28,100 Shares in East West Bancorp, Inc. (NASDAQ:EWBC) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) during the 4th quarter, Holdings Channel.com reports. The firm acquired 28,100 shares of the financial services provider’s stock, valued at approximately $2,691,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of East West Bancorp during the third quarter valued at $26,000. Venturi Wealth Management LLC grew its holdings in East West Bancorp by 73.2% during the 4th quarter. Venturi Wealth Management LLC now owns 414 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 175 shares in the last quarter. Farther Finance Advisors LLC increased its position in East West Bancorp by 119.1% during the 4th quarter. Farther Finance Advisors LLC now owns 563 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 306 shares during the period. 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 valued at $63,000 after purchasing an additional 301 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. purchased a new stake in shares of East West Bancorp in the 3rd quarter worth approximately $79,000. 89.53% of the stock is owned by institutional investors.

East West Bancorp Price Performance

Shares of EWBC opened at $92.24 on Thursday. 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 fifty day moving average price is $95.75 and its 200-day moving average price is $95.27. East West Bancorp, Inc. has a 1-year low of $68.78 and a 1-year high of $113.95. The firm has a market capitalization of $12.77 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 1.29 and a beta of 1.28.

East West Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.60%. This is a boost from East West Bancorp’s previous quarterly dividend of $0.55. The ex-dividend date was Monday, February 3rd. East West Bancorp’s dividend payout ratio (DPR) is presently 28.81%.

Insider Buying and Selling at East West Bancorp

In related news, CEO Dominic Ng sold 19,819 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $90.00, for a total transaction of $1,783,710.00. Following the sale, the chief executive officer now directly owns 968,314 shares of the company’s stock, valued at approximately $87,148,260. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jack C. Liu sold 725 shares of East West Bancorp stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $104.50, for a total transaction of $75,762.50. Following the completion of the transaction, the director now directly owns 15,832 shares of the company’s stock, valued at $1,654,444. The trade was a 4.38 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,181 shares of company stock worth $5,625,732. Company insiders own 1.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Stephens lowered shares of East West Bancorp from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. Barclays cut their price target on East West Bancorp from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. DA Davidson decreased their price objective on East West Bancorp from $120.00 to $118.00 and set a “buy” rating for the company in a research note on Friday, January 24th. 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 report on Wednesday, December 4th. Finally, StockNews.com upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, March 20th. Four research analysts have rated the stock with 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 target price of $111.31.

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.