Alaska Permanent Fund Corp Sells 1,361 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Alaska Permanent Fund Corp cut its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,839 shares of the financial services provider’s stock after selling 1,361 shares during the period. Alaska Permanent Fund Corp’s holdings in East West Bancorp were worth $3,082,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its position in shares of East West Bancorp by 65.1% during the third quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 211 shares in the last quarter. Denali Advisors LLC lifted its position in shares of East West Bancorp by 66.7% during the fourth quarter. Denali Advisors LLC now owns 500 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 200 shares in the last quarter. Planned Solutions Inc. acquired a new position in shares of East West Bancorp during the fourth quarter worth approximately $40,000. Global Retirement Partners LLC lifted its position in shares of East West Bancorp by 1,050.0% during the fourth quarter. Global Retirement Partners LLC now owns 667 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 609 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of East West Bancorp during the fourth quarter worth approximately $78,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Trading Up 2.5 %

NASDAQ:EWBC traded up $1.90 during trading hours on Wednesday, hitting $77.20. The stock had a trading volume of 1,730,183 shares, compared to its average volume of 1,221,298. The business’s 50 day moving average is $74.58 and its 200-day moving average is $68.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 0.91. East West Bancorp, Inc. has a one year low of $41.12 and a one year high of $79.54. The company has a market cap of $10.74 billion, a price-to-earnings ratio of 9.38, a P/E/G ratio of 0.95 and a beta of 1.39.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.08. East West Bancorp had a net margin of 29.11% and a return on equity of 18.47%. The company had revenue of $644.13 million during the quarter, compared to the consensus estimate of $636.77 million. During the same quarter in the prior year, the firm earned $2.32 earnings per share. The firm’s revenue was down 2.4% compared to the same quarter last year. Sell-side analysts anticipate that East West Bancorp, Inc. will post 7.87 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.85%. East West Bancorp’s dividend payout ratio is 26.89%.

Analysts Set New Price Targets

EWBC has been the topic of a number of research reports. Barclays initiated coverage on shares of East West Bancorp in a research report on Friday, March 8th. They set an “overweight” rating and a $106.00 target price on the stock. Wedbush restated an “outperform” rating and issued a $90.00 price objective on shares of East West Bancorp in a report on Wednesday. Morgan Stanley increased their price objective on shares of East West Bancorp from $76.00 to $89.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Jefferies Financial Group increased their price objective on shares of East West Bancorp from $86.00 to $88.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Compass Point increased their price objective on shares of East West Bancorp from $83.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.38.

Insider Activity at East West Bancorp

In related news, Director Molly Campbell sold 1,625 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the transaction, the director now owns 10,321 shares of the company’s stock, valued at $797,400.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other East West Bancorp news, Director Molly Campbell sold 1,625 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the sale, the director now owns 10,321 shares in the company, valued at $797,400.46. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 2,000 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.58, for a total transaction of $147,160.00. Following the completion of the sale, the director now owns 16,739 shares of the company’s stock, valued at approximately $1,231,655.62. The disclosure for this sale can be found here. 0.91% of the stock is owned by insiders.

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.