Azora Capital LP Takes $19.41 Million Position in East West Bancorp, Inc. $EWBC

Key Points

• Azora Capital LP opened a new position in East West Bancorp, buying 172,673 shares worth about $19.4 million. The stake represents roughly 1.2% of Azora’s portfolio and about 0.13% of East West Bancorp.
• East West Bancorp reported better-than-expected quarterly results, with earnings of $2.57 per share versus the $2.46 consensus and revenue rising 11.8% year over year to $773.75 million.
• The bank also paid a $0.80 quarterly dividend, equivalent to $3.20 annually and a 2.5% yield, while analysts currently rate the stock a Moderate Buy with a consensus price target of $133.69.

Azora Capital LP purchased a new stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 172,673 shares of the financial services provider's stock, valued at approximately $19,407,000. East West Bancorp comprises approximately 1.2% of Azora Capital LP's portfolio, making the stock its 23rd biggest position. Azora Capital LP owned about 0.13% of East West Bancorp at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Quarry LP lifted its position in East West Bancorp by 35.4% in the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider's stock worth $42,000 after buying an additional 102 shares during the last quarter. Quadrant Capital Group LLC lifted its position in East West Bancorp by 1.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 5,674 shares of the financial services provider's stock worth $604,000 after buying an additional 102 shares during the last quarter. Bradley Foster & Sargent Inc. CT lifted its position in East West Bancorp by 1.1% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 9,195 shares of the financial services provider's stock worth $1,033,000 after buying an additional 102 shares during the last quarter. Swiss Life Asset Management Ltd lifted its position in East West Bancorp by 1.7% in the 4th quarter. Swiss Life Asset Management Ltd now owns 6,404 shares of the financial services provider's stock worth $720,000 after buying an additional 104 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in East West Bancorp by 4.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,602 shares of the financial services provider's stock worth $277,000 after buying an additional 108 shares during the last quarter. Institutional investors own 89.53% of the company's stock.

East West Bancorp Stock Performance

Shares of EWBC stock opened at $127.26 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. East West Bancorp, Inc. has a fifty-two week low of $91.36 and a fifty-two week high of $136.00. The stock has a 50 day moving average price of $122.55 and a two-hundred day moving average price of $116.16. The company has a market capitalization of $17.43 billion, a P/E ratio of 12.71, a PEG ratio of 1.60 and a beta of 0.94.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.11. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The firm had revenue of $773.75 million during the quarter, compared to the consensus estimate of $767.80 million. During the same quarter in the previous year, the company posted $2.08 earnings per share. The business's revenue was up 11.8% on a year-over-year basis. Analysts expect that East West Bancorp, Inc. will post 10.6 earnings per share for the current year.

East West Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 4th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. East West Bancorp's payout ratio is 31.97%.

Insiders Place Their Bets

In other news, Director Archana Deskus sold 1,800 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $125.55, for a total transaction of $225,990.00. Following the transaction, the director directly owned 13,231 shares of the company's stock, valued at approximately $1,661,152.05. The trade was a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Irene H. Oh sold 11,211 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $129.00, for a total value of $1,446,219.00. Following the transaction, the insider directly owned 85,998 shares in the company, valued at $11,093,742. This trade represents a 11.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 54,311 shares of company stock valued at $6,784,711 over the last three months. 0.94% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

EWBC has been the subject of a number of recent research reports. Barclays dropped their target price on East West Bancorp from $150.00 to $142.00 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. TD Cowen boosted their target price on East West Bancorp from $137.00 to $143.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Truist Financial boosted their target price on East West Bancorp from $120.00 to $128.00 and gave the stock a "hold" rating in a research report on Thursday, April 23rd. Piper Sandler boosted their target price on East West Bancorp from $111.00 to $123.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. Finally, DA Davidson boosted their target price on East West Bancorp from $135.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $133.69.

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.

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