East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC trimmed its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 14.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,821 shares of the financial services provider’s stock after selling 7,422 shares during the period. WCM Investment Management LLC’s holdings in East West Bancorp were worth $4,123,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in East West Bancorp in the 3rd quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB acquired a new stake in East West Bancorp in the third quarter valued at $26,000. UMB Bank n.a. increased its position in shares of East West Bancorp by 362.8% in the third quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock valued at $30,000 after buying an additional 283 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new position in shares of East West Bancorp during the 3rd quarter worth $79,000. Finally, Quarry LP boosted its position in shares of East West Bancorp by 822.9% in the 3rd quarter. Quarry LP now owns 1,006 shares of the financial services provider’s stock worth $83,000 after buying an additional 897 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on EWBC. StockNews.com downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Piper Sandler dropped their price objective on shares of 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. DA Davidson reduced their target price on East West Bancorp from $120.00 to $118.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Citigroup raised their price target on East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays cut their price target on East West Bancorp from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, January 24th. One research 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 company currently has an average rating of “Moderate Buy” and an average price target of $110.38.

East West Bancorp Trading Down 1.8 %

Shares of EWBC stock opened at $100.23 on Monday. East West Bancorp, Inc. has a 1-year low of $68.21 and a 1-year high of $113.95. The firm’s 50-day simple moving average is $100.12 and its 200-day simple moving average is $92.81. The firm has a market cap of $13.89 billion, a P/E ratio of 12.03, a PEG ratio of 1.36 and a beta of 1.30. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.91 and a quick ratio of 0.92.

East West Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is 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 28.81%.

Insider Activity

In other news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total value 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. This trade represents a 20.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jack C. Liu sold 725 shares of the business’s stock in a transaction dated 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 $1,654,444. The trade was a 4.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock valued at $1,488,358 in the last ninety days. Company insiders own 1.04% of the company’s stock.

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.