Brokerages expect that East West Bancorp, Inc. (NASDAQ:EWBC) will post sales of $407.29 million for the current quarter, according to Zacks. Six analysts have issued estimates for East West Bancorp’s earnings. The highest sales estimate is $413.60 million and the lowest is $400.00 million. East West Bancorp reported sales of $365.06 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.6%. The company is expected to announce its next earnings results on Thursday, January 24th.
On average, analysts expect that East West Bancorp will report full-year sales of $1.58 billion for the current financial year, with estimates ranging from $1.56 billion to $1.60 billion. For the next year, analysts forecast that the business will report sales of $1.71 billion, with estimates ranging from $1.67 billion to $1.75 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow East West Bancorp.
East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Thursday, October 18th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.03. The business had revenue of $395.22 million during the quarter, compared to analysts’ expectations of $398.25 million. East West Bancorp had a net margin of 34.80% and a return on equity of 15.70%. During the same quarter last year, the company posted $0.91 EPS.
EWBC has been the subject of a number of recent analyst reports. DA Davidson upgraded shares of East West Bancorp from a “neutral” rating to a “buy” rating in a research report on Monday, October 22nd. Keefe, Bruyette & Woods upgraded shares of East West Bancorp from a “market perform” rating to an “outperform” rating and set a $41.00 target price for the company in a research report on Friday, July 20th. BMO Capital Markets dropped their target price on shares of East West Bancorp from $73.00 to $68.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. Zacks Investment Research upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Tuesday, September 18th. Finally, BidaskClub upgraded shares of East West Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 19th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $71.67.
A number of large investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in East West Bancorp by 2.1% during the 3rd quarter. BlackRock Inc. now owns 14,937,639 shares of the financial services provider’s stock worth $901,784,000 after acquiring an additional 305,805 shares during the last quarter. Boston Partners grew its holdings in East West Bancorp by 1.8% during the 2nd quarter. Boston Partners now owns 6,478,342 shares of the financial services provider’s stock worth $422,388,000 after acquiring an additional 115,315 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in East West Bancorp by 15.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,771,173 shares of the financial services provider’s stock worth $311,079,000 after acquiring an additional 627,329 shares during the last quarter. Jennison Associates LLC grew its holdings in East West Bancorp by 0.9% during the 2nd quarter. Jennison Associates LLC now owns 2,802,713 shares of the financial services provider’s stock worth $182,737,000 after acquiring an additional 25,720 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in East West Bancorp by 6.1% during the 2nd quarter. Bank of America Corp DE now owns 1,448,128 shares of the financial services provider’s stock worth $94,418,000 after acquiring an additional 83,674 shares during the last quarter. 87.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of East West Bancorp stock opened at $54.00 on Friday. The stock has a market cap of $7.94 billion, a P/E ratio of 15.61, a PEG ratio of 1.13 and a beta of 1.37. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.11. East West Bancorp has a 12-month low of $50.34 and a 12-month high of $73.98.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, October 31st. East West Bancorp’s dividend payout ratio is currently 26.59%.
East West Bancorp Company Profile
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.
See Also: Google Finance Portfolio Workaround
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
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.