$358.00 Million in Sales Expected for East West Bancorp, Inc. (EWBC) This Quarter

Equities analysts expect that East West Bancorp, Inc. (NASDAQ:EWBC) will report $358.00 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for East West Bancorp’s earnings, with estimates ranging from $353.00 million to $361.60 million. East West Bancorp reported sales of $321.50 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.4%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, January 25th.

On average, analysts expect that East West Bancorp will report full year sales of $358.00 million for the current year, with estimates ranging from $1.36 billion to $1.44 billion. For the next fiscal year, analysts expect that the company will post sales of $1.52 billion per share, with estimates ranging from $1.49 billion to $1.54 billion. Zacks’ sales averages are a mean average based on a survey of research firms that cover East West Bancorp.

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

A number of equities analysts have weighed in on the stock. BidaskClub upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Wells Fargo & Co reiterated an “outperform” rating and set a $72.00 target price (up previously from $65.00) on shares of East West Bancorp in a research report on Tuesday, January 9th. Piper Jaffray Companies reiterated a “buy” rating and set a $79.00 target price on shares of East West Bancorp in a research report on Tuesday, January 9th. Zacks Investment Research upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Monday, January 8th. Finally, Sandler O’Neill restated a “buy” rating and issued a $69.00 price objective on shares of East West Bancorp in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. East West Bancorp currently has a consensus rating of “Hold” and a consensus price target of $67.25.

In other East West Bancorp news, Director Jack C. Liu sold 2,200 shares of East West Bancorp stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $58.07, for a total transaction of $127,754.00. Following the completion of the sale, the director now directly owns 23,599 shares in the company, valued at $1,370,393.93. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas Paul Krause sold 5,000 shares of East West Bancorp stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $61.26, for a total transaction of $306,300.00. Following the sale, the insider now owns 18,015 shares of the company’s stock, valued at $1,103,598.90. The disclosure for this sale can be found here. Insiders sold 17,200 shares of company stock valued at $1,044,054 over the last 90 days. 0.88% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank bought a new stake in East West Bancorp during the second quarter valued at approximately $104,000. San Francisco Sentry Investment Group CA bought a new stake in East West Bancorp during the second quarter valued at approximately $138,000. D.A. Davidson & CO. lifted its position in East West Bancorp by 1.0% during the second quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 26 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in East West Bancorp during the second quarter valued at approximately $149,000. Finally, CIBC World Markets Inc. bought a new stake in East West Bancorp during the second quarter valued at approximately $235,000. Institutional investors and hedge funds own 91.38% of the company’s stock.

Shares of East West Bancorp (NASDAQ EWBC) traded up $0.18 during trading hours on Tuesday, reaching $67.32. 1,114,100 shares of the company’s stock were exchanged, compared to its average volume of 968,778. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $9,730.63, a price-to-earnings ratio of 18.49, a PEG ratio of 1.51 and a beta of 1.47. East West Bancorp has a 12-month low of $48.07 and a 12-month high of $67.61.

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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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