Versor Investments LP purchased a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,500 shares of the financial services provider's stock, valued at approximately $527,000.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. raised its position in East West Bancorp by 3.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 10,171 shares of the financial services provider's stock worth $974,000 after buying an additional 336 shares during the last quarter. Nordea Investment Management AB raised its holdings in East West Bancorp by 108.5% during the fourth quarter. Nordea Investment Management AB now owns 54,851 shares of the financial services provider's stock worth $5,282,000 after purchasing an additional 28,549 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in East West Bancorp in the third quarter valued at about $4,157,000. Quest Partners LLC lifted its position in East West Bancorp by 830,133.3% in the third quarter. Quest Partners LLC now owns 24,907 shares of the financial services provider's stock valued at $2,061,000 after purchasing an additional 24,904 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in East West Bancorp by 159.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 29,587 shares of the financial services provider's stock valued at $2,448,000 after purchasing an additional 18,166 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently commented on EWBC. Wells Fargo & Company raised their price target on East West Bancorp from $105.00 to $120.00 and gave the company an "overweight" rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their target price on shares of East West Bancorp from $96.00 to $128.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. StockNews.com downgraded shares of East West Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, February 19th. Piper Sandler reduced their price objective on shares of East West Bancorp from $100.00 to $97.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Finally, Barclays lowered their target price on shares of East West Bancorp from $125.00 to $120.00 and set an "overweight" rating on the stock in a research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $110.38.
Read Our Latest Analysis on EWBC
Insiders Place Their Bets
In other East West Bancorp news, Director Jack C. Liu sold 1,275 shares of the firm's stock in a transaction dated Thursday, January 30th. The stock was 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 of the company's stock, valued at approximately $1,521,643.21. This trade represents a 8.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.04% of the stock is owned by corporate insiders.
East West Bancorp Price Performance
Shares of EWBC traded up $0.14 during trading hours on Wednesday, reaching $90.44. 1,466,779 shares of the company traded hands, compared to its average volume of 856,516. The stock has a fifty day simple moving average of $97.98 and a 200 day simple moving average of $94.57. East West Bancorp, Inc. has a fifty-two week low of $68.78 and a fifty-two week high of $113.95. The stock has a market capitalization of $12.54 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 1.29 and a beta of 1.30. 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 company also recently announced a quarterly dividend, which was paid on Monday, February 17th. Investors of record on Monday, February 3rd were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 2.65%. This is a positive change from East West Bancorp's previous quarterly dividend of $0.55. East West Bancorp's dividend payout ratio (DPR) is 28.81%.
East West Bancorp Company Profile
(
Free Report)
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.
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