Teachers Retirement System of The State of Kentucky Decreases Stock Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Teachers Retirement System of The State of Kentucky cut its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,012 shares of the financial services provider’s stock after selling 2,130 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in East West Bancorp were worth $4,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in East West Bancorp during the 3rd quarter worth $26,000. Venturi Wealth Management LLC boosted 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 worth $40,000 after acquiring an additional 175 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in East West Bancorp by 119.1% in the 4th quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 306 shares during the last quarter. UMB Bank n.a. lifted its stake 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 in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in East West Bancorp in the 4th quarter worth approximately $100,000. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

East West Bancorp Stock Up 3.8 %

Shares of NASDAQ EWBC opened at $79.21 on Wednesday. East West Bancorp, Inc. has a 52-week low of $68.27 and a 52-week high of $113.95. The business’s 50 day moving average is $86.19 and its two-hundred day moving average is $94.83. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 1.29 and a beta of 1.09. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46.

East West Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 17th. Investors of record on Monday, February 3rd were paid a dividend of $0.60 per share. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.40 annualized dividend and a yield of 3.03%. East West Bancorp’s dividend payout ratio is presently 28.81%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EWBC shares. StockNews.com cut East West Bancorp from a “hold” rating to a “sell” rating in a report on Friday, March 28th. Barclays cut their target price on East West Bancorp from $120.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Morgan Stanley cut shares of East West Bancorp from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $118.00 to $90.00 in a research report on Monday, April 7th. Wells Fargo & Company cut their price objective on shares of East West Bancorp from $120.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Finally, Piper Sandler decreased their target price 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, East West Bancorp has an average rating of “Moderate Buy” and a consensus target price of $106.46.

Insider Activity at East West Bancorp

In other 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 sale, the director now directly owns 14,557 shares in the company, valued at approximately $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 accessible through the SEC website. Also, CEO Dominic Ng sold 19,819 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $90.00, for a total value of $1,783,710.00. Following the transaction, the chief executive officer now directly owns 968,314 shares of the company’s stock, valued at $87,148,260. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,181 shares of company stock worth $5,625,732 in the last three months. 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.