East West Bancorp, Inc. (NASDAQ:EWBC) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 13.9% in the 4th quarter, Holdings Channel reports. The fund owned 5,709 shares of the financial services provider’s stock after acquiring an additional 698 shares during the period. CIBC Asset Management Inc’s holdings in East West Bancorp were worth $547,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in East West Bancorp in the third quarter worth about $25,000. Wilmington Savings Fund Society FSB acquired a new position in East West Bancorp in the third quarter worth about $26,000. UMB Bank n.a. grew its stake in East West Bancorp by 83.4% in the fourth 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. Transamerica Financial Advisors Inc. acquired a new position in East West Bancorp in the third quarter worth about $79,000. Finally, Quarry LP grew its stake in East West Bancorp by 822.9% in the third quarter. Quarry LP now owns 1,006 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 897 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 transaction of $133,275.75. Following the sale, the director now owns 14,557 shares of the company’s stock, valued at $1,521,643.21. The trade was a 8.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.04% of the company’s stock.

Analyst Ratings Changes

EWBC has been the subject of a number of research reports. Barclays decreased their price target on East West Bancorp from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. StockNews.com cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. DA Davidson cut their target price on shares of East West Bancorp from $120.00 to $118.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Piper Sandler cut 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. Finally, UBS Group initiated coverage on shares of East West Bancorp in a report on Tuesday, December 17th. They issued a “neutral” rating and a $112.00 target price on the stock. 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $110.38.

East West Bancorp Stock Performance

EWBC opened at $93.89 on Friday. The business’s 50 day moving average is $98.68 and its 200-day moving average is $93.77. The stock has a market cap of $13.02 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.29 and a beta of 1.30. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp, Inc. has a twelve month low of $68.78 and a twelve month high of $113.95.

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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date was Monday, February 3rd. This is a boost from East West Bancorp’s previous quarterly dividend of $0.55. East West Bancorp’s payout ratio is 28.81%.

East West Bancorp Company 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.