Thrivent Financial for Lutherans Reduces Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Thrivent Financial for Lutherans reduced its position in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 17.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 68,247 shares of the financial services provider's stock after selling 14,588 shares during the period. Thrivent Financial for Lutherans' holdings in East West Bancorp were worth $6,536,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in East West Bancorp in the third quarter valued at approximately $26,000. Venturi Wealth Management LLC grew its stake in East West Bancorp by 73.2% during the 4th quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider's stock worth $40,000 after buying an additional 175 shares during the last quarter. Farther Finance Advisors LLC increased its position in East West Bancorp by 119.1% during the 4th quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider's stock valued at $54,000 after buying an additional 306 shares in the last quarter. UMB Bank n.a. raised its stake in East West Bancorp by 83.4% in the fourth 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 last quarter. Finally, Transamerica Financial Advisors Inc. acquired a new stake in East West Bancorp in the third quarter worth about $79,000. Hedge funds and other institutional investors own 89.53% of the company's stock.

Insider Activity

In other news, Director Jack C. Liu sold 1,275 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $104.53, for a total value of $133,275.75. Following the transaction, the director now owns 14,557 shares in the company, valued at $1,521,643.21. This trade represents a 8.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Dominic Ng sold 19,819 shares of East West Bancorp stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $90.00, for a total value of $1,783,710.00. Following the completion of the sale, the chief executive officer now directly owns 968,314 shares in the company, valued at $87,148,260. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,181 shares of company stock worth $5,625,732 in the last quarter. Corporate insiders own 1.04% of the company's stock.

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East West Bancorp Price Performance

Shares of EWBC stock traded down $1.37 during mid-day trading on Thursday, hitting $90.87. 914,743 shares of the stock were exchanged, compared to its average volume of 843,102. 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 52-week low of $68.78 and a 52-week high of $113.95. The firm has a fifty day moving average of $95.75 and a 200 day moving average of $95.27. The company has a market cap of $12.58 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 1.29 and a beta of 1.28.

East West Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.64%. This is an increase from East West Bancorp's previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Monday, February 3rd. East West Bancorp's dividend payout ratio is presently 28.81%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on EWBC shares. StockNews.com upgraded shares of East West Bancorp from a "sell" rating to a "hold" rating in a report on Thursday, March 20th. Piper Sandler decreased their price target on shares of East West Bancorp from $100.00 to $97.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Keefe, Bruyette & Woods lifted their price objective on shares of East West Bancorp from $96.00 to $128.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. DA Davidson cut their target price on East West Bancorp from $120.00 to $118.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Finally, Compass Point lifted their price target on East West Bancorp from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, East West Bancorp presently has an average rating of "Moderate Buy" and an average target price of $111.31.

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.