PFA Pension Forsikringsaktieselskab Acquires New Holdings in East West Bancorp, Inc. $EWBC

Key Points

• PFA Pension acquired a new stake of 33,431 shares in East West Bancorp in the fourth quarter, valued at about $3.81 million, joining other large institutional buyers as institutional ownership sits at 89.53%.
• East West Bancorp beat estimates in its most recent quarter (EPS $2.57 vs. $2.46; revenue $773.75M) and declared a quarterly dividend of $0.80 ($3.20 annualized, ~2.6% yield; ex-dividend May 4, payable May 18).
• Analysts skew positive with a consensus "Moderate Buy" and an average price target of $132.36 while the stock trades around $123 (P/E 12.33); however, insiders have sold roughly 62,021 shares (~$7.37M) in the last 90 days.

PFA Pension Forsikringsaktieselskab acquired a new stake in East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 33,431 shares of the financial services provider's stock, valued at approximately $3,813,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Boston Partners boosted its position in 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 acquiring an additional 633,649 shares during the last quarter. AQR Capital Management LLC boosted its position in East West Bancorp by 61.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,418,174 shares of the financial services provider's stock worth $143,207,000 after acquiring an additional 542,149 shares during the last quarter. Bank of America Corp DE boosted its position in East West Bancorp by 23.6% during the 2nd quarter. Bank of America Corp DE now owns 2,051,360 shares of the financial services provider's stock worth $207,146,000 after acquiring an additional 391,059 shares during the last quarter. Fiera Capital Corp acquired a new position in East West Bancorp during the 3rd quarter worth approximately $41,243,000. Finally, Schroder Investment Management Group boosted its position in East West Bancorp by 10.9% during the 3rd quarter. Schroder Investment Management Group now owns 3,395,376 shares of the financial services provider's stock worth $361,879,000 after acquiring an additional 334,429 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Trading Down 1.9%

Shares of East West Bancorp stock opened at $123.42 on Tuesday. The business has a fifty day simple moving average of $112.48 and a two-hundred day simple moving average of $111.15. East West Bancorp, Inc. has a 1 year low of $86.21 and a 1 year high of $127.51. The company has a market capitalization of $16.91 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 1.55 and a beta of 0.97. 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 quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.11. The firm had revenue of $773.75 million for the quarter, compared to analysts' expectations of $767.80 million. East West Bancorp had a return on equity of 16.00% and a net margin of 29.59%.The company's quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.08 EPS. Research analysts forecast that East West Bancorp, Inc. will post 10.57 EPS for the current year.

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 18th. Shareholders of record on Monday, May 4th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, May 4th. This represents a $3.20 annualized dividend and a yield of 2.6%. East West Bancorp's dividend payout ratio (DPR) is presently 31.97%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on EWBC shares. Stephens upped their price target on East West Bancorp from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Monday, January 26th. TD Cowen upped their price target 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. Morgan Stanley reduced their price target on East West Bancorp from $141.00 to $128.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 31st. Piper Sandler upped their price target 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, Keefe, Bruyette & Woods upped their price target on East West Bancorp from $131.00 to $135.00 and gave the stock an "outperform" rating in a research report on Friday, January 23rd. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $132.36.

Insider Activity

In other East West Bancorp news, Director Jack C. Liu sold 1,421 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $119.00, for a total transaction of $169,099.00. Following the transaction, the director owned 13,553 shares in the company, valued at $1,612,807. This trade represents a 9.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gary Teo sold 7,000 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $122.59, for a total value of $858,130.00. Following the transaction, the executive vice president owned 5,252 shares in the company, valued at $643,842.68. The trade was a 57.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 62,021 shares of company stock worth $7,365,277. Corporate insiders own 0.94% of the company's stock.

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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