Q3 2017 EPS Estimates for East West Bancorp, Inc. (NASDAQ:EWBC) Increased by Analyst
East West Bancorp, Inc. (NASDAQ:EWBC) – Investment analysts at Wedbush upped their Q3 2017 earnings per share (EPS) estimates for shares of East West Bancorp in a report issued on Thursday. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings of $0.86 per share for the quarter, up from their prior estimate of $0.85. Wedbush currently has a “Outperform” rating and a $68.00 target price on the stock. Wedbush also issued estimates for East West Bancorp’s Q4 2017 earnings at $0.89 EPS, Q2 2018 earnings at $0.96 EPS, Q3 2018 earnings at $0.98 EPS and Q4 2018 earnings at $1.02 EPS.
Other analysts have also recently issued research reports about the company. Piper Jaffray Companies set a $68.00 price target on East West Bancorp and gave the company a “buy” rating in a report on Saturday, June 17th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $57.00 price target on shares of East West Bancorp in a report on Monday, May 22nd. Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, April 20th. Morgan Stanley lifted their price target on East West Bancorp from $57.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday, June 6th. Finally, BMO Capital Markets cut East West Bancorp from an “outperform” rating to a “market perform” rating and set a $63.00 price target for the company. in a report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $62.63.
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East West Bancorp (EWBC) opened at 57.41 on Friday. The stock has a market cap of $8.29 billion, a PE ratio of 16.93 and a beta of 1.42. The company’s 50 day moving average is $57.62 and its 200 day moving average is $54.22. East West Bancorp has a 12 month low of $33.02 and a 12 month high of $60.42.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share for the quarter, hitting the consensus estimate of $0.81. The business had revenue of $337.49 million during the quarter, compared to the consensus estimate of $329.32 million. East West Bancorp had a net margin of 34.72% and a return on equity of 13.24%. During the same period in the previous year, the firm posted $0.71 earnings per share.
Several large investors have recently modified their holdings of EWBC. Quadrature Capital Ltd purchased a new stake in shares of East West Bancorp during the fourth quarter worth $221,000. Macquarie Group Ltd. increased its stake in shares of East West Bancorp by 1.8% in the fourth quarter. Macquarie Group Ltd. now owns 3,993,177 shares of the financial services provider’s stock worth $202,973,000 after buying an additional 71,444 shares during the period. CENTRAL TRUST Co purchased a new stake in shares of East West Bancorp during the first quarter worth $177,000. Capstone Asset Management Co. increased its stake in shares of East West Bancorp by 5.0% in the first quarter. Capstone Asset Management Co. now owns 10,804 shares of the financial services provider’s stock worth $558,000 after buying an additional 510 shares during the period. Finally, Parametrica Management Ltd purchased a new stake in shares of East West Bancorp during the first quarter worth $351,000. Institutional investors and hedge funds own 87.68% of the company’s stock.
In other East West Bancorp news, Director Jack C. Liu sold 1,123 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $59.00, for a total value of $66,257.00. Following the transaction, the director now directly owns 23,669 shares of the company’s stock, valued at approximately $1,396,471. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Molly Campbell sold 590 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $55.93, for a total value of $32,998.70. Following the completion of the transaction, the director now directly owns 3,903 shares in the company, valued at $218,294.79. The disclosure for this sale can be found here. Insiders have sold a total of 31,713 shares of company stock worth $1,784,596 over the last three months. 0.88% of the stock is currently owned by corporate insiders.
About East West Bancorp
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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