EFG International AG Takes $6.12 Million Position in East West Bancorp, Inc. $EWBC

EFG International AG bought a new position in shares of East West Bancorp, Inc. (NASDAQ:EWBC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 47,392 shares of the financial services provider’s stock, valued at approximately $6,117,000.

A number of other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new stake in East West Bancorp during the 2nd quarter valued at $1,744,958,000. Northwestern Mutual Wealth Management Co. raised its position in shares of East West Bancorp by 84,090.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,311,566 shares of the financial services provider’s stock valued at $596,967,000 after purchasing an additional 5,305,257 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of East West Bancorp by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,981,065 shares of the financial services provider’s stock valued at $559,822,000 after purchasing an additional 106,998 shares during the period. First Trust Advisors LP lifted its stake in shares of East West Bancorp by 7.1% during the 4th quarter. First Trust Advisors LP now owns 4,620,772 shares of the financial services provider’s stock worth $519,329,000 after buying an additional 306,916 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of East West Bancorp by 19.6% during the 3rd quarter. Boston Partners now owns 3,874,737 shares of the financial services provider’s stock worth $412,464,000 after buying an additional 633,649 shares during the period. 89.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at East West Bancorp

In other news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $132.37, for a total transaction of $1,323,700.00. Following the completion of the transaction, the insider owned 36,974 shares of the company’s stock, valued at approximately $4,894,248.38. This trade represents a 21.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Irene H. Oh sold 11,211 shares of East West Bancorp stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $129.00, for a total transaction of $1,446,219.00. Following the transaction, the insider owned 85,998 shares in the company, valued at approximately $11,093,742. This trade represents a 11.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 23,511 shares of company stock worth $3,077,741. 0.94% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of East West Bancorp from $128.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Citigroup restated a “buy” rating on shares of East West Bancorp in a research note on Thursday, July 23rd. Wells Fargo & Company started coverage on East West Bancorp in a research report on Monday, August 10th. They set an “overweight” rating and a $155.00 price objective on the stock. Truist Financial boosted their target price on shares of East West Bancorp from $128.00 to $136.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Finally, Stephens upped their price target on shares of East West Bancorp from $129.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $141.92.

East West Bancorp Trading Up 0.4%

Shares of East West Bancorp stock opened at $129.43 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.33. East West Bancorp, Inc. has a 12-month low of $92.67 and a 12-month high of $137.47. The company has a market capitalization of $17.73 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.49 and a beta of 0.94. The firm’s 50-day moving average price is $131.30 and its two-hundred day moving average price is $122.20.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $2.63 EPS for the quarter, beating the consensus estimate of $2.61 by $0.02. The company had revenue of $789.98 million during the quarter, compared to analysts’ expectations of $784.47 million. East West Bancorp had a net margin of 30.45% and a return on equity of 16.07%. During the same period in the previous year, the company earned $2.24 EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, analysts forecast that East West Bancorp, Inc. will post 10.61 earnings per share for the current fiscal year.

East West Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, August 3rd. East West Bancorp’s dividend payout ratio is 30.77%.

East West Bancorp Company Profile

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.