Go Pro

KBC Group NV Boosts Position in East West Bancorp, Inc. $EWBC

East West Bancorp logo with Finance background
Image from MarketBeat Media, LLC.

Key Points

  • KBC Group NV sharply increased its stake in East West Bancorp during the first quarter, boosting holdings by 2,035.8% to 83,469 shares worth about $8.9 million.
  • East West Bancorp recently posted better-than-expected quarterly results, with EPS of $2.63 and revenue of $791.1 million, while total loans and deposits reached record highs.
  • The bank also raised its quarterly dividend to $0.80 per share, and analysts remain generally positive with a consensus "Moderate Buy" rating and an average price target of $139.08.
  • Interested in East West Bancorp? Here are five stocks we like better.

KBC Group NV raised its holdings in shares of East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) by 2,035.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,469 shares of the financial services provider's stock after buying an additional 79,561 shares during the period. KBC Group NV owned about 0.06% of East West Bancorp worth $8,911,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Atlantic Union Bankshares Corp acquired a new stake in shares of East West Bancorp in the fourth quarter worth $31,000. Kelleher Financial Advisors acquired a new position in shares of East West Bancorp during the 3rd quarter valued at $31,000. Signaturefd LLC lifted its holdings in shares of East West Bancorp by 115.0% during the 4th quarter. Signaturefd LLC now owns 344 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 184 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in East West Bancorp by 44.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 366 shares of the financial services provider's stock worth $39,000 after purchasing an additional 113 shares during the period. Finally, Quarry LP boosted its position in East West Bancorp by 35.4% during the 3rd quarter. Quarry LP now owns 390 shares of the financial services provider's stock worth $42,000 after purchasing an additional 102 shares during the period. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Archana Deskus sold 1,800 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $125.55, for a total value of $225,990.00. Following the completion of the transaction, the director owned 13,231 shares of the company's stock, valued at approximately $1,661,152.05. This represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Irene H. Oh sold 11,211 shares of the firm'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 sale, the insider owned 85,998 shares of the company's stock, valued at approximately $11,093,742. This trade represents a 11.53% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 54,311 shares of company stock worth $6,784,711. 0.94% of the stock is owned by insiders.

East West Bancorp Price Performance

EWBC opened at $131.60 on Thursday. East West Bancorp, Inc. has a twelve month low of $92.67 and a twelve month high of $136.24. The firm has a market cap of $18.03 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.54 and a beta of 0.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The company has a fifty day simple moving average of $127.74 and a 200 day simple moving average of $119.34.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $2.61 by $0.02. The firm had revenue of $791.14 million for the quarter, compared to analyst estimates of $784.47 million. East West Bancorp had a net margin of 30.45% and a return on equity of 16.26%. The firm's revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.24 EPS. Equities research analysts expect that East West Bancorp, Inc. will post 10.56 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be paid a $0.80 dividend. The ex-dividend date is Monday, August 3rd. This represents a $3.20 annualized dividend and a dividend yield of 2.4%. East West Bancorp's payout ratio is 31.97%.

Analyst Ratings Changes

EWBC has been the topic of several research reports. Barclays raised their price objective on East West Bancorp from $142.00 to $150.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. UBS Group upped their target price on East West Bancorp from $125.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $150.00 target price on shares of East West Bancorp in a research note on Wednesday. Morgan Stanley raised their target price on East West Bancorp from $128.00 to $131.00 and gave the company an "equal weight" rating in a report on Monday, June 29th. Finally, Stephens boosted their price target on East West Bancorp from $129.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, East West Bancorp has an average rating of "Moderate Buy" and an average price target of $139.08.

View Our Latest Analysis on East West Bancorp

Trending Headlines about East West Bancorp

Here are the key news stories impacting East West Bancorp this week:

About East West Bancorp

(Free Report)

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.

Read More

Institutional Ownership by Quarter for East West Bancorp (NASDAQ:EWBC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in East West Bancorp Right Now?

Before you consider East West Bancorp, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and East West Bancorp wasn't on the list.

While East West Bancorp currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Buy Before the Robotics Revolution Cover

Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.

"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines