Retirement Systems of Alabama trimmed its stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 363,956 shares of the financial services provider's stock after selling 17,799 shares during the period. Retirement Systems of Alabama owned 0.26% of East West Bancorp worth $34,852,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in EWBC. Creative Planning raised its position in shares of East West Bancorp by 8.9% in the 2nd quarter. Creative Planning now owns 15,102 shares of the financial services provider's stock worth $1,106,000 after acquiring an additional 1,236 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in East West Bancorp by 3.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,307 shares of the financial services provider's stock valued at $315,000 after buying an additional 160 shares in the last quarter. Truist Financial Corp increased its position in East West Bancorp by 6.1% during the 2nd quarter. Truist Financial Corp now owns 25,118 shares of the financial services provider's stock valued at $1,839,000 after buying an additional 1,435 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in East West Bancorp during the 2nd quarter valued at about $2,097,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in East West Bancorp during the 2nd quarter valued at about $231,000. 89.53% of the stock is owned by institutional investors.
NASDAQ:EWBC opened at $101.36 on Thursday. The firm has a market capitalization of $14.05 billion, a P/E ratio of 12.17, a PEG ratio of 1.37 and a beta of 1.30. East West Bancorp, Inc. has a 1-year low of $67.27 and a 1-year high of $113.95. The company's fifty day moving average price is $100.64 and its 200-day moving average price is $92.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.91 and a quick ratio of 0.92.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, February 3rd. This is an increase from East West Bancorp's previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a yield of 2.37%. East West Bancorp's dividend payout ratio is 26.41%.
EWBC has been the topic of several recent analyst reports. DA Davidson reduced their target price on East West Bancorp from $120.00 to $118.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Piper Sandler reduced their target price on East West Bancorp from $100.00 to $97.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Wedbush upped their target price on East West Bancorp from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Truist Financial upped their target price on East West Bancorp from $93.00 to $101.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, Barclays reduced their target price on East West Bancorp from $125.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, East West Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $110.38.
Read Our Latest Research Report on EWBC
In other East West Bancorp news, Director Jack C. Liu sold 1,275 shares of the stock in a transaction 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 transaction, the director now directly owns 14,557 shares of the company's stock, valued at $1,521,643.21. This trade represents a 8.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the transaction, the insider now directly owns 45,403 shares in the company, valued at approximately $4,840,413.83. The trade was a 20.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,000 shares of company stock valued at $1,488,358. Corporate insiders own 1.04% of the company's stock.
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.
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