Whittier Trust Co. Purchases 9,746 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Whittier Trust Co. raised its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 259,888 shares of the financial services provider’s stock after acquiring an additional 9,746 shares during the period. Whittier Trust Co. owned about 0.19% of East West Bancorp worth $24,887,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new position in shares of East West Bancorp during the 3rd quarter valued at $26,000. Venturi Wealth Management LLC increased its holdings in shares of East West Bancorp by 73.2% in the fourth quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider’s stock worth $40,000 after buying an additional 175 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of East West Bancorp by 119.1% in the 4th quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 306 shares during the last quarter. UMB Bank n.a. boosted its holdings in East West Bancorp by 83.4% during the 4th quarter. UMB Bank n.a. now owns 662 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 301 shares during the period. Finally, Transamerica Financial Advisors Inc. bought a new position in East West Bancorp during the 3rd quarter worth approximately $79,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Price Performance

Shares of EWBC opened at $90.36 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp, Inc. has a 1-year low of $68.78 and a 1-year high of $113.95. The firm has a market cap of $12.51 billion, a PE ratio of 10.85, a P/E/G ratio of 1.29 and a beta of 1.28. The firm has a fifty day simple moving average of $96.25 and a two-hundred day simple moving average of $94.92.

East West Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.66%. 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 payout ratio is currently 28.81%.

Insider Transactions at East West Bancorp

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

Wall Street Analysts Forecast Growth

EWBC has been the subject of a number of analyst reports. Piper Sandler dropped their price objective on East West Bancorp from $100.00 to $97.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Stephens lowered shares of East West Bancorp from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. Compass Point raised their price target on shares of East West Bancorp from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. DA Davidson lowered their price objective on shares of East West Bancorp from $120.00 to $118.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Finally, Barclays dropped their target price on shares of East West Bancorp from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.