Wall Street brokerages expect East West Bancorp, Inc. (NASDAQ:EWBC) to report sales of $364.81 million for the current quarter, according to Zacks. Five analysts have issued estimates for East West Bancorp’s earnings, with the highest sales estimate coming in at $366.70 million and the lowest estimate coming in at $362.00 million. East West Bancorp reported sales of $388.15 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 6%. The business is scheduled to report its next quarterly earnings results on Wednesday, April 18th.
On average, analysts expect that East West Bancorp will report full year sales of $364.81 million for the current financial year, with estimates ranging from $1.53 billion to $1.56 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.71 billion per share, with estimates ranging from $1.66 billion to $1.77 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover East West Bancorp.
East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.04). The company had revenue of $365.06 million for the quarter, compared to analysts’ expectations of $359.43 million. East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. East West Bancorp’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 earnings per share.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of East West Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. BidaskClub upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Deutsche Bank upgraded East West Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, February 6th. ValuEngine upgraded East West Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Morgan Stanley upped their price objective on East West Bancorp from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $69.50.
In other East West Bancorp news, Director Jack C. Liu sold 2,200 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $58.07, for a total transaction of $127,754.00. Following the completion of the transaction, the director now owns 23,599 shares of the company’s stock, valued at approximately $1,370,393.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas Paul Krause sold 5,000 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $61.26, for a total transaction of $306,300.00. Following the transaction, the insider now directly owns 18,015 shares of the company’s stock, valued at approximately $1,103,598.90. The disclosure for this sale can be found here. Insiders have sold a total of 11,200 shares of company stock valued at $704,434 in the last three months. Insiders own 0.88% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of East West Bancorp by 1.5% in the 4th quarter. BlackRock Inc. now owns 13,767,215 shares of the financial services provider’s stock valued at $837,459,000 after acquiring an additional 199,886 shares during the last quarter. Boston Partners lifted its holdings in shares of East West Bancorp by 3.2% in the 4th quarter. Boston Partners now owns 6,828,822 shares of the financial services provider’s stock valued at $415,397,000 after acquiring an additional 209,514 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in shares of East West Bancorp by 4.2% in the 3rd quarter. Macquarie Group Ltd. now owns 4,440,696 shares of the financial services provider’s stock valued at $265,465,000 after acquiring an additional 178,496 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of East West Bancorp by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,395,572 shares of the financial services provider’s stock valued at $260,261,000 after acquiring an additional 62,345 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of East West Bancorp by 2.1% in the 3rd quarter. Principal Financial Group Inc. now owns 3,012,281 shares of the financial services provider’s stock valued at $180,074,000 after acquiring an additional 60,965 shares during the last quarter. 91.11% of the stock is owned by institutional investors and hedge funds.
Shares of East West Bancorp (NASDAQ:EWBC) traded up $1.01 on Monday, reaching $67.39. 471,900 shares of the company’s stock were exchanged, compared to its average volume of 818,872. The stock has a market cap of $9,594.76, a price-to-earnings ratio of 19.48, a PEG ratio of 1.44 and a beta of 1.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.00 and a current ratio of 1.00. East West Bancorp has a 1-year low of $48.07 and a 1-year high of $69.25.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.19%. The ex-dividend date was Friday, February 2nd. East West Bancorp’s dividend payout ratio is currently 23.12%.
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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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