WCM Investment Management LLC Cuts Stock Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

WCM Investment Management LLC trimmed its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 14.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,821 shares of the financial services provider’s stock after selling 7,422 shares during the quarter. WCM Investment Management LLC’s holdings in East West Bancorp were worth $4,123,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of EWBC. Westfield Capital Management Co. LP grew its position in shares of East West Bancorp by 39.9% during the third quarter. Westfield Capital Management Co. LP now owns 520,656 shares of the financial services provider’s stock worth $43,079,000 after buying an additional 148,530 shares in the last quarter. FMR LLC lifted its stake in East West Bancorp by 1.8% in the third quarter. FMR LLC now owns 7,882,803 shares of the financial services provider’s stock worth $652,223,000 after acquiring an additional 136,528 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in East West Bancorp during the 4th quarter worth approximately $12,734,000. Jennison Associates LLC increased its position in shares of East West Bancorp by 7.3% in the 3rd quarter. Jennison Associates LLC now owns 1,804,288 shares of the financial services provider’s stock valued at $149,287,000 after purchasing an additional 123,376 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of East West Bancorp by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,608,132 shares of the financial services provider’s stock valued at $216,438,000 after purchasing an additional 122,738 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $100.23 on Monday. East West Bancorp, Inc. has a one year low of $68.21 and a one year high of $113.95. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.36 and a beta of 1.30. The company has a 50-day simple moving average of $100.12 and a 200-day simple moving average of $92.81. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.60 per share. The ex-dividend date is 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 2.39%. East West Bancorp’s dividend payout ratio is currently 28.81%.

Insiders Place Their Bets

In other news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total value of $1,279,320.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 1,275 shares of East West Bancorp stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $104.53, for a total transaction of $133,275.75. Following the completion of the sale, the director now directly owns 14,557 shares in the company, valued at approximately $1,521,643.21. The trade was a 8.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,000 shares of company stock valued at $1,488,358. 1.04% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of East West Bancorp from $96.00 to $128.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. 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 for the company. Wells Fargo & Company raised their target price on East West Bancorp from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. 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 note on Friday, January 24th. Finally, DA Davidson reduced their price objective on shares of East West Bancorp from $120.00 to $118.00 and set a “buy” rating for the company in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, East West Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $110.38.

About East West Bancorp

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.