Research Analysts Issue Forecasts for East West Bancorp, Inc.’s Q2 2017 Earnings (EWBC)
East West Bancorp, Inc. (NASDAQ:EWBC) – Analysts at Wedbush issued their Q2 2017 earnings per share (EPS) estimates for shares of East West Bancorp in a research report issued on Tuesday. Wedbush analyst D. Chiaverini anticipates that the financial services provider will post earnings per share of $0.80 for the quarter. Wedbush currently has a “Outperform” rating and a $68.00 target price on the stock. Wedbush also issued estimates for East West Bancorp’s Q3 2017 earnings at $0.85 EPS, Q4 2017 earnings at $0.90 EPS, FY2017 earnings at $3.44 EPS, Q1 2018 earnings at $0.88 EPS, Q2 2018 earnings at $0.94 EPS, Q3 2018 earnings at $0.99 EPS, Q4 2018 earnings at $1.04 EPS and FY2018 earnings at $3.85 EPS.
Several other research firms also recently commented on EWBC. Piper Jaffray Companies set a $68.00 price objective on East West Bancorp and gave the stock a “buy” rating in a report on Saturday, June 17th. BidaskClub upgraded East West Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Keefe, Bruyette & Woods restated a “hold” rating and set a $57.00 price objective on shares of East West Bancorp in a report on Friday, June 23rd. Zacks Investment Research downgraded East West Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 9th. Finally, Raymond James Financial, Inc. restated an “underperform” rating on shares of East West Bancorp in a report on Thursday, March 16th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $60.50.
Shares of East West Bancorp (EWBC) opened at 58.46 on Friday. East West Bancorp has a 52-week low of $31.34 and a 52-week high of $60.04. The company’s 50 day moving average price is $56.22 and its 200 day moving average price is $53.40. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 17.24 and a beta of 1.42.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.14. East West Bancorp had a return on equity of 13.24% and a net margin of 34.72%. The company had revenue of $388.15 million for the quarter, compared to analyst estimates of $314.52 million. During the same period in the previous year, the company posted $0.71 earnings per share.
In other East West Bancorp news, Director Herman Y. Li sold 4,000 shares of the stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $56.75, for a total transaction of $227,000.00. Following the sale, the director now owns 48,000 shares of the company’s stock, valued at approximately $2,724,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dominic Ng sold 26,200 shares of the stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $51.15, for a total value of $1,340,130.00. Following the sale, the chief executive officer now directly owns 569,957 shares in the company, valued at approximately $29,153,300.55. The disclosure for this sale can be found here. Insiders have sold a total of 110,313 shares of company stock worth $5,807,868 in the last ninety days. Insiders own 0.88% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Washington Trust Bank boosted its stake in shares of East West Bancorp by 3.7% in the first quarter. Washington Trust Bank now owns 2,380 shares of the financial services provider’s stock valued at $123,000 after buying an additional 86 shares during the period. CENTRAL TRUST Co bought a new stake in shares of East West Bancorp during the first quarter valued at about $177,000. Quadrature Capital Ltd bought a new stake in shares of East West Bancorp during the fourth quarter valued at about $221,000. United Capital Financial Advisers LLC bought a new stake in shares of East West Bancorp during the fourth quarter valued at about $227,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of East West Bancorp during the first quarter valued at about $230,000. 87.57% of the stock is currently owned by institutional investors and hedge funds.
East West Bancorp Company Profile
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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