KLP Kapitalforvaltning AS Increases Position in East West Bancorp, Inc. $EWBC

KLP Kapitalforvaltning AS boosted its holdings in East West Bancorp, Inc. (NASDAQ:EWBC) by 0.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,300 shares of the financial services provider’s stock after purchasing an additional 200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in East West Bancorp were worth $2,858,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Park Place Capital Corp purchased a new stake in East West Bancorp in the second quarter worth about $27,000. Picton Mahoney Asset Management grew its holdings in East West Bancorp by 1,971.4% in the first quarter. Picton Mahoney Asset Management now owns 290 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 276 shares during the period. Chung Wu Investment Group LLC purchased a new stake in East West Bancorp in the second quarter worth about $30,000. WPG Advisers LLC purchased a new stake in East West Bancorp in the first quarter worth about $28,000. Finally, American National Bank & Trust bought a new position in shares of East West Bancorp in the second quarter worth approximately $32,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

East West Bancorp Stock Down 5.4%

Shares of East West Bancorp stock opened at $99.28 on Friday. The company has a market cap of $13.68 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. The company’s 50 day moving average is $105.01 and its 200 day moving average is $96.98. East West Bancorp, Inc. has a twelve month low of $68.27 and a twelve month high of $113.95. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.43.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Monday, December 11th. The financial services provider reported $2.08 earnings per share for the quarter. The company had revenue of $627.36 million for the quarter. East West Bancorp had a net margin of 26.06% and a return on equity of 15.09%. Research analysts anticipate that East West Bancorp, Inc. will post 8.85 EPS for the current year.

East West Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Monday, August 4th were given a dividend of $0.60 per share. The ex-dividend date was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a yield of 2.4%. East West Bancorp’s dividend payout ratio is 28.04%.

Insider Activity at East West Bancorp

In other East West Bancorp news, Director Jack C. Liu sold 1,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $105.00, for a total value of $105,000.00. Following the transaction, the director directly owned 14,974 shares in the company, valued at approximately $1,572,270. This trade represents a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gary Teo sold 6,550 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $106.47, for a total transaction of $697,378.50. Following the completion of the transaction, the executive vice president owned 12,235 shares in the company, valued at $1,302,660.45. The trade was a 34.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,240 shares of company stock worth $7,379,678 in the last three months. 1.04% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EWBC shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of East West Bancorp in a research note on Wednesday. Wall Street Zen upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday. TD Cowen started coverage on shares of East West Bancorp in a research note on Thursday, September 25th. They issued a “buy” rating and a $139.00 target price on the stock. Keefe, Bruyette & Woods upped their target price on shares of East West Bancorp from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 23rd. Finally, Truist Financial set a $112.00 target price on shares of East West Bancorp in a research note on Friday. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $121.33.

East West Bancorp Company Profile

East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.