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.
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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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