WCM Investment Management LLC reduced its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 14.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,821 shares of the financial services provider's stock after selling 7,422 shares during the period. WCM Investment Management LLC's holdings in East West Bancorp were worth $4,123,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of EWBC. Westfield Capital Management Co. LP boosted its holdings in shares of East West Bancorp by 39.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 520,656 shares of the financial services provider's stock worth $43,079,000 after buying an additional 148,530 shares during the period. FMR LLC boosted its holdings in East West Bancorp by 1.8% in the 3rd quarter. FMR LLC now owns 7,882,803 shares of the financial services provider's stock valued at $652,223,000 after purchasing an additional 136,528 shares during the period. Assenagon Asset Management S.A. bought a new stake in East West Bancorp in the 4th quarter valued at $12,734,000. Jennison Associates LLC boosted its holdings in East West Bancorp by 7.3% in the 3rd quarter. Jennison Associates LLC now owns 1,804,288 shares of the financial services provider's stock valued at $149,287,000 after purchasing an additional 123,376 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in East West Bancorp by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,608,132 shares of the financial services provider's stock valued at $216,438,000 after purchasing an additional 122,738 shares during the period. 89.53% of the stock is owned by institutional investors.
East West Bancorp Price Performance
Shares of East West Bancorp stock traded up $0.55 during mid-day trading on Thursday, reaching $97.66. 572,239 shares of the stock were exchanged, compared to its average volume of 889,243. The company has a market cap of $13.54 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.36 and a beta of 1.30. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm has a 50-day simple moving average of $99.56 and a 200 day simple moving average of $93.05. East West Bancorp, Inc. has a fifty-two week low of $68.78 and a fifty-two week high of $113.95.
East West Bancorp Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.46%. This is a boost from East West Bancorp's previous quarterly dividend of $0.55. East West Bancorp's dividend payout ratio (DPR) is 28.81%.
Analysts Set New Price Targets
EWBC has been the subject of a number of research reports. Compass Point increased their price target on shares of East West Bancorp from $110.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. UBS Group initiated coverage on shares of East West Bancorp in a report on Tuesday, December 17th. They issued a "neutral" rating and a $112.00 price target for the company. Keefe, Bruyette & Woods increased their price target on shares of East West Bancorp from $96.00 to $128.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. DA Davidson reduced their price target on shares of East West Bancorp from $120.00 to $118.00 and set a "buy" rating for the company in a report on Friday, January 24th. Finally, Barclays dropped their price objective on shares of East West Bancorp from $125.00 to $120.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $110.38.
View Our Latest Stock Analysis on EWBC
Insider Buying and Selling
In related news, Director Jack C. Liu sold 725 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $104.50, for a total transaction of $75,762.50. Following the completion of the sale, the director now owns 15,832 shares in the company, valued at $1,654,444. This trade represents a 4.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.04% of the stock is currently owned by corporate insiders.
About East West Bancorp
(
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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