Brokers Set Expectations for East West Bancorp, Inc.’s Q1 2018 Earnings (EWBC)
East West Bancorp, Inc. (NASDAQ:EWBC) – Stock analysts at DA Davidson issued their Q1 2018 earnings per share (EPS) estimates for East West Bancorp in a research note issued on Friday. DA Davidson analyst G. Tenner anticipates that the financial services provider will earn $0.90 per share for the quarter. DA Davidson has a “Hold” rating and a $63.00 price target on the stock. DA Davidson also issued estimates for East West Bancorp’s Q2 2018 earnings at $0.95 EPS, Q3 2018 earnings at $0.98 EPS, Q4 2018 earnings at $1.01 EPS and FY2018 earnings at $3.83 EPS.
East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.03. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The firm had revenue of $348.97 million for the quarter, compared to analyst estimates of $349.28 million. During the same period in the previous year, the firm earned $0.76 earnings per share. The company’s revenue was up 15.0% compared to the same quarter last year.
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EWBC has been the subject of several other research reports. Zacks Investment Research upgraded East West Bancorp from a “sell” rating to a “hold” rating in a report on Friday, October 6th. Deutsche Bank AG cut East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 price objective for the company. in a report on Friday, July 14th. BMO Capital Markets reiterated a “hold” rating and issued a $61.00 price objective on shares of East West Bancorp in a report on Thursday, October 5th. Barclays PLC set a $66.00 price objective on East West Bancorp and gave the stock a “buy” rating in a report on Friday. Finally, BidaskClub cut East West Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $64.20.
East West Bancorp (NASDAQ:EWBC) opened at 61.37 on Monday. The firm has a 50-day moving average price of $57.66 and a 200 day moving average price of $56.32. East West Bancorp has a 52 week low of $38.13 and a 52 week high of $61.53. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 17.53 and a beta of 1.46.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Tuesday, October 31st. East West Bancorp’s payout ratio is presently 21.98%.
In other news, Director Rudolph Estrada sold 1,916 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $55.97, for a total value of $107,238.52. Following the completion of the transaction, the director now owns 15,475 shares in the company, valued at approximately $866,135.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.88% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in EWBC. UBS Asset Management Americas Inc. lifted its stake in shares of East West Bancorp by 19.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 87,556 shares of the financial services provider’s stock valued at $4,519,000 after purchasing an additional 13,968 shares during the period. United Services Automobile Association purchased a new position in East West Bancorp during the first quarter valued at $591,000. Legal & General Group Plc raised its stake in East West Bancorp by 62.7% during the first quarter. Legal & General Group Plc now owns 131,406 shares of the financial services provider’s stock valued at $6,784,000 after buying an additional 50,622 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in East West Bancorp during the first quarter valued at $744,000. Finally, Marshall Wace North America L.P. purchased a new position in East West Bancorp during the first quarter valued at $744,000. Institutional investors own 90.47% of the company’s stock.
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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