Access Investment Management LLC Has $12.32 Million Stock Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Access Investment Management LLC lifted its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,615 shares of the financial services provider’s stock after acquiring an additional 275 shares during the quarter. East West Bancorp makes up 3.6% of Access Investment Management LLC’s portfolio, making the stock its 8th biggest position. Access Investment Management LLC’s holdings in East West Bancorp were worth $12,316,000 as of its most recent SEC filing.

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

East West Bancorp Price Performance

Shares of NASDAQ EWBC opened at $93.89 on Friday. East West Bancorp, Inc. has a twelve month low of $68.78 and a twelve month 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. The company has a 50 day moving average of $98.68 and a 200 day moving average of $93.77. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46.

East West Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.40 annualized dividend and a dividend yield of 2.56%. This is a boost 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 news, Director Jack C. Liu sold 1,275 shares of the business’s 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 transaction, the director now directly owns 14,557 shares of the company’s stock, valued at $1,521,643.21. The trade was a 8.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EWBC. Keefe, Bruyette & Woods increased their target price on East West Bancorp from $96.00 to $128.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler lowered their target price 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. UBS Group started coverage on East West Bancorp in a research report on Tuesday, December 17th. They set a “neutral” rating and a $112.00 price objective for the company. DA Davidson lowered their price objective on East West Bancorp from $120.00 to $118.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Finally, Wells Fargo & Company lifted their target price on shares of East West Bancorp from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.38.

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.