East West Bancorp, Inc. (NASDAQ:EWBC) – Investment analysts at DA Davidson raised their Q1 2018 earnings estimates for shares of East West Bancorp in a research report issued on Thursday. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings per share of $1.00 for the quarter, up from their previous estimate of $0.90. 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 $1.11 EPS, Q3 2018 earnings at $1.13 EPS, Q4 2018 earnings at $1.16 EPS and FY2019 earnings at $4.99 EPS.
Several other brokerages have also recently issued reports on EWBC. Barclays lifted their target price on shares of East West Bancorp from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday. Sandler O’Neill reaffirmed a “buy” rating and issued a $76.00 target price on shares of East West Bancorp in a report on Friday. BMO Capital Markets lifted their target price on shares of East West Bancorp to $74.00 and gave the stock a “market perform” rating in a report on Friday. BidaskClub raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Zacks Investment Research raised 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 report on Monday, January 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $69.42.
East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Thursday, January 25th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.04). The firm had revenue of $365.06 million during the quarter, compared to analysts’ expectations of $359.43 million. East West Bancorp had a return on equity of 13.56% and a net margin of 31.93%. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period last year, the firm posted $0.76 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, February 5th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. East West Bancorp’s dividend payout ratio is presently 23.05%.
In other 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 value 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas Paul Krause sold 5,000 shares of East West Bancorp stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $61.26, for a total transaction of $306,300.00. Following the completion of 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 own 0.88% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. D.A. Davidson & CO. grew its stake in shares of East West Bancorp by 1.0% in the second quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 26 shares during the period. Cetera Investment Advisers grew its position in East West Bancorp by 5.8% during the second quarter. Cetera Investment Advisers now owns 4,827 shares of the financial services provider’s stock valued at $284,000 after buying an additional 266 shares during the period. Advisor Group Inc. grew its position in East West Bancorp by 14.0% during the second quarter. Advisor Group Inc. now owns 4,247 shares of the financial services provider’s stock valued at $228,000 after buying an additional 523 shares during the period. Stifel Financial Corp grew its position in East West Bancorp by 4.1% during the second quarter. Stifel Financial Corp now owns 16,173 shares of the financial services provider’s stock valued at $945,000 after buying an additional 633 shares during the period. Finally, Ameritas Investment Partners Inc. grew its position in East West Bancorp by 1.7% during the second quarter. Ameritas Investment Partners Inc. now owns 43,237 shares of the financial services provider’s stock valued at $2,533,000 after buying an additional 738 shares during the period. Hedge funds and other institutional investors own 91.32% 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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