Envestnet Portfolio Solutions Inc. Acquires 630 Shares of East West Bancorp, Inc. (NASDAQ:EWBC)

Envestnet Portfolio Solutions Inc. increased its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 10.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,486 shares of the financial services provider’s stock after acquiring an additional 630 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in East West Bancorp were worth $621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of EWBC. Crossmark Global Holdings Inc. increased its position in East West Bancorp by 3.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 10,171 shares of the financial services provider’s stock valued at $974,000 after buying an additional 336 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of East West Bancorp by 108.5% in the fourth quarter. Nordea Investment Management AB now owns 54,851 shares of the financial services provider’s stock worth $5,282,000 after purchasing an additional 28,549 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew 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 worth $64,174,000 after acquiring an additional 632,245 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in East West Bancorp by 18.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 100,320 shares of the financial services provider’s stock valued at $9,699,000 after buying an additional 15,475 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in East West Bancorp by 10.0% in the fourth quarter. Fisher Asset Management LLC now owns 755,555 shares of the financial services provider’s stock valued at $72,352,000 after acquiring an additional 68,528 shares during the period. 89.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EWBC has been the topic of a number of recent research reports. Compass Point raised their target price on East West Bancorp from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. DA Davidson lowered their price target on East West Bancorp from $120.00 to $118.00 and set a “buy” rating on the stock in a report on Friday, January 24th. UBS Group started coverage on East West Bancorp in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $112.00 price target for the company. Barclays reduced their price objective 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. Finally, Keefe, Bruyette & Woods upped their target price on shares of East West Bancorp from $96.00 to $128.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $111.31.

Insider Activity at East West Bancorp

In other East West Bancorp news, 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 transaction, the director now owns 14,557 shares in the company, valued at $1,521,643.21. The trade was a 8.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dominic Ng sold 20,181 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $90.01, for a total transaction of $1,816,491.81. Following the completion of the sale, the chief executive officer now owns 988,133 shares of the company’s stock, valued at $88,941,851.33. This trade represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,181 shares of company stock worth $5,625,732. Company insiders own 1.04% of the company’s stock.

East West Bancorp Trading Up 3.6 %

EWBC opened at $93.26 on Tuesday. The stock has a 50-day moving average of $96.03 and a 200 day moving average of $95.19. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. East West Bancorp, Inc. has a 12 month low of $68.78 and a 12 month high of $113.95. The firm has a market cap of $12.91 billion, a P/E ratio of 11.20, a P/E/G ratio of 1.29 and a beta of 1.28.

East West Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.40 annualized dividend and a dividend yield of 2.57%. This is an increase from East West Bancorp’s previous quarterly dividend of $0.55. East West Bancorp’s payout ratio is currently 28.81%.

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.