Wall Street brokerages expect East West Bancorp, Inc. (NASDAQ:EWBC) to report $1.16 earnings per share for the current quarter, Zacks reports. Six analysts have made estimates for East West Bancorp’s earnings, with the highest EPS estimate coming in at $1.20 and the lowest estimate coming in at $1.12. East West Bancorp posted earnings of $0.87 per share in the same quarter last year, which suggests a positive year over year growth rate of 33.3%. The business is scheduled to issue its next earnings results on Thursday, January 24th.
On average, analysts expect that East West Bancorp will report full year earnings of $4.79 per share for the current year, with EPS estimates ranging from $4.75 to $4.84. For the next financial year, analysts forecast that the business will post earnings of $5.10 per share, with EPS estimates ranging from $4.91 to $5.25. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow East West Bancorp.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.03. The firm had revenue of $395.22 million during the quarter, compared to analysts’ expectations of $398.25 million. East West Bancorp had a net margin of 34.80% and a return on equity of 15.70%. During the same period in the prior year, the company posted $0.91 earnings per share.
A number of brokerages have issued reports on EWBC. 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 Tuesday, September 18th. DA Davidson raised shares of East West Bancorp from a “neutral” rating to a “buy” rating in a report on Tuesday, November 27th. ValuEngine cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. BMO Capital Markets dropped their target price on shares of East West Bancorp from $73.00 to $68.00 and set an “outperform” rating for the company in a report on Friday, October 19th. Finally, Wells Fargo & Co set a $76.00 target price on shares of East West Bancorp and gave the company a “buy” rating in a report on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. East West Bancorp currently has a consensus rating of “Hold” and a consensus target price of $72.00.
Institutional investors have recently modified their holdings of the business. SRS Capital Advisors Inc. purchased a new position in shares of East West Bancorp during the 3rd quarter worth approximately $100,000. Itau Unibanco Holding S.A. purchased a new position in shares of East West Bancorp during the 2nd quarter worth approximately $108,000. National Pension Service increased its stake in shares of East West Bancorp by 138.4% during the 3rd quarter. National Pension Service now owns 2,148 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 1,247 shares in the last quarter. First Hawaiian Bank purchased a new position in shares of East West Bancorp during the 3rd quarter worth approximately $169,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of East West Bancorp during the 3rd quarter worth approximately $202,000. 87.86% of the stock is owned by institutional investors.
East West Bancorp stock traded down $1.03 during mid-day trading on Friday, reaching $48.17. The company had a trading volume of 1,372,791 shares, compared to its average volume of 798,781. East West Bancorp has a 1 year low of $47.82 and a 1 year high of $73.98. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11. The stock has a market cap of $6.98 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 0.99 and a beta of 1.38.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $0.92 dividend on an annualized basis and a yield of 1.91%. East West Bancorp’s dividend payout ratio (DPR) is presently 26.59%.
About East West Bancorp
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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.
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