East West Bancorp, Inc. (NASDAQ:EWBC – Free Report) – Zacks Research decreased their Q1 2024 EPS estimates for shares of East West Bancorp in a report issued on Wednesday, December 6th. Zacks Research analyst R. Department now anticipates that the financial services provider will earn $1.95 per share for the quarter, down from their previous forecast of $1.95. The consensus estimate for East West Bancorp’s current full-year earnings is $8.45 per share. Zacks Research also issued estimates for East West Bancorp’s Q2 2024 earnings at $1.88 EPS, Q4 2024 earnings at $1.92 EPS, Q1 2025 earnings at $1.95 EPS and Q2 2025 earnings at $2.05 EPS.
East West Bancorp (NASDAQ:EWBC – Get Free Report) last announced its earnings results on Thursday, October 19th. The financial services provider reported $2.02 earnings per share for the quarter, hitting the consensus estimate of $2.02. East West Bancorp had a net margin of 33.62% and a return on equity of 19.98%. The company had revenue of $648.00 million during the quarter, compared to analyst estimates of $643.22 million. During the same quarter last year, the firm posted $2.08 earnings per share. East West Bancorp’s revenue was up 3.3% compared to the same quarter last year.
Other equities analysts have also recently issued reports about the stock. Wedbush raised shares of East West Bancorp from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $57.00 to $69.00 in a research note on Friday, November 3rd. Morgan Stanley raised shares of East West Bancorp from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $66.00 to $76.00 in a research note on Monday, December 4th. Janney Montgomery Scott assumed coverage on shares of East West Bancorp in a research note on Tuesday, October 3rd. They set a “buy” rating and a $68.00 price target on the stock. Citigroup assumed coverage on shares of East West Bancorp in a research note on Friday, December 1st. They set a “buy” rating and a $75.00 price target on the stock. Finally, Jefferies Financial Group lowered their price target on shares of East West Bancorp from $68.00 to $58.00 in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, East West Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $71.64.
Read Our Latest Report on EWBC
East West Bancorp Stock Performance
Shares of East West Bancorp stock opened at $68.62 on Monday. The firm’s fifty day simple moving average is $57.13 and its 200-day simple moving average is $55.68. The stock has a market capitalization of $9.67 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 0.80 and a beta of 1.44. East West Bancorp has a 12 month low of $33.86 and a 12 month high of $80.98. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.91 and a quick ratio of 0.91.
East West Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.80%. The ex-dividend date was Tuesday, October 31st. East West Bancorp’s dividend payout ratio (DPR) is 21.67%.
Insider Transactions at East West Bancorp
In other news, Vice Chairman Douglas Paul Krause sold 12,000 shares of East West Bancorp stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $63.29, for a total value of $759,480.00. Following the transaction, the insider now owns 55,353 shares in the company, valued at $3,503,291.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $63.29, for a total transaction of $759,480.00. Following the completion of the sale, the insider now directly owns 55,353 shares in the company, valued at approximately $3,503,291.37. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Molly Campbell sold 4,500 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $62.16, for a total value of $279,720.00. Following the completion of the sale, the director now owns 11,946 shares of the company’s stock, valued at $742,563.36. The disclosure for this sale can be found here. Corporate insiders own 0.91% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in EWBC. First Horizon Advisors Inc. lifted its holdings in East West Bancorp by 65.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider’s stock worth $28,000 after buying an additional 211 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in shares of East West Bancorp during the fourth quarter worth about $53,000. Harbor Capital Advisors Inc. purchased a new stake in East West Bancorp in the second quarter valued at approximately $43,000. Archer Investment Corp purchased a new stake in East West Bancorp during the first quarter worth approximately $64,000. Finally, Tobam acquired a new position in shares of East West Bancorp during the second quarter worth $56,000. Hedge funds and other institutional investors own 87.11% 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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. It accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.
Featured Stories
Receive News & Ratings for East West Bancorp Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for East West Bancorp and related companies with MarketBeat.com’s FREE daily email newsletter.