East West Bancorp, Inc. (EWBC) Expected to Announce Earnings of $0.87 Per Share
Analysts forecast that East West Bancorp, Inc. (NASDAQ:EWBC) will announce $0.87 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for East West Bancorp’s earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $0.91. East West Bancorp posted earnings per share of $0.76 in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.5%. The firm is expected to announce its next earnings results on Wednesday, October 18th.
According to Zacks, analysts expect that East West Bancorp will report full year earnings of $3.70 per share for the current fiscal year, with EPS estimates ranging from $3.38 to $3.83. For the next fiscal year, analysts anticipate that the business will report earnings of $3.84 per share, with EPS estimates ranging from $3.70 to $4.02. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow East West Bancorp.
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 (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. The company had revenue of $337.49 million during the quarter, compared to analyst estimates of $329.32 million. East West Bancorp had a net margin of 34.63% and a return on equity of 13.31%. During the same period last year, the firm posted $0.71 EPS.
Several research analysts have issued reports on EWBC shares. Zacks Investment Research cut East West Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 9th. BidaskClub raised East West Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Wedbush reissued an “outperform” rating and issued a $68.00 target price on shares of East West Bancorp in a report on Thursday, July 20th. Morgan Stanley reissued an “equal weight” rating and issued a $60.00 target price (up previously from $59.00) on shares of East West Bancorp in a report on Thursday, July 6th. Finally, BMO Capital Markets lowered East West Bancorp from an “outperform” rating to a “market perform” rating and set a $63.00 target price on the stock. in a report on Friday, July 7th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $62.88.
In related news, Director Jack C. Liu sold 1,123 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $59.00, for a total transaction of $66,257.00. Following the sale, the director now owns 23,669 shares of the company’s stock, valued at $1,396,471. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in East West Bancorp by 11,449.0% in the first quarter. BlackRock Inc. now owns 11,955,936 shares of the financial services provider’s stock worth $617,046,000 after buying an additional 11,852,412 shares during the last quarter. Principal Financial Group Inc. raised its stake in East West Bancorp by 128.7% in the second quarter. Principal Financial Group Inc. now owns 2,951,316 shares of the financial services provider’s stock worth $172,888,000 after buying an additional 1,660,844 shares during the last quarter. William Blair Investment Management LLC raised its stake in East West Bancorp by 75.9% in the second quarter. William Blair Investment Management LLC now owns 2,646,584 shares of the financial services provider’s stock worth $155,037,000 after buying an additional 1,142,250 shares during the last quarter. Victory Capital Management Inc. raised its stake in East West Bancorp by 6,167.5% in the first quarter. Victory Capital Management Inc. now owns 1,109,782 shares of the financial services provider’s stock worth $57,276,000 after buying an additional 1,092,075 shares during the last quarter. Finally, State Street Corp raised its stake in East West Bancorp by 16.5% in the second quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock worth $415,902,000 after buying an additional 1,004,860 shares during the last quarter. 92.16% of the stock is currently owned by institutional investors and hedge funds.
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Shares of East West Bancorp (EWBC) traded down 0.33% during midday trading on Friday, hitting $54.52. 511,225 shares of the stock were exchanged. East West Bancorp has a one year low of $34.08 and a one year high of $60.42. The firm has a 50 day moving average of $57.48 and a 200-day moving average of $55.07. The company has a market cap of $7.88 billion, a price-to-earnings ratio of 15.57 and a beta of 1.41.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.47%. The ex-dividend date was Friday, July 28th. East West Bancorp’s dividend payout ratio (DPR) is 22.92%.
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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