53,690 Shares in East West Bancorp, Inc. $EWBC Acquired by NFJ Investment Group LLC

Key Points

• NFJ Investment Group acquired 53,690 shares of East West Bancorp in the second quarter, valued at approximately $6.9 million. Institutional investors collectively own 89.53% of EWBC’s outstanding stock.
• Analysts remain broadly positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $141.92. Recent target increases include $155 from DA Davidson and Barclays.
• East West Bancorp exceeded quarterly expectations, reporting $2.63 in EPS and $789.98 million in revenue, while revenue grew 12.5% year over year. The company also paid a quarterly dividend of $0.80 per share, representing a 2.5% yield.

NFJ Investment Group LLC bought a new stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 53,690 shares of the financial services provider's stock, valued at approximately $6,931,000.

A number of other institutional investors also recently added to or reduced their stakes in EWBC. Virtus Advisers LLC purchased a new stake in shares of East West Bancorp in the 2nd quarter valued at approximately $121,000. Trillium Asset Management LLC purchased a new stake in shares of East West Bancorp during the 2nd quarter worth $19,439,000. Vise Technologies Inc. purchased a new stake in shares of East West Bancorp during the 2nd quarter worth $528,000. one8zero8 LLC acquired a new position in shares of East West Bancorp during the second quarter worth $216,000. Finally, West Family Investments Inc. acquired a new position in shares of East West Bancorp during the second quarter worth $806,000. Hedge funds and other institutional investors own 89.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Piper Sandler raised their price target on East West Bancorp from $111.00 to $123.00 and gave the company a "neutral" rating in a research note on Monday, April 27th. DA Davidson upped their price objective on East West Bancorp from $150.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $152.00 price objective on shares of East West Bancorp in a report on Wednesday. Truist Financial raised their target price on East West Bancorp from $128.00 to $136.00 and gave the stock a "hold" rating in a research report on Friday, July 10th. Finally, Barclays boosted their target price on East West Bancorp from $150.00 to $155.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $141.92.

East West Bancorp Price Performance

Shares of NASDAQ:EWBC opened at $129.89 on Friday. East West Bancorp, Inc. has a one year low of $92.67 and a one year high of $137.47. The company has a 50-day simple moving average of $131.43 and a 200-day simple moving average of $121.91. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $17.80 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.51 and a beta of 0.94.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.02. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.The company had revenue of $789.98 million for the quarter, compared to the consensus estimate of $784.47 million. During the same period last year, the business posted $2.24 EPS. The company's revenue was up 12.5% on a year-over-year basis. On average, analysts predict that East West Bancorp, Inc. will post 10.61 EPS for the current year.

East West Bancorp Announces Dividend

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

Insider Buying and Selling

In other East West Bancorp news, Director Jack C. Liu sold 1,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $135.02, for a total value of $135,020.00. Following the completion of the transaction, the director owned 13,709 shares in the company, valued at approximately $1,850,989.18. This represents a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Irene H. Oh sold 11,211 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $129.00, for a total transaction of $1,446,219.00. Following the completion of the transaction, the insider owned 85,998 shares of the company's stock, valued at $11,093,742. This represents a 11.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,511 shares of company stock valued at $4,312,741 over the last quarter. Company insiders own 0.94% of the company's stock.

East West Bancorp 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.

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