Chung Wu Investment Group LLC bought a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,500 shares of the financial services provider's stock, valued at approximately $335,000.
A number of other hedge funds also recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new stake in East West Bancorp during the third quarter worth $25,000. Wilmington Savings Fund Society FSB acquired a new position in shares of East West Bancorp during the 3rd quarter worth $26,000. Venturi Wealth Management LLC lifted 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 worth $40,000 after buying an additional 175 shares during the last quarter. UMB Bank n.a. boosted 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 valued at $63,000 after buying an additional 301 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. bought a new position in East West Bancorp in the third quarter valued at about $79,000. Institutional investors own 89.53% of the company's stock.
Insider Buying and Selling at East West Bancorp
In other news, Director Jack C. Liu sold 1,275 shares of East West Bancorp stock in a transaction dated Thursday, January 30th. The stock was 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 directly owns 14,557 shares of the company's stock, valued at approximately $1,521,643.21. This trade represents a 8.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dominic Ng sold 20,181 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $90.01, for a total value of $1,816,491.81. Following the sale, the chief executive officer now owns 988,133 shares in the company, valued at approximately $88,941,851.33. The trade was a 2.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,362 shares of company stock valued at $3,842,022. 1.04% of the stock is currently owned by company insiders.
East West Bancorp Trading Down 5.3 %
Shares of NASDAQ EWBC traded down $4.69 during trading on Monday, reaching $84.39. The company had a trading volume of 1,649,447 shares, compared to its average volume of 858,641. The stock has a market cap of $11.68 billion, a P/E ratio of 10.13, a PEG ratio of 1.29 and a beta of 1.28. The company's fifty day moving average price is $97.68 and its 200-day moving average price is $94.78. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46. East West Bancorp, Inc. has a 12 month low of $68.78 and a 12 month high of $113.95.
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 issued a $0.60 dividend. The ex-dividend date was Monday, February 3rd. This is a boost from East West Bancorp's previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a yield of 2.84%. East West Bancorp's dividend payout ratio is presently 28.81%.
Analysts Set New Price Targets
A number of research firms have recently commented on EWBC. StockNews.com cut shares of East West Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, February 19th. Compass Point increased their price objective on shares of East West Bancorp from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. DA Davidson cut their target price on shares of 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. Wells Fargo & Company upped their price target on shares of East West Bancorp from $105.00 to $120.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods increased their price target on East West Bancorp from $96.00 to $128.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $110.38.
View Our Latest Stock Report on EWBC
East West Bancorp Profile
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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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