Wealthfront Advisers LLC Takes Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Wealthfront Advisers LLC acquired a new position in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 39,419 shares of the financial services provider's stock, valued at approximately $3,775,000.

A number of other hedge funds also recently bought and sold shares of EWBC. US Bancorp DE increased its holdings in East West Bancorp by 7.8% during the third quarter. US Bancorp DE now owns 1,949 shares of the financial services provider's stock valued at $161,000 after buying an additional 141 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of East West Bancorp by 23.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,835 shares of the financial services provider's stock valued at $813,000 after acquiring an additional 1,865 shares during the period. State of New Jersey Common Pension Fund D increased its stake in shares of East West Bancorp by 5.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 35,362 shares of the financial services provider's stock worth $2,926,000 after purchasing an additional 1,891 shares in the last quarter. GSA Capital Partners LLP bought a new position in East West Bancorp in the 3rd quarter worth $339,000. Finally, KBC Group NV raised its holdings in East West Bancorp by 16.3% in the 3rd quarter. KBC Group NV now owns 4,020 shares of the financial services provider's stock worth $333,000 after purchasing an additional 562 shares during the period. Hedge funds and other institutional investors own 89.53% of the company's stock.

East West Bancorp Price Performance

NASDAQ EWBC traded up $0.82 on Monday, reaching $88.79. The company had a trading volume of 896,148 shares, compared to its average volume of 831,642. The firm's 50 day moving average price is $96.66 and its 200 day moving average price is $94.88. East West Bancorp, Inc. has a 12 month low of $68.78 and a 12 month high of $113.95. The stock has a market capitalization of $12.29 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.29 and a beta of 1.28. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46.

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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 $0.60 dividend. This is an increase from East West Bancorp's previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Monday, February 3rd. East West Bancorp's payout ratio is currently 28.81%.

Insider Activity at East West Bancorp

In other East West Bancorp news, CEO Dominic Ng sold 20,181 shares of East West Bancorp stock in a transaction on Friday, March 7th. The shares were sold at an average price of $90.01, for a total value of $1,816,491.81. Following the completion of the transaction, the chief executive officer now directly owns 988,133 shares of the company's stock, valued at $88,941,851.33. This trade represents a 2.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jack C. Liu sold 725 shares of the company's 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 sale, the director now owns 15,832 shares in the company, valued at $1,654,444. This represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,362 shares of company stock valued at $3,842,022. Insiders own 1.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EWBC. Barclays reduced their price target on East West Bancorp from $125.00 to $120.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. UBS Group assumed coverage on shares of East West Bancorp in a report on Tuesday, December 17th. They issued a "neutral" rating and a $112.00 target price for the company. Morgan Stanley decreased their target price on shares of East West Bancorp from $127.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday. DA Davidson dropped 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 research report on Friday, January 24th. Finally, Piper Sandler decreased their price objective on shares of East West Bancorp from $100.00 to $97.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, East West Bancorp presently has an average rating of "Moderate Buy" and an average price target 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.