Teacher Retirement System of Texas Purchases 4,162 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Teacher Retirement System of Texas lifted its position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 11.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 39,795 shares of the financial services provider’s stock after acquiring an additional 4,162 shares during the quarter. Teacher Retirement System of Texas’ holdings in East West Bancorp were worth $3,811,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. boosted its position in East West Bancorp by 3.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 10,171 shares of the financial services provider’s stock worth $974,000 after purchasing an additional 336 shares during the period. Nordea Investment Management AB boosted its holdings in East West Bancorp by 108.5% in the 4th quarter. Nordea Investment Management AB now owns 54,851 shares of the financial services provider’s stock worth $5,282,000 after buying an additional 28,549 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in East West Bancorp by 1,667.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 670,156 shares of the financial services provider’s stock valued at $64,174,000 after buying an additional 632,245 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in East West Bancorp by 18.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 100,320 shares of the financial services provider’s stock valued at $9,699,000 after acquiring an additional 15,475 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of East West Bancorp by 10.0% during the fourth quarter. Fisher Asset Management LLC now owns 755,555 shares of the financial services provider’s stock worth $72,352,000 after acquiring an additional 68,528 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Trading Up 3.6 %

Shares of EWBC stock opened at $93.26 on Tuesday. The business has a 50-day moving average price of $96.03 and a two-hundred day moving average price of $95.19. East West Bancorp, Inc. has a 12-month low of $68.78 and a 12-month high of $113.95. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46. The firm has a market cap of $12.91 billion, a P/E ratio of 11.20, a price-to-earnings-growth ratio of 1.29 and a beta of 1.28.

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 paid a $0.60 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.40 annualized dividend and a yield of 2.57%. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.55. East West Bancorp’s dividend payout ratio is currently 28.81%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EWBC shares. Wells Fargo & Company lifted their price target on East West Bancorp from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Piper Sandler reduced their target price on East West Bancorp from $100.00 to $97.00 and set a “neutral” rating for the company in a report on Monday, January 27th. UBS Group began coverage on shares of East West Bancorp in a report on Tuesday, December 17th. They issued a “neutral” rating and a $112.00 price target on the stock. Stephens cut shares of East West Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods increased their target price on shares of East West Bancorp from $96.00 to $128.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, East West Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $111.31.

Insider Buying and Selling at East West Bancorp

In related news, Director Jack C. Liu sold 725 shares of East West Bancorp stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $104.50, for a total value of $75,762.50. Following the transaction, the director now owns 15,832 shares in the company, valued at $1,654,444. This trade represents a 4.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dominic Ng sold 20,181 shares of the company’s stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,181 shares of company stock worth $5,625,732 over the last ninety days. Insiders own 1.04% of the company’s stock.

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.