East West Bancorp, Inc. (NASDAQ:EWBC) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 13.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 40,225 shares of the financial services provider's stock after acquiring an additional 4,863 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in East West Bancorp were worth $3,852,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of East West Bancorp during the third quarter worth $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of East West Bancorp in the third quarter worth about $26,000. UMB Bank n.a. grew its holdings in East West Bancorp by 83.4% during the fourth quarter. UMB Bank n.a. now owns 662 shares of the financial services provider's stock worth $63,000 after acquiring an additional 301 shares during the period. Transamerica Financial Advisors Inc. acquired a new position in East West Bancorp in the third quarter valued at approximately $79,000. Finally, Quarry LP boosted its position in East West Bancorp by 822.9% in the 3rd quarter. Quarry LP now owns 1,006 shares of the financial services provider's stock worth $83,000 after purchasing an additional 897 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company's stock.

Insider Transactions at East West Bancorp

In other news, Director Jack C. Liu sold 725 shares of the business's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $104.50, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.04% of the company's stock.

East West Bancorp Price Performance

EWBC traded down $2.98 on Friday, hitting $94.14. 354,733 shares of the company's stock were exchanged, compared to its average volume of 852,382. The firm has a 50-day moving average price of $98.83 and a 200-day moving average price of $93.54. The stock has a market cap of $13.05 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 1.31 and a beta of 1.30. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp, Inc. has a fifty-two week low of $68.78 and a fifty-two week high of $113.95.

East West Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.55%. 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 dividend payout ratio (DPR) is 28.81%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of East West Bancorp from $105.00 to $120.00 and gave the company an "overweight" rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods lifted their price objective on shares of East West Bancorp from $96.00 to $128.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Compass Point increased 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 note on Tuesday, December 10th. Stephens cut East West Bancorp from an "overweight" rating to an "equal weight" rating in a research report on Monday, December 9th. Finally, DA Davidson reduced their price target on East West Bancorp from $120.00 to $118.00 and set a "buy" rating for the company in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $110.38.

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.