East West Bancorp, Inc. (EWBC) Updates Q3 Earnings Guidance
East West Bancorp, Inc. (NASDAQ:EWBC) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.58-0.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.60, Analyst RN reports. East West Bancorp also updated its FY14 guidance to $2.29-2.33 EPS.
Shares of East West Bancorp, Inc. (NASDAQ:EWBC) traded down 1.46% during mid-day trading on Wednesday, hitting $35.14. The stock had a trading volume of 988,867 shares. East West Bancorp, Inc. has a 52-week low of $28.38 and a 52-week 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 P/E ratio of 16.64.
East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data 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. On average, analysts predict that East West Bancorp, Inc. will post $2.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 15th. Investors 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%.
EWBC has been the subject of a number of recent research reports. 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the company. East West Bancorp presently has an average rating of Buy and a consensus target price of $37.23.
East West Bancorp, Inc (NASDAQ:EWBC) is a bank holding company.
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