East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,322,517 shares of the financial services provider's stock after selling 140,482 shares during the quarter. Bank of New York Mellon Corp owned about 0.95% of East West Bancorp worth $126,644,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Crossmark Global Holdings Inc. raised its holdings in East West Bancorp by 3.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 10,171 shares of the financial services provider's stock worth $974,000 after acquiring an additional 336 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of East West Bancorp by 108.5% in the fourth quarter. Nordea Investment Management AB now owns 54,851 shares of the financial services provider's stock worth $5,282,000 after purchasing an additional 28,549 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of East West Bancorp in the third quarter worth $4,157,000. Quest Partners LLC lifted its holdings in shares of East West Bancorp by 830,133.3% during the third quarter. Quest Partners LLC now owns 24,907 shares of the financial services provider's stock valued at $2,061,000 after purchasing an additional 24,904 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of East West Bancorp by 159.1% during the third quarter. Janney Montgomery Scott LLC now owns 29,587 shares of the financial services provider's stock valued at $2,448,000 after buying an additional 18,166 shares during the last quarter. Institutional investors own 89.53% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded East West Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, February 19th. UBS Group began coverage on East West Bancorp in a research note on Tuesday, December 17th. They set a "neutral" rating and a $112.00 price target for the company. Wells Fargo & Company raised their target price on East West Bancorp from $105.00 to $120.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Barclays lowered their target price on 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. Finally, Compass Point raised their price objective on East West Bancorp from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. One 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $110.38.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Jack C. Liu sold 1,275 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $104.53, for a total transaction of $133,275.75. Following the sale, the director now owns 14,557 shares in the company, valued at approximately $1,521,643.21. The trade was a 8.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.04% of the company's stock.

East West Bancorp Price Performance

EWBC stock traded down $2.18 during mid-day trading on Tuesday, hitting $91.44. The company had a trading volume of 821,084 shares, compared to its average volume of 855,496. The company has a 50-day moving average price of $98.24 and a 200 day moving average price of $94.53. East West Bancorp, Inc. has a 12-month low of $68.78 and a 12-month high of $113.95. The company has a market capitalization of $12.68 billion, a price-to-earnings ratio of 10.98, a P/E/G 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.

East West Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from East West Bancorp's previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a yield of 2.62%. East West Bancorp's dividend payout ratio (DPR) is 28.81%.

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.