Brokerages Expect East West Bancorp, Inc. (EWBC) to Announce $0.87 Earnings Per Share
Brokerages predict that East West Bancorp, Inc. (NASDAQ:EWBC) will report earnings of $0.87 per share for the current quarter, Zacks reports. Five analysts have issued estimates for East West Bancorp’s earnings, with estimates ranging from $0.85 to $0.91. East West Bancorp reported earnings per share of $0.76 during the same quarter last year, which indicates a positive year over year growth rate of 14.5%. The business is expected to report its next quarterly earnings results on Wednesday, October 18th.
On average, analysts expect that East West Bancorp will report full year earnings of $3.76 per share for the current fiscal year, with EPS estimates ranging from $3.69 to $3.83. For the next fiscal year, analysts anticipate that the company will post earnings of $3.84 per share, with EPS estimates ranging from $3.70 to $4.02. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow East West Bancorp.
East West Bancorp (NASDAQ:EWBC) last posted its 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 firm 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 34.63% and a return on equity of 13.31%. During the same quarter last year, the company earned $0.71 earnings per share.
EWBC has been the subject of several analyst reports. Piper Jaffray Companies set a $68.00 target price on shares of East West Bancorp and gave the stock a “buy” rating in a report on Saturday, June 17th. BidaskClub raised shares of East West Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research raised shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Tuesday, June 6th. Morgan Stanley reissued an “equal weight” rating and issued a $60.00 target price (up from $59.00) on shares of East West Bancorp in a report on Thursday, July 6th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $57.00 target price on shares of East West Bancorp in a report on Monday, May 22nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $62.63.
In other East West Bancorp news, Director Jack C. Liu sold 1,123 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $59.00, for a total transaction of $66,257.00. Following the completion of the sale, 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 legal filing with the SEC, which is available at this link. Company insiders own 0.88% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank purchased a new stake in East West Bancorp during the 2nd quarter valued at approximately $104,000. Strs Ohio purchased a new stake in East West Bancorp during the 2nd quarter valued at approximately $110,000. San Francisco Sentry Investment Group CA purchased a new stake in East West Bancorp during the 2nd quarter valued at approximately $138,000. D.A. Davidson & CO. grew its holdings in East West Bancorp by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock valued at $146,000 after buying an additional 26 shares in the last quarter. Finally, Americafirst Capital Management LLC purchased a new stake in East West Bancorp during the 2nd quarter valued at approximately $149,000. 91.34% of the stock is owned by institutional investors and hedge funds.
East West Bancorp (NASDAQ:EWBC) traded up 0.87% during trading on Friday, hitting $53.49. 556,773 shares of the stock traded hands. The company has a market cap of $7.73 billion, a P/E ratio of 15.28 and a beta of 1.43. East West Bancorp has a 52-week low of $35.33 and a 52-week high of $60.42. The firm has a 50-day moving average price of $56.18 and a 200 day moving average price of $55.31.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Friday, July 28th. East West Bancorp’s dividend payout ratio (DPR) is currently 22.92%.
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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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