California Public Employees Retirement System Sells 11,146 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

California Public Employees Retirement System trimmed its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 255,024 shares of the financial services provider’s stock after selling 11,146 shares during the quarter. California Public Employees Retirement System’s holdings in East West Bancorp were worth $24,421,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in East West Bancorp in the 3rd quarter worth approximately $26,000. Venturi Wealth Management LLC increased its position in East West Bancorp by 73.2% in the fourth quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 175 shares during the last quarter. Farther Finance Advisors LLC raised its stake 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 valued at $54,000 after purchasing an additional 306 shares in the last quarter. UMB Bank n.a. raised its stake in East West Bancorp by 83.4% during the fourth quarter. UMB Bank n.a. now owns 662 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 301 shares in the last quarter. Finally, Quarry LP lifted its position in East West Bancorp by 822.9% during the third quarter. Quarry LP now owns 1,006 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 897 shares during the last quarter. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

East West Bancorp Trading Down 14.1 %

EWBC stock opened at $77.92 on Friday. The company has a market capitalization of $10.79 billion, a PE ratio of 9.35, a P/E/G ratio of 1.29 and a beta of 1.28. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.91 and a quick ratio of 0.92. East West Bancorp, Inc. has a 12 month low of $68.78 and a 12 month high of $113.95. The firm’s 50-day moving average is $94.07 and its 200 day moving average is $95.53.

East West Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were issued a $0.60 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.40 annualized dividend and a dividend yield of 3.08%. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.55. East West Bancorp’s payout ratio is currently 28.81%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Compass Point boosted their target price on shares of East West Bancorp from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. UBS Group assumed coverage on East West Bancorp in a research report on Tuesday, December 17th. They set a “neutral” rating and a $112.00 price objective on the stock. DA Davidson dropped their target price 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. StockNews.com lowered East West Bancorp from a “hold” rating to a “sell” rating in a report on Friday, March 28th. Finally, Piper Sandler dropped their price objective on shares of 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $111.31.

Insider Activity

In other news, Director Jack C. Liu sold 1,275 shares of the business’s 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 directly owns 14,557 shares of the company’s stock, valued at approximately $1,521,643.21. The trade was a 8.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dominic Ng sold 20,181 shares of the company’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 sale, the chief executive officer now owns 988,133 shares of the company’s stock, valued at $88,941,851.33. This trade represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,181 shares of company stock worth $5,625,732. 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.