First Citizens Bank & Trust Co. Has $354,000 Stock Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

First Citizens Bank & Trust Co. boosted its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 16.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,694 shares of the financial services provider’s stock after acquiring an additional 516 shares during the period. First Citizens Bank & Trust Co.’s holdings in East West Bancorp were worth $354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in East West Bancorp during the 3rd quarter valued at about $25,000. Wilmington Savings Fund Society FSB acquired a new position in East West Bancorp in the third quarter valued at approximately $26,000. UMB Bank n.a. boosted its stake in East West Bancorp by 362.8% in the third quarter. UMB Bank n.a. now owns 361 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 283 shares during the last quarter. Tobam grew its holdings in East West Bancorp by 131.7% during the 3rd quarter. Tobam now owns 482 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 274 shares during the period. Finally, Transamerica Financial Advisors Inc. acquired a new stake in East West Bancorp during the 3rd quarter worth $79,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EWBC has been the topic of several recent research reports. DA Davidson reduced their price target on East West Bancorp from $120.00 to $118.00 and set a “buy” rating on the stock in a research report on Friday. Piper Sandler decreased their target price on East West Bancorp from $100.00 to $97.00 and set a “neutral” rating for the company in a research report on Monday. Compass Point increased their price target on shares of East West Bancorp from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods boosted their price objective on shares of East West Bancorp from $96.00 to $128.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Barclays cut their target price on shares of East West Bancorp from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.38.

East West Bancorp Stock Up 1.0 %

Shares of East West Bancorp stock opened at $103.91 on Tuesday. The firm has a market cap of $14.41 billion, a PE ratio of 13.12, a P/E/G ratio of 2.85 and a beta of 1.30. The business’s 50 day simple moving average is $101.30 and its 200 day simple moving average is $91.31. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92. East West Bancorp, Inc. has a 52-week low of $67.27 and a 52-week high of $113.95.

East West Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This is an increase from East West Bancorp’s previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.31%. East West Bancorp’s dividend payout ratio (DPR) is 27.78%.

Insider Transactions at East West Bancorp

In related news, Director Rudolph Estrada sold 469 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $98.04, for a total transaction of $45,980.76. Following the sale, the director now owns 17,750 shares in the company, valued at approximately $1,740,210. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 45,403 shares of the company’s stock, valued at approximately $4,840,413.83. This represents a 20.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by insiders.

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.