Choreo LLC Trims Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Choreo LLC cut its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 31.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,279 shares of the financial services provider’s stock after selling 1,067 shares during the quarter. Choreo LLC’s holdings in East West Bancorp were worth $219,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EWBC. Piper Sandler cut 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. DA Davidson decreased their price objective on East West Bancorp from $120.00 to $118.00 and set a “buy” rating for the company in a report on Friday, January 24th. Wedbush upped their price objective on shares of East West Bancorp from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, February 11th. Finally, Citigroup boosted their price target on East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $110.38.

East West Bancorp Stock Up 0.9 %

Shares of NASDAQ:EWBC opened at $98.57 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $99.26 and a two-hundred day moving average of $93.20. The stock has a market cap of $13.66 billion, a P/E ratio of 11.83, a PEG ratio of 1.36 and a beta of 1.30. East West Bancorp, Inc. has a 52-week low of $68.78 and a 52-week high of $113.95.

East West Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be issued a $0.60 dividend. This is a boost from East West Bancorp’s previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Monday, February 3rd. East West Bancorp’s dividend payout ratio is presently 28.81%.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, Director Jack C. Liu sold 725 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $104.50, for a total value of $75,762.50. Following the completion of the sale, the director now directly owns 15,832 shares in the company, valued at $1,654,444. This represents a 4.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.04% of the stock is owned by company 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.