William Blair Investment Management LLC Lowers Stock Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

William Blair Investment Management LLC trimmed its holdings in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 20.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 490,409 shares of the financial services provider's stock after selling 125,024 shares during the period. William Blair Investment Management LLC owned approximately 0.35% of East West Bancorp worth $46,962,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System grew its position in East West Bancorp by 0.3% in the fourth quarter. Louisiana State Employees Retirement System now owns 38,500 shares of the financial services provider's stock worth $3,687,000 after acquiring an additional 100 shares during the period. Jones Financial Companies Lllp boosted its position in shares of East West Bancorp by 4.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,336 shares of the financial services provider's stock worth $224,000 after buying an additional 100 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of East West Bancorp by 1.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,777 shares of the financial services provider's stock worth $1,128,000 after buying an additional 128 shares during the period. Lindenwold Advisors INC boosted its position in shares of East West Bancorp by 1.8% during the third quarter. Lindenwold Advisors INC now owns 7,270 shares of the financial services provider's stock worth $602,000 after buying an additional 129 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of East West Bancorp by 0.3% during the fourth quarter. Arizona State Retirement System now owns 40,196 shares of the financial services provider's stock worth $3,849,000 after buying an additional 130 shares during the period. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

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East West Bancorp Stock Up 2.4 %

East West Bancorp stock traded up $2.14 during midday trading on Wednesday, reaching $90.33. The company's stock had a trading volume of 342,062 shares, compared to its average volume of 829,973. East West Bancorp, Inc. has a fifty-two week low of $68.78 and a fifty-two week high of $113.95. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46. The company has a market cap of $12.50 billion, a P/E ratio of 10.86, a P/E/G ratio of 1.29 and a beta of 1.28. The business has a 50-day simple moving average of $96.35 and a 200-day simple moving average of $94.95.

East West Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from East West Bancorp's previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a yield of 2.66%. East West Bancorp's dividend payout ratio (DPR) is currently 28.81%.

Insider Transactions at East West Bancorp

In other news, Director Jack C. Liu sold 1,275 shares of East West Bancorp stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $104.53, for a total transaction of $133,275.75. Following the sale, the director now owns 14,557 shares in the company, valued at approximately $1,521,643.21. The trade was a 8.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dominic Ng sold 20,181 shares of East West Bancorp stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $90.01, for a total value of $1,816,491.81. Following the sale, the chief executive officer now owns 988,133 shares in the company, valued at $88,941,851.33. This trade represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,362 shares of company stock worth $3,842,022. Corporate insiders own 1.04% of the company's stock.

Wall Street Analysts Forecast Growth

EWBC has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their price target on East West Bancorp from $96.00 to $128.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Piper Sandler lowered their price target on East West Bancorp from $100.00 to $97.00 and set a "neutral" rating for the company in a research report on Monday, January 27th. UBS Group began coverage on East West Bancorp in a research report on Tuesday, December 17th. They set a "neutral" rating and a $112.00 price target for the company. Wells Fargo & Company increased their price objective on East West Bancorp from $105.00 to $120.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. Finally, Barclays reduced their price objective on East West Bancorp from $125.00 to $120.00 and set an "overweight" rating on the stock in a research note on Friday, January 24th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $111.31.

East West Bancorp Company 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.