Twelve Points Wealth Management LLC Has $677,000 Stock Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Twelve Points Wealth Management LLC increased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 12.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,066 shares of the financial services provider’s stock after purchasing an additional 785 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in East West Bancorp were worth $677,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of EWBC. Millennium Management LLC grew its holdings in shares of East West Bancorp by 152.1% during the second quarter. Millennium Management LLC now owns 374,213 shares of the financial services provider’s stock valued at $27,404,000 after buying an additional 225,799 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of East West Bancorp by 39.9% during the third quarter. Westfield Capital Management Co. LP now owns 520,656 shares of the financial services provider’s stock valued at $43,079,000 after buying an additional 148,530 shares in the last quarter. FMR LLC grew its holdings in shares of East West Bancorp by 1.8% during the third quarter. FMR LLC now owns 7,882,803 shares of the financial services provider’s stock valued at $652,223,000 after buying an additional 136,528 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of East West Bancorp during the fourth quarter valued at $12,734,000. Finally, Jennison Associates LLC grew its holdings in shares of East West Bancorp by 7.3% during the third quarter. Jennison Associates LLC now owns 1,804,288 shares of the financial services provider’s stock valued at $149,287,000 after buying an additional 123,376 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Insider Buying and Selling

In related news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the transaction, the insider now directly owns 45,403 shares in the company, valued at $4,840,413.83. The trade was a 20.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rudolph Estrada sold 469 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $98.04, for a total value of $45,980.76. Following the transaction, the director now owns 17,750 shares in the company, valued at $1,740,210. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,194 shares of company stock valued at $1,401,063. Insiders own 1.04% of the company’s stock.

East West Bancorp Price Performance

NASDAQ EWBC opened at $103.02 on Wednesday. East West Bancorp, Inc. has a twelve month low of $67.27 and a twelve month high of $113.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $14.28 billion, a PE ratio of 13.01, a P/E/G ratio of 2.85 and a beta of 1.30. The stock has a 50-day simple moving average of $101.28 and a 200 day simple moving average of $91.70.

East West Bancorp Increases Dividend

The firm also recently disclosed 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. This represents a $2.40 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Monday, February 3rd. This is a boost from East West Bancorp’s previous quarterly dividend of $0.55. East West Bancorp’s payout ratio is currently 27.78%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Piper Sandler lowered their target price on East West Bancorp from $100.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday. Barclays lowered their target price 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. Compass Point boosted their target price on East West Bancorp from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods boosted their target price on East West Bancorp from $96.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Stephens downgraded East West Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.38.

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.