Envestnet Portfolio Solutions Inc. Boosts Stock Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Envestnet Portfolio Solutions Inc. grew its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 10.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,486 shares of the financial services provider’s stock after purchasing an additional 630 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in East West Bancorp were worth $621,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in East West Bancorp in the 3rd quarter valued at $26,000. Venturi Wealth Management LLC grew its position in East West Bancorp by 73.2% during the fourth quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider’s stock valued at $40,000 after buying an additional 175 shares during the period. Farther Finance Advisors LLC increased its holdings in East West Bancorp by 119.1% during the fourth quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider’s stock worth $54,000 after buying an additional 306 shares during the last quarter. UMB Bank n.a. raised its position in East West Bancorp by 83.4% in the fourth quarter. UMB Bank n.a. now owns 662 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 301 shares during the period. Finally, Transamerica Financial Advisors Inc. purchased a new position in East West Bancorp in the third quarter valued at about $79,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Insider Activity at East West Bancorp

In other news, Director Jack C. Liu sold 725 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $104.50, for a total transaction of $75,762.50. Following the transaction, the director now directly owns 15,832 shares of the company’s stock, valued at approximately $1,654,444. The trade was a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dominic Ng sold 20,181 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $90.01, for a total value of $1,816,491.81. Following the completion of the sale, the chief executive officer now directly owns 988,133 shares of the company’s stock, valued at $88,941,851.33. The trade was a 2.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,181 shares of company stock worth $5,625,732 in the last ninety days. 1.04% of the stock is owned by company insiders.

East West Bancorp Trading Up 3.6 %

Shares of EWBC opened at $93.26 on Tuesday. East West Bancorp, Inc. has a fifty-two week low of $68.78 and a fifty-two week high of $113.95. The firm has a market cap of $12.91 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 1.29 and a beta of 1.28. The firm has a 50 day moving average price of $96.03 and a 200-day moving average price of $95.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.91.

East West Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were paid a $0.60 dividend. The ex-dividend date was Monday, February 3rd. This is an increase from East West Bancorp’s previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a yield of 2.57%. East West Bancorp’s payout ratio is currently 28.81%.

Analyst Ratings Changes

A number of research firms recently commented on EWBC. Piper Sandler lowered their price target on shares of East West Bancorp from $100.00 to $97.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Barclays decreased their target price on shares of East West Bancorp from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Compass Point lifted their price objective on East West Bancorp from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. UBS Group assumed coverage on East West Bancorp in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $112.00 target price on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on East West Bancorp from $96.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. 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, East West Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $111.31.

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.