Dana Investment Advisors Inc. Sells 3,845 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Dana Investment Advisors Inc. reduced its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,457 shares of the financial services provider's stock after selling 3,845 shares during the period. Dana Investment Advisors Inc.'s holdings in East West Bancorp were worth $2,821,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in EWBC. Crossmark Global Holdings Inc. boosted its stake in East West Bancorp by 3.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 10,171 shares of the financial services provider's stock valued at $974,000 after acquiring an additional 336 shares during the period. Nordea Investment Management AB boosted its position in 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 purchasing an additional 28,549 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in East West Bancorp during the 3rd quarter valued at approximately $4,157,000. Quest Partners LLC grew its stake in East West Bancorp by 830,133.3% during the 3rd quarter. Quest Partners LLC now owns 24,907 shares of the financial services provider's stock worth $2,061,000 after buying an additional 24,904 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in East West Bancorp by 159.1% in the third quarter. Janney Montgomery Scott LLC now owns 29,587 shares of the financial services provider's stock worth $2,448,000 after buying an additional 18,166 shares during the period. 89.53% of the stock is currently owned by institutional investors.

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Insider Activity at East West Bancorp

In other news, Director Jack C. Liu sold 725 shares of the firm's stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $104.50, for a total value of $75,762.50. Following the sale, the director now owns 15,832 shares in the company, valued at approximately $1,654,444. This trade represents a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dominic Ng sold 20,181 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $90.01, for a total transaction of $1,816,491.81. Following the transaction, 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 quarter, insiders sold 42,362 shares of company stock valued at $3,842,022. 1.04% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EWBC. Piper Sandler reduced their price target on shares of East West Bancorp from $100.00 to $97.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Wells Fargo & Company upped their target price on shares of East West Bancorp from $105.00 to $120.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. 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 report on Friday, January 24th. Compass Point increased their price objective on East West Bancorp from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Finally, StockNews.com downgraded East West Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $110.38.

East West Bancorp Price Performance

Shares of EWBC traded down $0.04 during trading hours on Tuesday, hitting $84.35. 1,420,358 shares of the company were exchanged, compared to its average volume of 860,834. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.91 and a quick ratio of 0.92. The company has a market capitalization of $11.68 billion, a PE ratio of 10.13, a PEG ratio of 1.29 and a beta of 1.28. The firm has a fifty day simple moving average of $97.44 and a 200-day simple moving average of $94.81. East West Bancorp, Inc. has a one year low of $68.78 and a one year high of $113.95.

East West Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.85%. This is a positive change from East West Bancorp's previous quarterly dividend of $0.55. The ex-dividend date was Monday, February 3rd. East West Bancorp's payout ratio is currently 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.