Pacific Global Investment Management Co. Sells 3,571 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Pacific Global Investment Management Co. lowered its stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 12.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 26,040 shares of the financial services provider's stock after selling 3,571 shares during the period. East West Bancorp makes up 3.2% of Pacific Global Investment Management Co.'s portfolio, making the stock its 7th largest holding. Pacific Global Investment Management Co.'s holdings in East West Bancorp were worth $2,494,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of East West Bancorp during the 3rd quarter valued at $25,000. Wilmington Savings Fund Society FSB acquired a new stake in East West Bancorp during the third quarter worth about $26,000. Venturi Wealth Management LLC increased its holdings in 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. UMB Bank n.a. increased its holdings in East West Bancorp by 83.4% in the 4th quarter. UMB Bank n.a. now owns 662 shares of the financial services provider's stock valued at $63,000 after buying an additional 301 shares during the period. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of East West Bancorp in the 3rd quarter valued at approximately $79,000. 89.53% of the stock is owned by institutional investors.

Insider Transactions at East West Bancorp

In related news, Director Jack C. Liu sold 1,275 shares of the company's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $104.53, for a total transaction of $133,275.75. Following the sale, the director now owns 14,557 shares in the company, valued at $1,521,643.21. This represents a 8.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.04% of the stock is currently owned by corporate insiders.

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East West Bancorp Trading Down 1.1 %

EWBC traded down $1.03 during midday trading on Thursday, hitting $89.41. 1,099,449 shares of the company were exchanged, compared to its average volume of 857,351. The firm has a market capitalization of $12.39 billion, a P/E ratio of 10.73, a P/E/G ratio of 1.29 and a beta of 1.30. The firm's 50 day moving average price is $97.98 and its 200-day moving average price is $94.57. 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, Inc. has a 1-year low of $68.78 and a 1-year high of $113.95.

East West Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 17th. Investors of record on Monday, February 3rd were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from East West Bancorp's previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a yield of 2.68%. East West Bancorp's dividend payout ratio is presently 28.81%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Compass Point lifted their price objective on shares of East West Bancorp from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Wells Fargo & Company lifted their price target on East West Bancorp from $105.00 to $120.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. 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 price objective for the company. DA Davidson decreased their price target on shares of East West Bancorp from $120.00 to $118.00 and set a "buy" rating on the stock in a report on Friday, January 24th. Finally, Stephens lowered shares of East West Bancorp from an "overweight" rating to an "equal weight" rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $110.38.

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.