East West Bancorp, Inc. $EWBC Shares Purchased by Arbejdsmarkedets Tillaegspension

Key Points

• Arbejdsmarkedets Tillaegspension increased its East West Bancorp stake by 12.9% in the first quarter, buying 27,302 more shares and bringing its total to 239,499 shares valued at about $25.6 million.
• East West Bancorp reported solid quarterly results, posting EPS of $2.57 versus analysts’ estimate of $2.46 and revenue of $773.75 million, with revenue up 11.8% from a year earlier.
• Analysts remain generally bullish on the stock, with a consensus “Moderate Buy” rating and an average price target of $137, while several firms recently raised their targets.

Arbejdsmarkedets Tillaegspension lifted its stake in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 12.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 239,499 shares of the financial services provider's stock after purchasing an additional 27,302 shares during the quarter. Arbejdsmarkedets Tillaegspension owned about 0.17% of East West Bancorp worth $25,569,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Atlantic Union Bankshares Corp purchased a new stake in shares of East West Bancorp in the fourth quarter valued at about $31,000. Kelleher Financial Advisors purchased a new position in East West Bancorp during the third quarter worth about $31,000. Signaturefd LLC lifted its position in East West Bancorp by 115.0% in the fourth quarter. Signaturefd LLC now owns 344 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 184 shares during the period. Wilmington Savings Fund Society FSB lifted its position in East West Bancorp by 44.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 113 shares during the period. Finally, Quarry LP boosted its holdings in East West Bancorp by 35.4% in the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 102 shares in the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

East West Bancorp Stock Performance

NASDAQ EWBC opened at $131.54 on Monday. East West Bancorp, Inc. has a 1-year low of $92.67 and a 1-year high of $136.00. The company has a market capitalization of $18.02 billion, a P/E ratio of 13.14, a PEG ratio of 1.51 and a beta of 0.94. The business has a 50 day moving average price of $126.08 and a 200 day moving average price of $118.30. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last posted its earnings results on Tuesday, April 21st. The financial services provider reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.46 by $0.11. The company had revenue of $773.75 million for the quarter, compared to the consensus estimate of $767.80 million. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.East West Bancorp's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.08 earnings per share. Sell-side analysts expect that East West Bancorp, Inc. will post 10.57 EPS for the current fiscal year.

East West Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Investors of record on Monday, May 4th were given a $0.80 dividend. The ex-dividend date was Monday, May 4th. This represents a $3.20 annualized dividend and a dividend yield of 2.4%. East West Bancorp's payout ratio is currently 31.97%.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the firm's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $123.50, for a total transaction of $1,235,000.00. Following the completion of the transaction, the insider directly owned 46,974 shares in the company, valued at approximately $5,801,289. This trade represents a 17.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Irene H. Oh sold 800 shares of East West Bancorp stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $133.19, for a total transaction of $106,552.00. Following the transaction, the insider owned 84,698 shares of the company's stock, valued at approximately $11,280,926.62. The trade was a 0.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 54,311 shares of company stock valued at $6,784,711 over the last 90 days. 0.94% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on EWBC shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $133.00 target price on shares of East West Bancorp in a research report on Wednesday, April 22nd. Citigroup raised their price target on East West Bancorp from $145.00 to $154.00 and gave the company a "buy" rating in a report on Thursday, June 25th. Barclays upped their price objective on East West Bancorp from $142.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. Piper Sandler increased their price objective 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, Truist Financial raised their target price on East West Bancorp from $128.00 to $136.00 and gave the company a "hold" rating in a report on Friday. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, East West Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $137.00.

About East West Bancorp

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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