Analysts expect that East West Bancorp, Inc. (NASDAQ:EWBC) will post earnings per share of $0.81 for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for East West Bancorp’s earnings, with estimates ranging from $0.77 to $0.84. East West Bancorp posted earnings of $0.71 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.1%. The company is expected to announce its next earnings report on Wednesday, July 19th.
According to Zacks, analysts expect that East West Bancorp will report full year earnings of $3.44 per share for the current fiscal year, with EPS estimates ranging from $3.32 to $3.53. For the next fiscal year, analysts anticipate that the company will post earnings of $3.80 per share, with EPS estimates ranging from $3.67 to $4.02. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover East West Bancorp.
East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Wednesday, April 19th. The financial services provider reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.14. East West Bancorp had a return on equity of 13.09% and a net margin of 32.69%. The business had revenue of $388.15 million for the quarter, compared to analysts’ expectations of $314.52 million. During the same quarter in the previous year, the firm earned $0.71 earnings per share.
A number of analysts recently weighed in on the stock. Barclays PLC reaffirmed an “overweight” rating and set a $63.00 price target (up from $61.00) on shares of East West Bancorp in a research report on Sunday, April 23rd. Citigroup Inc cut shares of East West Bancorp to an “underperform” rating in a research report on Thursday, March 16th. They noted that the move was a valuation call. Piper Jaffray Companies decreased their price target on shares of East West Bancorp to $62.00 and set an “overweight” rating for the company in a research report on Monday, April 17th. Zacks Investment Research cut shares of East West Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, April 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $56.00 price target on shares of East West Bancorp in a research report on Wednesday, April 5th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $57.67.
In other East West Bancorp news, Director Jack C. Liu sold 1,248 shares of the company’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $55.00, for a total value of $68,640.00. Following the completion of the transaction, the director now directly owns 26,040 shares of the company’s stock, valued at approximately $1,432,200. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Douglas Paul Krause sold 15,000 shares of the company’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $54.39, for a total transaction of $815,850.00. Following the completion of the transaction, the insider now directly owns 41,856 shares of the company’s stock, valued at $2,276,547.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 181,084 shares of company stock valued at $9,558,441. 0.88% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Washington Trust Bank boosted its position in East West Bancorp by 3.7% in the first quarter. Washington Trust Bank now owns 2,380 shares of the financial services provider’s stock worth $123,000 after buying an additional 86 shares during the last quarter. CENTRAL TRUST Co purchased a new position in East West Bancorp during the first quarter worth $177,000. Seven Eight Capital LP purchased a new position in East West Bancorp during the fourth quarter worth $198,000. Smith Moore & CO. purchased a new position in East West Bancorp during the fourth quarter worth $209,000. Finally, Palouse Capital Management Inc. purchased a new position in East West Bancorp during the third quarter worth $211,000. 85.47% of the stock is owned by institutional investors.
East West Bancorp (NASDAQ:EWBC) traded down 2.78% during mid-day trading on Thursday, hitting $54.27. The stock had a trading volume of 1,077,966 shares. The stock has a market cap of $7.84 billion, a P/E ratio of 16.00 and a beta of 1.29. The company has a 50 day moving average price of $52.52 and a 200 day moving average price of $49.44. East West Bancorp has a one year low of $31.34 and a one year high of $57.24.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Monday, May 1st will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, April 27th. This represents a $0.80 dividend on an annualized basis and a yield of 1.47%. East West Bancorp’s payout ratio is currently 26.94%.
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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