Johnson Investment Counsel Inc. Decreases Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Johnson Investment Counsel Inc. decreased its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 23.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,290 shares of the financial services provider's stock after selling 7,270 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in East West Bancorp were worth $2,180,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of East West Bancorp during the 4th quarter valued at about $26,000. Venturi Wealth Management LLC grew its position in East West Bancorp by 73.2% in the fourth 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. Versant Capital Management Inc increased its stake in East West Bancorp by 89.7% during the first quarter. Versant Capital Management Inc now owns 518 shares of the financial services provider's stock worth $46,000 after acquiring an additional 245 shares during the last quarter. Grove Bank & Trust raised its position in East West Bancorp by 448.9% during the first quarter. Grove Bank & Trust now owns 516 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 422 shares during the period. Finally, Farther Finance Advisors LLC raised its position in East West Bancorp by 119.1% during the fourth 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. Institutional investors own 89.53% of the company's stock.

East West Bancorp Trading Up 1.5%

Shares of East West Bancorp stock traded up $1.45 on Tuesday, hitting $98.96. 993,668 shares of the company traded hands, compared to its average volume of 929,020. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.45. The company has a market cap of $13.64 billion, a PE ratio of 11.81, a PEG ratio of 1.29 and a beta of 0.92. The stock's 50 day moving average price is $89.68 and its 200-day moving average price is $92.28. East West Bancorp, Inc. has a 52 week low of $68.27 and a 52 week high of $113.95.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. East West Bancorp had a return on equity of 15.23% and a net margin of 25.73%. The business had revenue of $693.00 million during the quarter, compared to analyst estimates of $673.02 million. Equities research analysts predict that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend was Friday, May 2nd. East West Bancorp's dividend payout ratio (DPR) is presently 28.64%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Morgan Stanley cut East West Bancorp from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $118.00 to $90.00 in a report on Monday, April 7th. Barclays lifted their price objective on shares of East West Bancorp from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Jefferies Financial Group assumed coverage on shares of East West Bancorp in a research report on Wednesday, May 21st. They set a "buy" rating and a $115.00 price objective on the stock. DA Davidson lowered their target price on shares of East West Bancorp from $118.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company cut their price target on shares of East West Bancorp from $120.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, East West Bancorp presently has an average rating of "Moderate Buy" and an average target price of $107.85.

Insiders Place Their Bets

In other East West Bancorp news, CEO Dominic Ng sold 40,000 shares of East West Bancorp stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.43, for a total value of $3,857,200.00. Following the transaction, the chief executive officer now owns 928,314 shares in the company, valued at $89,517,319.02. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa L. Kim sold 2,100 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $95.04, for a total transaction of $199,584.00. Following the sale, the executive vice president now directly owns 14,849 shares of the company's stock, valued at approximately $1,411,248.96. The trade was a 12.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is owned by company 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.