East West Bancorp, Inc. (EWBC) Issues FY14 Earnings Guidance
East West Bancorp, Inc. (NASDAQ:EWBC) updated its FY14 earnings guidance on Wednesday. The company provided EPS guidance of $2.29-2.33 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.35, American Banking News.com reports. East West Bancorp also updated its Q3 guidance to $0.58-0.60 EPS.
Several analysts have recently commented on the stock. Analysts at Barclays upgraded shares of East West Bancorp from an equal weight rating to an overweight rating in a research note on Tuesday, June 3rd. They now have a $40.00 price target on the stock, up previously from $38.00. They noted that the move was a valuation call. On a related note, analysts at Deutsche Bank reiterated a buy rating on shares of East West Bancorp in a research note on Tuesday, May 20th. They now have a $40.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a buy rating on shares of East West Bancorp in a research note on Wednesday, April 30th. They now have a $40.00 price target on the stock, up previously from $38.00. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $37.23.
Shares of East West Bancorp, Inc. (NASDAQ:EWBC) traded down 1.46% on Wednesday, hitting $35.14. 988,867 shares of the company’s stock traded hands. East West Bancorp, Inc. has a 1-year low of $28.38 and a 1-year high of $38.26. The stock has a 50-day moving average of $35.12 and a 200-day moving average of $35.03. The company has a market cap of $5.027 billion and a price-to-earnings ratio of 16.64.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Thursday, July 17th. The company reported $0.58 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.58. During the same quarter in the prior year, the company posted $0.52 earnings per share. Analysts expect that East West Bancorp, Inc. will post $2.33 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.02%.
East West Bancorp, Inc (NASDAQ:EWBC) is a bank holding company.
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