East West Bancorp, Inc. (NASDAQ:EWBC) – Investment analysts at SunTrust Banks lowered their FY2017 EPS estimates for East West Bancorp in a research note issued on Monday. SunTrust Banks analyst M. Young now forecasts that the financial services provider will post earnings per share of $3.45 for the year, down from their prior forecast of $3.52. SunTrust Banks has a “Buy” rating and a $65.00 price target on the stock.

East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.86 by $0.03. The company had revenue of $348.97 million during the quarter, compared to the consensus estimate of $349.28 million. East West Bancorp had a net margin of 34.75% and a return on equity of 13.51%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 earnings per share.

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A number of other brokerages have also recently issued reports on EWBC. BMO Capital Markets lifted their price target on shares of East West Bancorp from $61.00 to $63.00 and gave the company a “market perform” rating in a research report on Friday, October 20th. Raymond James Financial, Inc. raised shares of East West Bancorp from an “underperform” rating to a “market perform” rating in a research report on Thursday, October 5th. Zacks Investment Research cut shares of East West Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Morgan Stanley reissued an “equal weight” rating and set a $63.00 price target (up from $61.00) on shares of East West Bancorp in a research report on Wednesday, October 4th. Finally, BidaskClub cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $64.60.

Shares of East West Bancorp (NASDAQ:EWBC) opened at 60.61 on Thursday. The company has a market capitalization of $8.76 billion, a P/E ratio of 17.31 and a beta of 1.46. East West Bancorp has a 52-week low of $38.13 and a 52-week high of $61.90. The stock’s 50 day moving average is $58.05 and its 200 day moving average is $56.56.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $0.80 annualized dividend and a yield of 1.33%. East West Bancorp’s dividend payout ratio (DPR) is presently 21.98%.

In other East West Bancorp news, Director Herman Y. Li sold 10,000 shares of East West Bancorp stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $61.00, for a total value of $610,000.00. Following the completion of the transaction, the director now directly owns 40,130 shares of the company’s stock, valued at $2,447,930. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rudolph Estrada sold 1,916 shares of East West Bancorp stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $55.97, for a total transaction of $107,238.52. Following the completion of the transaction, the director now directly owns 15,475 shares of the company’s stock, valued at $866,135.75. The disclosure for this sale can be found here. Insiders sold 12,040 shares of company stock valued at $724,240 over the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. grew its stake in shares of 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 acquiring an additional 1,660,844 shares during the period. BlackRock Inc. grew its stake in shares of East West Bancorp by 11.5% in the second quarter. BlackRock Inc. now owns 13,329,464 shares of the financial services provider’s stock worth $780,841,000 after acquiring an additional 1,373,528 shares during the period. William Blair Investment Management LLC grew its stake in shares of 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 acquiring an additional 1,142,250 shares during the period. State Street Corp grew its stake in shares of 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 acquiring an additional 1,004,860 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of East West Bancorp by 7.5% in the second quarter. Vanguard Group Inc. now owns 12,734,214 shares of the financial services provider’s stock worth $745,971,000 after acquiring an additional 893,764 shares during the period. 90.39% of the stock is 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.

Earnings History and Estimates for East West Bancorp (NASDAQ:EWBC)

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