East West Bancorp, Inc. (NASDAQ:EWBC) Shares Acquired by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC increased its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 12.3% in the fourth quarter, Holdings Channel reports. The firm owned 2,409 shares of the financial services provider’s stock after purchasing an additional 263 shares during the period. Chicago Partners Investment Group LLC’s holdings in East West Bancorp were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in EWBC. FMR LLC boosted its holdings in shares of East West Bancorp by 1.8% in the 3rd quarter. FMR LLC now owns 7,882,803 shares of the financial services provider’s stock valued at $652,223,000 after buying an additional 136,528 shares in the last quarter. State Street Corp grew its stake in East West Bancorp by 1.4% in the 3rd quarter. State Street Corp now owns 5,314,994 shares of the financial services provider’s stock worth $439,763,000 after acquiring an additional 75,024 shares during the period. Charles Schwab Investment Management Inc. lifted its position in East West Bancorp by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,231,953 shares of the financial services provider’s stock worth $350,152,000 after buying an additional 96,729 shares during the period. Geode Capital Management LLC boosted its position in shares of East West Bancorp by 4.9% in the third quarter. Geode Capital Management LLC now owns 2,608,132 shares of the financial services provider’s stock worth $216,438,000 after acquiring an additional 122,738 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of East West Bancorp by 7.3% in the 3rd quarter. Jennison Associates LLC now owns 1,804,288 shares of the financial services provider’s stock valued at $149,287,000 after purchasing an additional 123,376 shares during the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EWBC has been the subject of a number of research reports. Barclays decreased their target price 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. DA Davidson cut their target price on shares of 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. Piper Sandler decreased their price target on shares of East West Bancorp from $100.00 to $97.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. StockNews.com lowered East West Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Finally, Citigroup boosted their price objective on East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.38.

East West Bancorp Trading Down 0.3 %

Shares of EWBC opened at $101.36 on Thursday. East West Bancorp, Inc. has a one year low of $67.27 and a one year high of $113.95. The stock has a 50-day moving average price of $100.64 and a 200 day moving average price of $92.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.91. The company has a market capitalization of $14.05 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.37 and a beta of 1.30.

East West Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.37%. This is an increase from East West Bancorp’s previous quarterly dividend of $0.55. East West Bancorp’s dividend payout ratio (DPR) is presently 26.41%.

Insider Buying and Selling

In related news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the business’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 completion of the sale, the insider now directly owns 45,403 shares of the company’s stock, valued at $4,840,413.83. The trade was a 20.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jack C. Liu sold 1,275 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $104.53, for a total value of $133,275.75. Following the transaction, the director now directly owns 14,557 shares in the company, valued at approximately $1,521,643.21. This represents a 8.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,000 shares of company stock worth $1,488,358. 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.