East West Bancorp, Inc. (NASDAQ:EWBC) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 13.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,709 shares of the financial services provider’s stock after buying an additional 698 shares during the quarter. CIBC Asset Management Inc’s holdings in East West Bancorp were worth $547,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Louisiana State Employees Retirement System lifted its stake in shares of East West Bancorp by 0.3% during the 4th quarter. Louisiana State Employees Retirement System now owns 38,500 shares of the financial services provider’s stock worth $3,687,000 after purchasing an additional 100 shares during the period. Covestor Ltd lifted its stake in shares of East West Bancorp by 7.4% during the 3rd quarter. Covestor Ltd now owns 1,537 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 106 shares during the period. Lindenwold Advisors INC lifted its stake in shares of East West Bancorp by 1.8% during the 3rd quarter. Lindenwold Advisors INC now owns 7,270 shares of the financial services provider’s stock worth $602,000 after purchasing an additional 129 shares during the period. Blue Trust Inc. lifted its stake in shares of East West Bancorp by 3.8% during the 4th quarter. Blue Trust Inc. now owns 3,583 shares of the financial services provider’s stock worth $343,000 after purchasing an additional 132 shares during the period. Finally, US Bancorp DE lifted its stake in shares of East West Bancorp by 7.8% during the 3rd quarter. US Bancorp DE now owns 1,949 shares of the financial services provider’s stock worth $161,000 after purchasing an additional 141 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Trading Down 3.3 %

NASDAQ:EWBC opened at $93.89 on Friday. The business’s 50-day moving average is $98.68 and its two-hundred day moving average is $93.77. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.91 and a quick ratio of 0.92. East West Bancorp, Inc. has a 12 month low of $68.78 and a 12 month high of $113.95. The firm has a market capitalization of $13.02 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.29 and a beta of 1.30.

East West Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were given a $0.60 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a yield of 2.56%. East West Bancorp’s dividend payout ratio (DPR) is 28.81%.

Analyst Ratings Changes

A number of brokerages have weighed in on EWBC. Piper Sandler reduced their price target on East West Bancorp from $100.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. StockNews.com lowered East West Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday. DA Davidson cut 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. Wells Fargo & Company increased their target price on East West Bancorp from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.38.

Insider Buying and Selling at East West Bancorp

In other news, Director Jack C. Liu sold 1,275 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was 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 directly owns 14,557 shares in the company, valued at $1,521,643.21. This trade represents a 8.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.04% of the stock is currently owned by corporate insiders.

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.