East West Bancorp, Inc. (NASDAQ:EWBC) Stake Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 46.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,321 shares of the financial services provider’s stock after buying an additional 36,554 shares during the period. Allspring Global Investments Holdings LLC owned 0.08% of East West Bancorp worth $10,894,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of EWBC. Capital Performance Advisors LLP bought a new position in shares of East West Bancorp during the third quarter worth about $25,000. Wilmington Savings Fund Society FSB bought a new position in East West Bancorp in the 3rd quarter worth about $26,000. UMB Bank n.a. grew its position in East West Bancorp by 83.4% in the 4th quarter. UMB Bank n.a. now owns 662 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 301 shares during the last quarter. Transamerica Financial Advisors Inc. bought a new position in East West Bancorp in the 3rd quarter worth about $79,000. Finally, Quarry LP grew its position in East West Bancorp by 822.9% in the 3rd quarter. Quarry LP now owns 1,006 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 897 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

Insider Transactions at East West Bancorp

In related news, Director Jack C. Liu sold 1,275 shares of the stock in a transaction 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 completion of the transaction, the director now owns 14,557 shares in the company, valued at $1,521,643.21. This trade represents a 8.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.04% of the company’s stock.

Analyst Upgrades and Downgrades

EWBC has been the subject of a number of recent analyst reports. UBS Group initiated coverage on East West Bancorp in a report on Tuesday, December 17th. They issued a “neutral” rating and a $112.00 price objective for the company. Piper Sandler decreased their price target 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. Wedbush increased their price target on East West Bancorp from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. DA Davidson decreased their target price on shares of 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, Stephens lowered shares of East West Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.38.

East West Bancorp Stock Performance

NASDAQ:EWBC opened at $98.57 on Tuesday. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 1.36 and a beta of 1.30. East West Bancorp, Inc. has a twelve month low of $68.78 and a twelve month high of $113.95. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $99.26 and a 200-day moving average of $93.23.

East West Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.60 per share. The ex-dividend date 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 dividend yield of 2.43%. East West Bancorp’s dividend payout ratio (DPR) is currently 28.81%.

About East West Bancorp

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.