has a market capitalization of $10.25 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 1.29 and a beta of 1.28. The stock's 50 day simple moving average is $93.50 and its 200 day simple moving average is $95.58.

East West Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 17th. Investors of record on Monday, February 3rd were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 3.24%. This is a positive change from East West Bancorp's previous quarterly dividend of $0.55. East West Bancorp's payout ratio is 28.81%.

Insider Activity at East West Bancorp

In other news, CEO Dominic Ng sold 19,819 shares of East West Bancorp stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $90.00, for a total transaction 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack C. Liu sold 1,275 shares of the company's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $104.53, for a total value of $133,275.75. Following the completion of the transaction, the director now owns 14,557 shares of the company's stock, valued at $1,521,643.21. The trade was a 8.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,181 shares of company stock worth $5,625,732 in the last ninety days. 1.04% of the stock is currently owned by insiders.

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.