East West Bancorp, Inc. (NASDAQ:EWBC) – Research analysts at SunTrust Banks reduced their Q4 2017 earnings per share (EPS) estimates for East West Bancorp in a report issued on Monday, Zacks Investment Research reports. SunTrust Banks analyst M. Young now anticipates that the financial services provider will post earnings of $0.88 per share for the quarter, down from their prior forecast of $0.94. SunTrust Banks has a “Buy” rating and a $65.00 price objective on the stock. SunTrust Banks also issued estimates for East West Bancorp’s Q1 2018 earnings at $0.90 EPS, Q3 2018 earnings at $0.99 EPS, Q4 2018 earnings at $1.03 EPS, FY2018 earnings at $3.85 EPS and FY2019 earnings at $4.17 EPS.
East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, October 19th. The financial services provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.86 by $0.03. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The business had revenue of $348.97 million for the quarter, compared to the consensus estimate of $349.28 million. During the same period last year, the business posted $0.76 EPS. The company’s revenue was up 15.0% on a year-over-year basis. ILLEGAL ACTIVITY WARNING: “Q4 2017 EPS Estimates for East West Bancorp, Inc. Cut by SunTrust Banks (EWBC)” was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another domain, it was stolen and republished in violation of international copyright and trademark legislation. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2017/11/12/analysts-issue-forecasts-for-east-west-bancorp-inc-s-q4-2017-earnings-ewbc.html.
Several other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded East West Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Piper Jaffray Companies set a $74.00 price objective on East West Bancorp and gave the stock a “buy” rating in a report on Saturday, October 21st. Morgan Stanley restated an “equal weight” rating and set a $63.00 price objective (up from $61.00) on shares of East West Bancorp in a report on Wednesday, October 4th. Wedbush restated an “outperform” rating and set a $66.00 price objective (down from $68.00) on shares of East West Bancorp in a report on Friday, October 20th. Finally, Raymond James Financial, Inc. upgraded East West Bancorp from an “underperform” rating to a “market perform” rating in a report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. East West Bancorp has an average rating of “Hold” and an average target price of $64.60.
Shares of East West Bancorp (NASDAQ:EWBC) opened at $56.66 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.13. East West Bancorp has a twelve month low of $43.09 and a twelve month high of $61.90. The stock has a market capitalization of $8,205.70, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 1.55 and a beta of 1.47.
Hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank acquired a new position in East West Bancorp during the 2nd quarter worth $104,000. Strs Ohio acquired a new position in East West Bancorp during the 2nd quarter worth $110,000. San Francisco Sentry Investment Group CA acquired a new position in East West Bancorp during the 2nd quarter worth $138,000. D.A. Davidson & CO. boosted its position in East West Bancorp by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 26 shares during the period. Finally, Americafirst Capital Management LLC acquired a new position in East West Bancorp during the 2nd quarter worth $149,000. Institutional investors own 90.74% of the company’s stock.
In related news, Director Herman Y. Li sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $61.00, for a total transaction of $610,000.00. Following the completion of the transaction, the director now owns 40,130 shares in the company, valued at approximately $2,447,930. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rudolph Estrada sold 1,916 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $55.97, for a total value of $107,238.52. Following the transaction, the director now owns 15,475 shares of the company’s stock, valued at approximately $866,135.75. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.41%. East West Bancorp’s dividend payout ratio is currently 21.98%.
About East West Bancorp
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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