Victory Capital Management Inc. Has $36.85 Million Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Victory Capital Management Inc. lifted its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 171.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 384,780 shares of the financial services provider’s stock after buying an additional 242,928 shares during the period. Victory Capital Management Inc.’s holdings in East West Bancorp were worth $36,847,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of East West Bancorp in the 3rd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB acquired a new position in shares of East West Bancorp in the 3rd quarter worth approximately $26,000. Venturi Wealth Management LLC raised its holdings in shares of East West Bancorp by 73.2% in the 4th quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider’s stock worth $40,000 after buying an additional 175 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of East West Bancorp by 83.4% in the 4th quarter. UMB Bank n.a. now owns 662 shares of the financial services provider’s stock worth $63,000 after buying an additional 301 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of East West Bancorp in the 3rd quarter worth approximately $79,000. 89.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, Director Jack C. Liu sold 1,275 shares of East West Bancorp stock in a transaction dated 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 owns 14,557 shares of the company’s stock, valued at $1,521,643.21. This trade represents a 8.05 % decrease in their position. The transaction 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 East West Bancorp stock in a transaction dated Friday, March 7th. The shares were 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 $88,941,851.33. This represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,362 shares of company stock valued at $3,842,022 in the last 90 days. 1.04% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods increased their target price on East West Bancorp from $96.00 to $128.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Wells Fargo & Company increased their price target 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. StockNews.com lowered East West Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, February 19th. Piper Sandler decreased their price target on East West Bancorp from $100.00 to $97.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Finally, Barclays decreased their price target on 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. One research analyst has rated the stock with a sell rating, three have issued 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 target price of $110.38.

East West Bancorp Stock Performance

Shares of East West Bancorp stock opened at $89.08 on Monday. The company has a market capitalization of $12.33 billion, a PE ratio of 10.69, a PEG ratio of 1.29 and a beta of 1.28. East West Bancorp, Inc. has a 12 month low of $68.78 and a 12 month high of $113.95. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock’s fifty day simple moving average is $97.68 and its 200 day simple moving average is $94.78.

East West Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were paid a $0.60 dividend. This is an increase from East West Bancorp’s previous quarterly dividend of $0.55. The ex-dividend date was Monday, February 3rd. This represents a $2.40 annualized dividend and a dividend yield of 2.69%. East West Bancorp’s dividend payout ratio (DPR) is currently 28.81%.

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.