East West Bancorp, Inc. (NASDAQ:EWBC) Stock Position Lifted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 922.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,633 shares of the financial services provider's stock after buying an additional 40,267 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in East West Bancorp were worth $4,274,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in 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 purchasing an additional 632,245 shares during the last quarter. FORA Capital LLC purchased a new stake in shares of East West Bancorp in the 4th quarter worth about $1,072,000. Mirae Asset Global Investments Co. Ltd. grew its stake in East West Bancorp by 18.2% in 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 acquiring an additional 15,475 shares during the last quarter. Fisher Asset Management LLC increased its holdings in East West Bancorp by 10.0% during the 4th 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 in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in East West Bancorp during the fourth quarter worth about $100,000. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EWBC. Jefferies Financial Group started coverage on shares of East West Bancorp in a research note on Wednesday, May 21st. They issued a "buy" rating and a $115.00 target price for the company. Wall Street Zen downgraded shares of East West Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Wells Fargo & Company decreased their target price on shares of East West Bancorp from $120.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Barclays boosted their target price on shares of East West Bancorp from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Finally, DA Davidson cut their price target on shares of East West Bancorp from $118.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. One research 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $107.85.

Insider Buying and Selling

In related news, CEO Dominic Ng sold 20,181 shares of East West Bancorp stock in a transaction on Friday, March 7th. The shares were sold at an average price of $90.01, for a total value of $1,816,491.81. Following the completion of the sale, the chief executive officer now owns 988,133 shares in the company, valued at approximately $88,941,851.33. The trade was a 2.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa L. Kim sold 2,100 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $95.04, for a total transaction of $199,584.00. Following the completion of the sale, the executive vice president now directly owns 14,849 shares in the company, valued at $1,411,248.96. This represents a 12.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,281 shares of company stock worth $9,473,478. 1.04% of the stock is currently owned by corporate insiders.

East West Bancorp Stock Up 0.6%

East West Bancorp stock traded up $0.56 during midday trading on Thursday, hitting $91.53. 526,155 shares of the company were exchanged, compared to its average volume of 920,358. The company has a market cap of $12.62 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90. East West Bancorp, Inc. has a fifty-two week low of $68.27 and a fifty-two week high of $113.95. The company's fifty day moving average price is $85.44 and its 200-day moving average price is $93.73. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.91 and a quick ratio of 0.92.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $2.09 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The firm had revenue of $693.00 million for the quarter, compared to analyst estimates of $673.02 million. East West Bancorp had a net margin of 25.73% and a return on equity of 15.71%. On average, research analysts predict that East West Bancorp, Inc. will post 8.85 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Friday, May 2nd. East West Bancorp's dividend payout ratio (DPR) is 28.64%.

East West Bancorp Company 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.