Jupiter Asset Management Ltd. Has $66.01 Million Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Jupiter Asset Management Ltd. lessened its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 15.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 689,338 shares of the financial services provider’s stock after selling 122,622 shares during the quarter. Jupiter Asset Management Ltd. owned 0.50% of East West Bancorp worth $66,011,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. US Bancorp DE boosted its holdings in shares of East West Bancorp by 7.8% during the 3rd quarter. US Bancorp DE now owns 1,949 shares of the financial services provider’s stock valued at $161,000 after acquiring an additional 141 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of East West Bancorp by 159.1% during the third quarter. Janney Montgomery Scott LLC now owns 29,587 shares of the financial services provider’s stock valued at $2,448,000 after purchasing an additional 18,166 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in East West Bancorp during the 3rd quarter worth approximately $25,000. Verdence Capital Advisors LLC boosted its position in East West Bancorp by 5.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 4,884 shares of the financial services provider’s stock worth $404,000 after buying an additional 243 shares during the period. Finally, Covestor Ltd boosted its position in East West Bancorp by 7.4% during the 3rd quarter. Covestor Ltd now owns 1,537 shares of the financial services provider’s stock worth $128,000 after buying an additional 106 shares during the period. 89.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EWBC has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of East West Bancorp from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. StockNews.com raised East West Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday. Piper Sandler lowered 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. Stephens cut shares of East West Bancorp from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. Finally, DA Davidson decreased their price target on shares of East West Bancorp from $120.00 to $118.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $110.38.

East West Bancorp Stock Performance

Shares of EWBC stock opened at $84.35 on Wednesday. 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, Inc. has a fifty-two week low of $68.78 and a fifty-two week high of $113.95. The stock has a 50 day moving average price of $97.21 and a two-hundred day moving average price of $94.81. The company has a market capitalization of $11.68 billion, a P/E ratio of 10.13, a PEG ratio of 1.29 and a beta of 1.28.

East West Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.85%. This is an increase from East West Bancorp’s previous quarterly dividend of $0.55. The ex-dividend date was Monday, February 3rd. East West Bancorp’s dividend payout ratio is 28.81%.

Insider Buying and Selling at East West Bancorp

In other news, Director Jack C. Liu sold 1,275 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,521,643.21. The trade was a 8.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Dominic Ng sold 20,181 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $88,941,851.33. This represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,362 shares of company stock valued at $3,842,022 in the last 90 days. Insiders own 1.04% of the company’s stock.

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.