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

AlphaQuest LLC lessened its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 27.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,141 shares of the financial services provider’s stock after selling 6,766 shares during the period. AlphaQuest LLC’s holdings in East West Bancorp were worth $1,737,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of EWBC. Wealth Enhancement Advisory Services LLC increased its position in East West Bancorp by 21.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,366 shares of the financial services provider’s stock worth $361,000 after buying an additional 760 shares during the last quarter. US Bancorp DE increased its holdings in shares of East West Bancorp by 7.8% during the 3rd quarter. US Bancorp DE now owns 1,949 shares of the financial services provider’s stock worth $161,000 after acquiring an additional 141 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in East West Bancorp by 159.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 29,587 shares of the financial services provider’s stock valued at $2,448,000 after acquiring an additional 18,166 shares during the period. Capital Performance Advisors LLP acquired a new stake in East West Bancorp during the 3rd quarter valued at $25,000. Finally, Verdence Capital Advisors LLC lifted its holdings in East West Bancorp by 5.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 4,884 shares of the financial services provider’s stock valued at $404,000 after purchasing an additional 243 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Stock Down 0.4 %

Shares of NASDAQ EWBC opened at $89.08 on Friday. The stock has a market capitalization of $12.33 billion, a P/E ratio of 10.69, a PEG ratio of 1.29 and a beta of 1.28. The stock’s fifty day moving average is $97.68 and its 200 day moving average is $94.69. East West Bancorp, Inc. has a 52 week low of $68.78 and a 52 week 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 0.91.

East West Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were issued a $0.60 dividend. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Monday, February 3rd. East West Bancorp’s dividend payout ratio (DPR) is currently 28.81%.

Wall Street Analyst Weigh In

EWBC has been the topic of several research analyst reports. Compass Point increased their price objective on shares of East West Bancorp from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. DA Davidson lowered their price target on shares of East West Bancorp from $120.00 to $118.00 and set a “buy” rating on the stock in a report on Friday, January 24th. StockNews.com downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, February 19th. Stephens downgraded East West Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods lifted their price target on East West Bancorp from $96.00 to $128.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $110.38.

Insider Activity

In other news, CEO Dominic Ng sold 20,181 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 988,133 shares of the company’s stock, valued at approximately $88,941,851.33. The trade was a 2.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 725 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $104.50, for a total value of $75,762.50. Following the sale, the director now owns 15,832 shares of the company’s stock, valued at approximately $1,654,444. This represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,362 shares of company stock worth $3,842,022. 1.04% of the stock is currently owned by corporate insiders.

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.