AlphaQuest LLC Sells 6,766 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

AlphaQuest LLC trimmed its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 27.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,141 shares of the financial services provider’s stock after selling 6,766 shares during the quarter. AlphaQuest LLC’s holdings in East West Bancorp were worth $1,737,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of East West Bancorp in the 4th quarter worth about $32,138,000. Victory Capital Management Inc. boosted its stake in East West Bancorp by 171.3% during the 4th quarter. Victory Capital Management Inc. now owns 384,780 shares of the financial services provider’s stock valued at $36,847,000 after purchasing an additional 242,928 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in East West Bancorp by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,418,840 shares of the financial services provider’s stock worth $423,148,000 after purchasing an additional 186,887 shares in the last quarter. Westfield Capital Management Co. LP raised its position in East West Bancorp by 39.9% in the 3rd 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 during the last quarter. Finally, FMR LLC boosted its holdings in East West Bancorp by 1.8% during the 3rd quarter. FMR LLC now owns 7,882,803 shares of the financial services provider’s stock worth $652,223,000 after acquiring an additional 136,528 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors.

East West Bancorp Stock Down 0.4 %

EWBC stock opened at $89.08 on Friday. The stock has a fifty day moving average of $97.68 and a 200-day moving average of $94.69. 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 market capitalization of $12.33 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 1.29 and a beta of 1.28. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.91.

East West Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Monday, February 3rd. 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 currently 28.81%.

Insider Transactions at East West Bancorp

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on EWBC shares. Compass Point increased their target price 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. Keefe, Bruyette & Woods increased their price objective on shares of East West Bancorp from $96.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. DA Davidson dropped their target price on shares of East West Bancorp from $120.00 to $118.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Wells Fargo & Company upped their target price on East West Bancorp from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Stephens lowered East West Bancorp from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.38.

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.