LSV Asset Management Has $34.22 Million Stock Position in East West Bancorp, Inc. (NASDAQ:EWBC)

LSV Asset Management lessened its stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 15.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 357,300 shares of the financial services provider's stock after selling 65,000 shares during the period. LSV Asset Management owned about 0.26% of East West Bancorp worth $34,215,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Captrust Financial Advisors acquired a new stake in shares of East West Bancorp during the 3rd quarter worth approximately $250,000. HighTower Advisors LLC boosted its stake in East West Bancorp by 3.7% during the third quarter. HighTower Advisors LLC now owns 10,888 shares of the financial services provider's stock worth $900,000 after buying an additional 392 shares in the last quarter. Stifel Financial Corp increased its holdings in East West Bancorp by 2.6% in the 3rd quarter. Stifel Financial Corp now owns 21,737 shares of the financial services provider's stock valued at $1,799,000 after buying an additional 550 shares during the period. Kovitz Investment Group Partners LLC acquired a new position in shares of East West Bancorp in the 3rd quarter valued at $294,000. Finally, National Bank of Canada FI bought a new position in shares of East West Bancorp during the 3rd quarter worth about $5,978,000. 89.53% of the stock is owned by institutional investors and hedge funds.

East West Bancorp Trading Up 2.1 %

East West Bancorp stock traded up $1.61 during mid-day trading on Thursday, hitting $77.51. The stock had a trading volume of 476,644 shares, compared to its average volume of 1,175,926. The stock has a 50-day simple moving average of $87.82 and a two-hundred day simple moving average of $94.85. 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 stock has a market capitalization of $10.73 billion, a PE ratio of 9.31, a P/E/G ratio of 1.29 and a beta of 1.09. East West Bancorp, Inc. has a 12 month low of $68.27 and a 12 month high of $113.95.

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East West Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were given a dividend of $0.60 per share. This is a boost from East West Bancorp's previous quarterly dividend of $0.55. The ex-dividend date was Monday, February 3rd. This represents a $2.40 annualized dividend and a dividend yield of 3.10%. East West Bancorp's payout ratio is currently 28.81%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EWBC. StockNews.com lowered shares of East West Bancorp from a "hold" rating to a "sell" rating in a research report on Friday, March 28th. Barclays dropped their target price on East West Bancorp from $120.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Piper Sandler cut their price objective on East West Bancorp from $100.00 to $97.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Morgan Stanley lowered shares of East West Bancorp from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $118.00 to $90.00 in a report on Monday, April 7th. Finally, Wells Fargo & Company cut their price target on shares of East West Bancorp from $120.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, East West Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $106.46.

Insider Buying and Selling

In related news, Director Jack C. Liu sold 1,275 shares of the 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 sale, the director now directly 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 legal filing with the SEC, which is available at this link. Also, CEO Dominic Ng sold 20,181 shares of the business's stock in a transaction that occurred 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 owns 988,133 shares of the company's stock, valued at approximately $88,941,851.33. This represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,181 shares of company stock valued at $5,625,732 over the last ninety days. Insiders own 1.04% of the company's stock.

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.