Miller Howard Investments Inc. NY Sells 7,760 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Miller Howard Investments Inc. NY reduced its position in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 632,661 shares of the financial services provider's stock after selling 7,760 shares during the period. East West Bancorp comprises about 2.0% of Miller Howard Investments Inc. NY's holdings, making the stock its 17th largest position. Miller Howard Investments Inc. NY owned approximately 0.46% of East West Bancorp worth $60,584,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EWBC. Capital Performance Advisors LLP acquired a new position in shares of East West Bancorp during the 3rd quarter valued at about $25,000. Wilmington Savings Fund Society FSB bought a new stake in East West Bancorp during the third quarter worth approximately $26,000. UMB Bank n.a. grew its holdings in East West Bancorp by 362.8% during the third quarter. UMB Bank n.a. now owns 361 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 283 shares during the last quarter. Tobam raised its position in shares of East West Bancorp by 131.7% in the third quarter. Tobam now owns 482 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 274 shares during the period. Finally, Transamerica Financial Advisors Inc. acquired a new stake in shares of East West Bancorp in the third quarter worth $79,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Price Performance

EWBC traded down $1.86 during midday trading on Wednesday, reaching $97.11. 624,158 shares of the company's stock were exchanged, compared to its average volume of 900,566. East West Bancorp, Inc. has a one year low of $68.36 and a one year high of $113.95. The firm has a market capitalization of $13.46 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 1.36 and a beta of 1.30. The business has a 50-day simple moving average of $99.75 and a two-hundred day simple moving average of $93.02. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46.

East West Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.47%. This is a boost from East West Bancorp's previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Monday, February 3rd. East West Bancorp's dividend payout ratio is 28.81%.

Insider Buying and Selling at East West Bancorp

In other news, Director Jack C. Liu sold 1,275 shares of East West Bancorp 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 approximately $1,521,643.21. The trade was a 8.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EWBC. Truist Financial lifted their target price on shares of East West Bancorp from $93.00 to $101.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Compass Point lifted their price objective on East West Bancorp from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Wedbush increased their target price on East West Bancorp from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Piper Sandler lowered their target price on East West Bancorp from $100.00 to $97.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. Finally, StockNews.com upgraded shares of East West Bancorp from a "sell" rating to a "hold" rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $110.38.

East West Bancorp 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.