East West Bancorp, Inc. (NASDAQ:EWBC) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,100 shares of the financial services provider’s stock after acquiring an additional 3,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in East West Bancorp were worth $3,265,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Creative Planning grew its holdings in East West Bancorp by 6.6% in the third quarter. Creative Planning now owns 16,094 shares of the financial services provider’s stock valued at $1,332,000 after purchasing an additional 992 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of East West Bancorp by 11.3% in the 3rd quarter. Private Advisor Group LLC now owns 4,564 shares of the financial services provider’s stock worth $378,000 after buying an additional 462 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in East West Bancorp in the 3rd quarter valued at about $3,142,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in East West Bancorp by 10.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 84,845 shares of the financial services provider’s stock valued at $6,917,000 after acquiring an additional 8,134 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in East West Bancorp by 21.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,366 shares of the financial services provider’s stock valued at $361,000 after acquiring an additional 760 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

Analyst Ratings Changes

EWBC has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of East West Bancorp from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Compass Point increased their target price on East West Bancorp from $110.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. UBS Group began coverage on East West Bancorp in a report on Tuesday, December 17th. They issued a “neutral” rating and a $112.00 price target for the company. Stephens lowered East West Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Finally, Piper Sandler cut their target price 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $110.38.

East West Bancorp Trading Down 3.3 %

Shares of EWBC stock opened at $93.89 on Monday. The firm’s 50-day simple moving average is $98.68 and its 200-day simple moving average is $93.89. 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, Inc. has a 1-year low of $68.78 and a 1-year high of $113.95. The firm has a market cap of $13.02 billion, a P/E ratio of 11.27, a PEG ratio of 1.29 and a beta of 1.30.

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 paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 2.56%. This is an increase from East West Bancorp’s previous quarterly dividend of $0.55. East West Bancorp’s dividend payout ratio (DPR) is currently 28.81%.

Insider Buying and Selling at East West Bancorp

In related news, Director Jack C. Liu sold 725 shares of the 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 transaction, the director now directly owns 15,832 shares of the company’s stock, valued at approximately $1,654,444. This trade represents a 4.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.04% of the stock is owned by company insiders.

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.