East West Bancorp, Inc. (NASDAQ:EWBC) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,858 shares of the financial services provider’s stock after selling 7,043 shares during the quarter. Corebridge Financial Inc.’s holdings in East West Bancorp were worth $15,021,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System lifted its holdings in East West Bancorp by 0.3% in the fourth quarter. Louisiana State Employees Retirement System now owns 38,500 shares of the financial services provider’s stock valued at $3,687,000 after acquiring an additional 100 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of East West Bancorp by 4.5% in the 4th quarter. Jones Financial Companies Lllp now owns 2,336 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 100 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of East West Bancorp by 1.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,777 shares of the financial services provider’s stock worth $1,128,000 after purchasing an additional 128 shares during the period. Arizona State Retirement System increased its position in shares of East West Bancorp by 0.3% during the 4th quarter. Arizona State Retirement System now owns 40,196 shares of the financial services provider’s stock worth $3,849,000 after purchasing an additional 130 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in East West Bancorp by 3.8% in the 4th quarter. Blue Trust Inc. now owns 3,583 shares of the financial services provider’s stock valued at $343,000 after buying an additional 132 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Insider Buying and Selling

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 sale, the director now owns 14,557 shares in the company, valued at approximately $1,521,643.21. The trade was a 8.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dominic Ng sold 19,819 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $90.00, for a total transaction of $1,783,710.00. Following the completion of the transaction, the chief executive officer now owns 968,314 shares of the company’s stock, valued at approximately $87,148,260. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,181 shares of company stock worth $5,625,732. Corporate insiders own 1.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on EWBC shares. StockNews.com upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th. Piper Sandler dropped 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 report on Monday, January 27th. UBS Group assumed coverage on East West Bancorp in a research note on Tuesday, December 17th. They set a “neutral” rating and a $112.00 price target on the stock. Wells Fargo & Company boosted their price objective on East West Bancorp from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley lowered their target price on East West Bancorp from $127.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $111.31.

East West Bancorp Stock Up 3.6 %

Shares of East West Bancorp stock opened at $93.26 on Tuesday. 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, Inc. has a 52-week low of $68.78 and a 52-week high of $113.95. The company has a market capitalization of $12.91 billion, a P/E ratio of 11.20, a P/E/G ratio of 1.29 and a beta of 1.28. The company has a 50 day moving average of $96.03 and a 200 day moving average of $95.19.

East West Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were given a dividend of $0.60 per share. This is a boost from East West Bancorp’s previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Monday, February 3rd. East West Bancorp’s payout ratio is 28.81%.

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.