Canada Pension Plan Investment Board Invests $2.74 Million in East West Bancorp, Inc. $EWBC

Canada Pension Plan Investment Board purchased a new stake in East West Bancorp, Inc. (NASDAQ:EWBC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 21,200 shares of the financial services provider’s stock, valued at approximately $2,737,000.

Other hedge funds also recently bought and sold shares of the company. Solstein Capital LLC bought a new stake in shares of East West Bancorp in the 2nd quarter valued at $27,000. Atlantic Union Bankshares Corp bought a new position in East West Bancorp during the fourth quarter worth about $31,000. Kelleher Financial Advisors bought a new position in East West Bancorp during the third quarter worth about $31,000. Fiduciary Financial Advisors acquired a new position in East West Bancorp in the second quarter valued at about $35,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in East West Bancorp in the second quarter valued at about $37,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Morgan Stanley increased their price target on East West Bancorp from $128.00 to $131.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $152.00 price objective on shares of East West Bancorp in a report on Wednesday, August 19th. Citigroup reiterated a “buy” rating on shares of East West Bancorp in a research report on Thursday, July 23rd. Stephens increased their target price on East West Bancorp from $129.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Finally, Barclays raised their target price on shares of East West Bancorp from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $141.92.

East West Bancorp Price Performance

EWBC stock opened at $129.44 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $17.73 billion, a P/E ratio of 12.45, a P/E/G ratio of 1.50 and a beta of 0.94. The business has a 50-day moving average of $131.47 and a 200-day moving average of $122.39. East West Bancorp, Inc. has a fifty-two week low of $92.67 and a fifty-two week high of $137.47.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.02. The business had revenue of $789.98 million for the quarter, compared to analyst estimates of $784.47 million. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%.East West Bancorp’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.24 EPS. On average, sell-side analysts anticipate that East West Bancorp, Inc. will post 10.61 earnings per share for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 3rd. East West Bancorp’s payout ratio is currently 30.77%.

Insider Transactions at East West Bancorp

In related news, Vice Chairman Douglas Paul Krause sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $132.37, for a total value of $1,323,700.00. Following the completion of the transaction, the insider owned 36,974 shares of the company’s stock, valued at approximately $4,894,248.38. This trade represents a 21.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Irene H. Oh sold 800 shares of East West Bancorp stock in a transaction on Monday, June 15th. The shares were sold at an average price of $133.19, for a total transaction of $106,552.00. Following the completion of the sale, the insider owned 84,698 shares in the company, valued at $11,280,926.62. The trade was a 0.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 23,511 shares of company stock valued at $3,077,741 over the last 90 days. 0.94% of the stock is owned by corporate insiders.

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.