East West Bancorp, Inc. (NASDAQ:EWBC) Position Increased by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI grew its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 129.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 70,975 shares of the financial services provider’s stock after purchasing an additional 40,000 shares during the period. Parsons Capital Management Inc. RI’s holdings in East West Bancorp were worth $6,797,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of EWBC. Capital Performance Advisors LLP acquired a new position in East West Bancorp in the 3rd quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB acquired a new stake in East West Bancorp during the third quarter valued at $26,000. UMB Bank n.a. raised its stake in shares of East West Bancorp by 362.8% during the 3rd quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 283 shares in the last quarter. Tobam lifted its holdings in shares of East West Bancorp by 131.7% during the 3rd quarter. Tobam now owns 482 shares of the financial services provider’s stock valued at $40,000 after buying an additional 274 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. acquired a new position in East West Bancorp in the third quarter worth approximately $79,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Trading Down 0.6 %

Shares of East West Bancorp stock opened at $102.93 on Monday. East West Bancorp, Inc. has a 52-week low of $67.27 and a 52-week high of $113.95. The firm has a market capitalization of $14.27 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 2.85 and a beta of 1.30. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.92 and a quick ratio of 0.92. The company’s fifty day moving average price is $101.30 and its two-hundred day moving average price is $91.31.

East West Bancorp Announces Dividend

The firm also recently declared a dividend, which will be paid on Monday, February 17th. Shareholders of record on Tuesday, February 4th will be paid a dividend of $0.60 per share. This represents a yield of 2.33%. The ex-dividend date of this dividend is Monday, February 3rd. East West Bancorp’s dividend payout ratio is 27.78%.

Analyst Ratings Changes

Several analysts have commented on EWBC shares. Morgan Stanley boosted their target price on shares of East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Truist Financial upped their price target on East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods upped 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. Wedbush boosted 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. Finally, Wells Fargo & Company lifted their target price on shares of East West Bancorp from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.23.

Insider Buying and Selling at East West Bancorp

In other news, insider Irene H. Oh sold 10,000 shares of East West Bancorp stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $98.50, for a total value of $985,000.00. Following the completion of the transaction, the insider now owns 117,193 shares in the company, valued at approximately $11,543,510.50. The trade was a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $106.61, for a total value of $1,279,320.00. Following the sale, the insider now owns 45,403 shares in the company, valued at approximately $4,840,413.83. This trade represents a 20.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,969 shares of company stock valued at $2,458,276. 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.