SunTrust Banks Analysts Lift Earnings Estimates for East West Bancorp, Inc. (NASDAQ:EWBC)

East West Bancorp, Inc. (NASDAQ:EWBC) – Investment analysts at SunTrust Banks increased their Q1 2018 EPS estimates for shares of East West Bancorp in a research report issued on Thursday, Zacks Investment Research reports. SunTrust Banks analyst M. Young now anticipates that the financial services provider will earn $1.01 per share for the quarter, up from their prior estimate of $0.99. SunTrust Banks currently has a “Buy” rating and a $68.00 price target on the stock. SunTrust Banks also issued estimates for East West Bancorp’s Q2 2018 earnings at $1.07 EPS, Q3 2018 earnings at $1.14 EPS, Q4 2018 earnings at $1.16 EPS, FY2018 earnings at $4.38 EPS, Q1 2019 earnings at $1.13 EPS, Q2 2019 earnings at $1.17 EPS, Q3 2019 earnings at $1.26 EPS, Q4 2019 earnings at $1.26 EPS and FY2019 earnings at $4.82 EPS.

EWBC has been the subject of a number of other research reports. BMO Capital Markets boosted their price objective on East West Bancorp from $61.00 to $63.00 and gave the company a “market perform” rating in a research note on Friday, October 20th. Barclays set a $66.00 price objective on East West Bancorp and gave the company a “buy” rating in a research note on Friday, October 20th. Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Tuesday, October 24th. DA Davidson reiterated a “hold” rating and issued a $63.00 price objective on shares of East West Bancorp in a research note on Friday, October 20th. Finally, ValuEngine raised East West Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. East West Bancorp currently has an average rating of “Buy” and an average price target of $69.50.

Shares of East West Bancorp (NASDAQ EWBC) opened at $64.25 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.13. East West Bancorp has a 52 week low of $48.07 and a 52 week high of $69.25. The firm has a market capitalization of $9,276.76, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 1.39 and a beta of 1.45.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.87 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.04). East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. The firm had revenue of $365.06 million during the quarter, compared to analysts’ expectations of $359.43 million. During the same quarter in the prior year, the firm posted $0.76 EPS. East West Bancorp’s quarterly revenue was up 13.5% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, February 5th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Friday, February 2nd. East West Bancorp’s payout ratio is currently 23.12%.

In related news, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $68.50, for a total transaction of $137,000.00. Following the transaction, the director now owns 21,599 shares of the company’s stock, valued at $1,479,531.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jack C. Liu sold 2,200 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $58.07, for a total value of $127,754.00. Following the transaction, the director now directly owns 23,599 shares in the company, valued at approximately $1,370,393.93. The disclosure for this sale can be found here. In the last three months, insiders sold 11,200 shares of company stock worth $704,434. Corporate insiders own 0.88% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. D.A. Davidson & CO. grew its holdings in East West Bancorp by 1.0% during the second 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. Cetera Investment Advisers grew its holdings in East West Bancorp by 5.8% during the second quarter. Cetera Investment Advisers now owns 4,827 shares of the financial services provider’s stock worth $284,000 after acquiring an additional 266 shares during the period. Advisor Group Inc. grew its holdings in East West Bancorp by 14.0% during the second quarter. Advisor Group Inc. now owns 4,247 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 523 shares during the period. Stifel Financial Corp grew its holdings in East West Bancorp by 4.1% in the second quarter. Stifel Financial Corp now owns 16,173 shares of the financial services provider’s stock valued at $945,000 after purchasing an additional 633 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in East West Bancorp by 1.7% in the second quarter. Ameritas Investment Partners Inc. now owns 43,237 shares of the financial services provider’s stock valued at $2,533,000 after purchasing an additional 738 shares during the last quarter. 90.90% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: “SunTrust Banks Analysts Lift Earnings Estimates for East West Bancorp, Inc. (NASDAQ:EWBC)” was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this story can be read at https://www.dispatchtribunal.com/2018/02/13/brokers-issue-forecasts-for-east-west-bancorp-inc-s-q1-2018-earnings-ewbc.html.

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.

Get a free copy of the Zacks research report on East West Bancorp (EWBC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for East West Bancorp (NASDAQ:EWBC)

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.

Leave a Reply