Equities analysts expect East West Bancorp (NASDAQ:EWBC) to report sales of $383.00 million for the current fiscal quarter, Zacks reports. Six analysts have made estimates for East West Bancorp’s earnings, with estimates ranging from $377.60 million to $385.20 million. East West Bancorp posted sales of $337.49 million during the same quarter last year, which suggests a positive year over year growth rate of 13.5%. The business is scheduled to report its next quarterly earnings results on Thursday, July 19th.
On average, analysts expect that East West Bancorp will report full year sales of $1.58 billion for the current year, with estimates ranging from $1.55 billion to $1.61 billion. For the next year, analysts expect that the company will post sales of $1.73 billion per share, with estimates ranging from $1.66 billion to $1.78 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover East West Bancorp.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Thursday, April 19th. The financial services provider reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.13. East West Bancorp had a return on equity of 14.15% and a net margin of 32.46%. The company had revenue of $401.14 million during the quarter, compared to analyst estimates of $364.81 million. During the same quarter last year, the company earned $0.88 EPS.
A number of research firms recently weighed in on EWBC. Barclays raised their price objective on East West Bancorp from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. BidaskClub lowered East West Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, March 16th. UBS began coverage on East West Bancorp in a research report on Thursday, March 22nd. They set a “buy” rating and a $77.00 price objective for the company. Morgan Stanley raised their price objective on East West Bancorp from $70.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 24th. Finally, BMO Capital Markets raised their price objective on East West Bancorp to $74.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $72.23.
East West Bancorp traded up $0.51, reaching $71.86, on Tuesday, Marketbeat Ratings reports. 518,800 shares of the company traded hands, compared to its average volume of 917,704. East West Bancorp has a one year low of $52.86 and a one year high of $72.72. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The firm has a market cap of $10.21 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.49 and a beta of 1.42.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 1st were paid a dividend of $0.20 per share. The ex-dividend date was Monday, April 30th. This represents a $0.80 annualized dividend and a yield of 1.11%. East West Bancorp’s dividend payout ratio is 23.12%.
In other East West Bancorp news, CFO Irene H. Oh sold 5,000 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $68.29, for a total transaction of $341,450.00. Following the sale, the chief financial officer now directly owns 38,021 shares in the company, valued at approximately $2,596,454.09. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Molly Campbell sold 461 shares of the stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $65.11, for a total value of $30,015.71. Following the sale, the director now owns 5,448 shares in the company, valued at $354,719.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,871 shares of company stock worth $4,545,179. Company insiders own 0.68% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. YHB Investment Advisors Inc. purchased a new position in shares of East West Bancorp in the 4th quarter worth $217,000. National Pension Service purchased a new position in shares of East West Bancorp in the 4th quarter worth $116,000. Schwab Charles Investment Management Inc. boosted its stake in shares of East West Bancorp by 4.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 623,969 shares of the financial services provider’s stock worth $37,957,000 after buying an additional 25,618 shares during the last quarter. Oakbrook Investments LLC boosted its stake in shares of East West Bancorp by 15.9% in the 4th quarter. Oakbrook Investments LLC now owns 11,810 shares of the financial services provider’s stock worth $718,000 after buying an additional 1,620 shares during the last quarter. Finally, Contravisory Investment Management Inc. purchased a new position in shares of East West Bancorp in the 4th quarter worth $129,000. Institutional investors and hedge funds own 89.50% of the company’s stock.
About East West Bancorp
East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.
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