East West Bancorp, Inc. (NASDAQ:EWBC) – Investment analysts at Wedbush lowered their FY2019 EPS estimates for shares of East West Bancorp in a research note issued on Tuesday, November 5th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings of $4.85 per share for the year, down from their prior forecast of $4.88. Wedbush currently has a “Outperform” rating and a $51.00 target price on the stock. Wedbush also issued estimates for East West Bancorp’s Q4 2019 earnings at $1.27 EPS and FY2020 earnings at $4.55 EPS.
Other equities research analysts have also issued reports about the company. BidaskClub upgraded East West Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. BMO Capital Markets lowered East West Bancorp from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $51.00 to $44.00 in a report on Monday, August 19th. Morgan Stanley reduced their target price on East West Bancorp from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Raymond James lowered East West Bancorp from a “market perform” rating to an “underperform” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Co reduced their target price on East West Bancorp from $60.00 to $57.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. East West Bancorp currently has a consensus rating of “Hold” and an average target price of $53.43.
EWBC traded down $0.01 on Friday, hitting $45.96. The company had a trading volume of 22,994 shares, compared to its average volume of 1,350,745. The company’s fifty day moving average price is $43.47 and its 200 day moving average price is $44.86. East West Bancorp has a 1-year low of $37.69 and a 1-year high of $56.09. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 0.96 and a beta of 1.66.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.03). East West Bancorp had a net margin of 31.98% and a return on equity of 14.90%. The firm had revenue of $421.28 million during the quarter, compared to the consensus estimate of $418.32 million. During the same period in the previous year, the firm posted $1.17 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.39%. East West Bancorp’s dividend payout ratio (DPR) is presently 23.61%.
In other East West Bancorp news, EVP Catherine Zhou purchased 2,512 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $39.82 per share, for a total transaction of $100,027.84. Following the completion of the acquisition, the executive vice president now directly owns 2,512 shares in the company, valued at $100,027.84. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul H. Irving purchased 1,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $38.69 per share, with a total value of $38,690.00. Following the completion of the acquisition, the director now owns 30,268 shares of the company’s stock, valued at $1,171,068.92. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 38,052 shares of company stock valued at $1,478,330. Corporate insiders own 0.61% of the company’s stock.
Several hedge funds have recently modified their holdings of EWBC. BBVA USA Bancshares Inc. bought a new stake in shares of East West Bancorp during the third quarter valued at approximately $201,000. Massachusetts Financial Services Co. MA increased its position in shares of East West Bancorp by 4.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 151,514 shares of the financial services provider’s stock valued at $6,711,000 after purchasing an additional 6,945 shares during the period. First Trust Advisors LP grew its holdings in shares of East West Bancorp by 14.9% during the third quarter. First Trust Advisors LP now owns 391,163 shares of the financial services provider’s stock worth $17,325,000 after purchasing an additional 50,694 shares during the last quarter. Huntington National Bank grew its holdings in shares of East West Bancorp by 80.3% during the third quarter. Huntington National Bank now owns 2,407 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 1,072 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of East West Bancorp by 768.1% during the third quarter. Parallel Advisors LLC now owns 816 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 722 shares during the last quarter. Institutional investors own 87.99% of the company’s stock.
East West Bancorp Company Profile
East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.
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