Institute for Wealth Management LLC. Buys Shares of 2,899 East West Bancorp, Inc. (NASDAQ:EWBC)

Institute for Wealth Management LLC. acquired a new position in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,899 shares of the financial services provider's stock, valued at approximately $278,000.

A number of other hedge funds also recently added to or reduced their stakes in EWBC. Crossmark Global Holdings Inc. raised its position in shares of 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 valued at $974,000 after purchasing an additional 336 shares during the last quarter. Nordea Investment Management AB raised its position in shares of East West Bancorp by 108.5% in 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 last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of East West Bancorp in the 3rd quarter valued at approximately $4,157,000. Quest Partners LLC raised its position in shares of East West Bancorp by 830,133.3% in the 3rd 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 during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of East West Bancorp by 159.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 29,587 shares of the financial services provider's stock valued at $2,448,000 after purchasing an additional 18,166 shares during the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Vice Chairman Douglas Paul Krause sold 12,000 shares of East West Bancorp stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the transaction, the insider now owns 45,403 shares in the company, valued at $4,840,413.83. The trade was a 20.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jack C. Liu sold 725 shares of East West Bancorp stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $104.50, for a total value of $75,762.50. Following the transaction, the director now owns 15,832 shares in the company, valued at approximately $1,654,444. This represents a 4.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock worth $1,488,358 in the last quarter. Corporate insiders own 1.04% of the company's stock.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC traded up $1.19 during midday trading on Tuesday, reaching $101.32. 310,718 shares of the company's stock traded hands, compared to its average volume of 885,065. East West Bancorp, Inc. has a 1 year low of $67.27 and a 1 year high of $113.95. The company has a market cap of $14.05 billion, a P/E ratio of 12.17, a PEG ratio of 1.37 and a beta of 1.30. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.91. The company has a fifty day simple moving average of $101.02 and a two-hundred day simple moving average of $92.19.

East West Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.60 per share. This is a positive change from East West Bancorp's previous quarterly dividend of $0.55. The ex-dividend date is Monday, February 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.37%. East West Bancorp's dividend payout ratio (DPR) is 26.41%.

Wall Street Analysts Forecast Growth

EWBC has been the subject of several research analyst reports. Citigroup increased their price objective on shares of East West Bancorp from $103.00 to $109.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. UBS Group initiated coverage on shares of East West Bancorp in a report on Tuesday, December 17th. They issued a "neutral" rating and a $112.00 price target on the stock. Wedbush increased their price target on shares of East West Bancorp from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. StockNews.com downgraded shares of East West Bancorp from a "hold" rating to a "sell" rating in a report on Friday, January 24th. Finally, Piper Sandler cut their price target on shares of East West Bancorp from $100.00 to $97.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company 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.