East West Bancorp, Inc. (NASDAQ:EWBC) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC) by 10.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,100 shares of the financial services provider’s stock after acquiring an additional 3,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in East West Bancorp were worth $3,265,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Creative Planning raised its stake in shares of East West Bancorp by 6.6% in the 3rd quarter. Creative Planning now owns 16,094 shares of the financial services provider’s stock valued at $1,332,000 after purchasing an additional 992 shares in the last quarter. Private Advisor Group LLC increased its holdings in East West Bancorp by 11.3% in the third quarter. Private Advisor Group LLC now owns 4,564 shares of the financial services provider’s stock valued at $378,000 after buying an additional 462 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in East West Bancorp during the third quarter valued at approximately $3,142,000. Mirae Asset Global Investments Co. Ltd. raised its stake in East West Bancorp by 10.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 84,845 shares of the financial services provider’s stock valued at $6,917,000 after buying an additional 8,134 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in East West Bancorp by 21.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,366 shares of the financial services provider’s stock worth $361,000 after buying an additional 760 shares during the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EWBC has been the subject of a number of research analyst reports. StockNews.com downgraded East West Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, February 19th. Barclays lowered their target price on shares of 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. Wells Fargo & Company raised their price target on shares of East West Bancorp from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. 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 report on Friday, January 24th. Finally, UBS Group initiated coverage on shares of East West Bancorp in a research note on Tuesday, December 17th. They set a “neutral” rating and a $112.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.38.

East West Bancorp Stock Down 3.3 %

NASDAQ EWBC opened at $93.89 on Monday. The company has a market capitalization of $13.02 billion, a P/E ratio of 11.27, a PEG ratio of 1.29 and a beta of 1.30. East West Bancorp, Inc. has a 12 month low of $68.78 and a 12 month high of $113.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.91 and a quick ratio of 0.92. The company’s 50 day simple moving average is $98.68 and its 200 day simple moving average is $93.89.

East West Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were given 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 an increase from East West Bancorp’s previous quarterly dividend of $0.55. East West Bancorp’s dividend payout ratio is 28.81%.

Insider Transactions at East West Bancorp

In other East West Bancorp news, Director Jack C. Liu sold 1,275 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,521,643.21. The trade was a 8.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.04% of the company’s stock.

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.