Lindenwold Advisors INC Reduces Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

Lindenwold Advisors INC trimmed its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,002 shares of the financial services provider’s stock after selling 268 shares during the period. Lindenwold Advisors INC’s holdings in East West Bancorp were worth $671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in East West Bancorp by 1,667.7% during the 4th 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 period. Boston Partners lifted its position in East West Bancorp by 23.1% during the 4th 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 period. Raymond James Financial Inc. purchased a new position in East West Bancorp during the 4th quarter valued at about $32,138,000. Victory Capital Management Inc. increased its stake 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 valued at $36,847,000 after purchasing an additional 242,928 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in East West Bancorp by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,418,840 shares of the financial services provider’s stock valued at $423,148,000 after purchasing an additional 186,887 shares in the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

East West Bancorp Stock Performance

EWBC opened at $88.19 on Wednesday. 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 firm has a market capitalization of $12.21 billion, a PE ratio of 10.59, a P/E/G ratio of 1.29 and a beta of 1.28. The firm has a 50 day moving average of $96.35 and a two-hundred day moving average of $94.95.

East West Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 17th. Investors of record on Monday, February 3rd were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.55. East West Bancorp’s payout ratio is presently 28.81%.

Analysts Set New Price Targets

A number of analysts have weighed in on EWBC shares. DA Davidson reduced their price objective on shares of 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. Morgan Stanley reduced their price target on shares of East West Bancorp from $127.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Keefe, Bruyette & Woods lifted their price target on shares of East West Bancorp from $96.00 to $128.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler reduced their price target on shares of East West Bancorp from $100.00 to $97.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Finally, Barclays reduced their price target 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. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $111.31.

Insiders Place Their Bets

In other East West Bancorp news, CEO Dominic Ng sold 20,181 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $90.01, for a total transaction of $1,816,491.81. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack C. Liu sold 725 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $104.50, for a total transaction of $75,762.50. Following the sale, the director now owns 15,832 shares in the company, valued at $1,654,444. This trade represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,362 shares of company stock valued at $3,842,022 in the last 90 days. 1.04% of the stock is owned by insiders.

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.