Bank of Montreal Can Sells 292,990 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Bank of Montreal Can trimmed its stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 26.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 801,889 shares of the financial services provider's stock after selling 292,990 shares during the period. Bank of Montreal Can owned about 0.58% of East West Bancorp worth $76,789,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new stake in shares of East West Bancorp during the third quarter valued at approximately $26,000. Venturi Wealth Management LLC increased its stake in shares of East West Bancorp by 73.2% in the 4th quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider's stock valued at $40,000 after buying an additional 175 shares during the period. Farther Finance Advisors LLC raised its position in shares of East West Bancorp by 119.1% during the fourth quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider's stock worth $54,000 after acquiring an additional 306 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of 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 valued at $63,000 after acquiring an additional 301 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in East West Bancorp in the fourth quarter valued at about $100,000. 89.53% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several analysts have commented on EWBC shares. Wells Fargo & Company dropped their target price on shares of East West Bancorp from $120.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley lowered East West Bancorp from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $118.00 to $90.00 in a research note on Monday, April 7th. UBS Group assumed coverage on East West Bancorp in a research report on Tuesday, December 17th. They set a "neutral" rating and a $112.00 target price for the company. Barclays reduced their price objective on shares of East West Bancorp from $120.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, StockNews.com lowered shares of East West Bancorp from a "hold" rating to a "sell" rating in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, East West Bancorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.46.

Insider Activity at East West Bancorp

In related news, Director Jack C. Liu sold 1,275 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $1,521,643.21. This trade represents a 8.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dominic Ng sold 20,181 shares of the firm's stock in a transaction on Friday, March 7th. The shares were 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 directly owns 988,133 shares of the company's stock, valued at $88,941,851.33. The trade was a 2.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,181 shares of company stock valued at $5,625,732 over the last ninety days. 1.04% of the stock is owned by corporate insiders.

East West Bancorp Price Performance

EWBC stock traded up $0.82 during mid-day trading on Monday, hitting $72.98. The stock had a trading volume of 179,378 shares, compared to its average volume of 909,420. The firm has a fifty day simple moving average of $89.37 and a 200 day simple moving average of $95.16. East West Bancorp, Inc. has a 52 week low of $68.27 and a 52 week high of $113.95. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $10.10 billion, a P/E ratio of 8.76, a P/E/G ratio of 1.29 and a beta of 1.09.

East West Bancorp Increases Dividend

The firm also recently disclosed 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. This is an increase from East West Bancorp's previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Monday, February 3rd. East West Bancorp's dividend 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.