Retirement Systems of Alabama Sells 17,799 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Retirement Systems of Alabama cut its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 363,956 shares of the financial services provider's stock after selling 17,799 shares during the period. Retirement Systems of Alabama owned approximately 0.26% of East West Bancorp worth $34,852,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in shares of East West Bancorp during the third quarter worth $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of East West Bancorp in the third quarter valued at about $26,000. UMB Bank n.a. boosted its position in shares of 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 worth $30,000 after buying an additional 283 shares during the period. Tobam grew its holdings in shares of East West Bancorp by 131.7% during the third quarter. Tobam now owns 482 shares of the financial services provider's stock worth $40,000 after buying an additional 274 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. bought a new position in shares of East West Bancorp during the third quarter worth about $79,000. 89.53% of the stock is currently owned by institutional investors.

Insider Transactions at East West Bancorp

In other East West Bancorp 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 value of $1,279,320.00. Following the completion of the transaction, the insider now directly owns 45,403 shares of the company's stock, valued at $4,840,413.83. The trade was a 20.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack C. Liu sold 725 shares of the 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 sale, the director now directly owns 15,832 shares in the company, valued at approximately $1,654,444. This trade represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock worth $1,488,358 over the last quarter. Company insiders own 1.04% of the company's stock.

East West Bancorp Stock Performance

East West Bancorp stock traded down $1.84 during mid-day trading on Friday, hitting $100.23. 527,944 shares of the company's stock traded hands, compared to its average volume of 944,628. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.91 and a quick ratio of 0.92. The firm has a 50 day simple moving average of $100.12 and a two-hundred day simple moving average of $92.74. East West Bancorp, Inc. has a fifty-two week low of $68.21 and a fifty-two week high of $113.95. The stock has a market cap of $13.89 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 1.36 and a beta of 1.30.

East West Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.60 per share. The ex-dividend date is Monday, February 3rd. This is an increase from East West Bancorp's previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a yield of 2.39%. East West Bancorp's dividend payout ratio (DPR) is 28.81%.

Analyst Ratings Changes

A number of research firms have weighed in on EWBC. StockNews.com downgraded East West Bancorp from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Wells Fargo & Company increased their target price on shares of East West Bancorp from $105.00 to $120.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. UBS Group initiated coverage on shares of East West Bancorp in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $112.00 price target on the stock. Barclays decreased their price objective on East West Bancorp from $125.00 to $120.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Finally, DA Davidson dropped their target price on East West Bancorp from $120.00 to $118.00 and set a "buy" rating on the stock in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.