East West Bancorp, Inc. (NASDAQ:EWBC) released its earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03, RTT News reports. The firm had revenue of $348.97 million during the quarter, compared to the consensus estimate of $349.28 million. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. During the same period in the prior year, the company posted $0.76 EPS. The company’s revenue was up 15.0% compared to the same quarter last year.
East West Bancorp (NASDAQ:EWBC) traded down 0.05% on Friday, hitting $61.19. The stock had a trading volume of 1,312,701 shares. The company has a market cap of $8.84 billion, a P/E ratio of 17.48 and a beta of 1.46. East West Bancorp has a 1-year low of $38.13 and a 1-year high of $61.90. The stock has a 50 day moving average price of $58.45 and a 200 day moving average price of $56.66.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $0.80 annualized dividend and a yield of 1.31%. East West Bancorp’s payout ratio is currently 21.98%.
In other news, Director Herman Y. Li sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $61.00, for a total value of $610,000.00. Following the completion of the sale, the director now owns 40,130 shares of the company’s stock, valued at approximately $2,447,930. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rudolph Estrada sold 1,916 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $55.97, for a total transaction of $107,238.52. Following the completion of the sale, the director now directly owns 15,475 shares of the company’s stock, valued at approximately $866,135.75. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.
EWBC has been the subject of several recent analyst reports. Zacks Investment Research upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, October 6th. Deutsche Bank AG downgraded East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 target price for the company. in a research report on Friday, July 14th. BMO Capital Markets reiterated a “hold” rating and issued a $61.00 target price on shares of East West Bancorp in a research report on Thursday, October 5th. Barclays PLC set a $66.00 target price on East West Bancorp and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, BidaskClub downgraded East West Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $64.60.
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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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