DnB Asset Management AS Has $13.38 Million Position in East West Bancorp, Inc. (NASDAQ:EWBC)

DnB Asset Management AS grew its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 25.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 139,682 shares of the financial services provider’s stock after purchasing an additional 28,201 shares during the period. DnB Asset Management AS’s holdings in East West Bancorp were worth $13,376,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new position in East West Bancorp during the 4th quarter valued at about $166,590,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of East West Bancorp by 1,667.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 670,156 shares of the financial services provider’s stock valued at $64,174,000 after acquiring an additional 632,245 shares during the last quarter. Boston Partners raised its stake in shares of East West Bancorp by 23.1% in the fourth quarter. Boston Partners now owns 2,383,284 shares of the financial services provider’s stock valued at $228,269,000 after acquiring an additional 447,057 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of East West Bancorp in the 4th quarter worth approximately $32,138,000. Finally, Victory Capital Management Inc. grew its position in East West Bancorp by 171.3% during the 4th quarter. Victory Capital Management Inc. now owns 384,780 shares of the financial services provider’s stock worth $36,847,000 after acquiring an additional 242,928 shares during the last quarter. Institutional investors own 89.53% of the company’s stock.

East West Bancorp Stock Performance

EWBC stock opened at $89.07 on Friday. East West Bancorp, Inc. has a twelve month low of $68.78 and a twelve month high of $113.95. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46. The company has a market cap of $12.33 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 1.29 and a beta of 1.28. The business’s fifty day moving average is $95.35 and its 200-day moving average is $95.42.

East West Bancorp Increases Dividend

The business also recently announced 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 a positive change 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 yield of 2.69%. East West Bancorp’s dividend payout ratio is presently 28.81%.

Insiders Place Their Bets

In other news, CEO Dominic Ng sold 19,819 shares of East West Bancorp 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 transaction, the chief executive officer now directly owns 968,314 shares of the company’s stock, valued at $87,148,260. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jack C. Liu sold 1,275 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $104.53, for a total transaction of $133,275.75. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,181 shares of company stock worth $5,625,732. Insiders own 1.04% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Stephens lowered East West Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Barclays reduced their price target on shares of 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. Wells Fargo & Company raised their price objective on shares of East West Bancorp from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Piper Sandler reduced 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 research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods raised their price target 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.