New York State Teachers Retirement System Decreases Stock Holdings in East West Bancorp, Inc. (NASDAQ:EWBC)

New York State Teachers Retirement System lessened its stake in East West Bancorp, Inc. (NASDAQ:EWBC) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,327 shares of the financial services provider’s stock after selling 5,100 shares during the period. New York State Teachers Retirement System’s holdings in East West Bancorp were worth $15,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp increased its position in East West Bancorp by 30.4% during the fourth quarter. Van ECK Associates Corp now owns 104,046 shares of the financial services provider’s stock worth $9,963,000 after buying an additional 24,243 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of East West Bancorp by 46.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 115,321 shares of the financial services provider’s stock worth $10,894,000 after acquiring an additional 36,554 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of East West Bancorp by 0.3% in the 4th quarter. Louisiana State Employees Retirement System now owns 38,500 shares of the financial services provider’s stock valued at $3,687,000 after acquiring an additional 100 shares during the period. Ferguson Wellman Capital Management Inc. raised its position in East West Bancorp by 29.3% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 224,548 shares of the financial services provider’s stock valued at $21,503,000 after purchasing an additional 50,853 shares during the last quarter. Finally, Entropy Technologies LP boosted its stake in East West Bancorp by 416.8% during the 4th quarter. Entropy Technologies LP now owns 24,289 shares of the financial services provider’s stock worth $2,326,000 after purchasing an additional 19,589 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Stock Performance

Shares of EWBC opened at $98.57 on Monday. The company has a 50-day simple moving average of $99.26 and a 200-day simple moving average of $93.23. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $13.66 billion, a PE ratio of 11.83, a P/E/G ratio of 1.36 and a beta of 1.30. East West Bancorp, Inc. has a 52-week low of $68.78 and a 52-week high of $113.95.

East West Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Monday, February 3rd. This is an increase from East West Bancorp’s previous quarterly dividend of $0.55. East West Bancorp’s dividend payout ratio (DPR) is currently 28.81%.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, Director Jack C. Liu sold 1,275 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $104.53, for a total transaction of $133,275.75. Following the completion of the transaction, the director now directly owns 14,557 shares in the company, valued at approximately $1,521,643.21. This trade represents a 8.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.04% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group assumed coverage on shares of East West Bancorp in a research note on Tuesday, December 17th. They set a “neutral” rating and a $112.00 price target for the company. Citigroup increased their price target on shares of East West Bancorp from $103.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods increased 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. Compass Point increased their price target on shares of East West Bancorp from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, StockNews.com upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $110.38.

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.