Wall Street brokerages forecast that East West Bancorp, Inc. (NASDAQ:EWBC) will announce earnings of $1.16 per share for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for East West Bancorp’s earnings, with the lowest EPS estimate coming in at $1.12 and the highest estimate coming in at $1.20. East West Bancorp posted earnings per share of $0.87 in the same quarter last year, which indicates a positive year-over-year growth rate of 33.3%. The business is expected to issue its next earnings results on Thursday, January 24th.
According to Zacks, analysts expect that East West Bancorp will report full year earnings of $4.79 per share for the current year, with EPS estimates ranging from $4.75 to $4.84. For the next financial year, analysts expect that the company will report earnings of $5.10 per share, with EPS estimates ranging from $4.91 to $5.25. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow East West Bancorp.
East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, October 18th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.03. East West Bancorp had a return on equity of 15.70% and a net margin of 34.80%. The company had revenue of $395.22 million during the quarter, compared to the consensus estimate of $398.25 million. During the same period last year, the company earned $0.91 earnings per share.
A number of brokerages have recently issued reports on EWBC. BMO Capital Markets lowered their price objective on 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. ValuEngine downgraded East West Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Tuesday, September 18th. BidaskClub downgraded East West Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 9th. Finally, Wells Fargo & Co set a $76.00 price objective on East West Bancorp and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $72.00.
Shares of EWBC traded down $0.63 during mid-day trading on Friday, reaching $48.57. 26,089 shares of the company were exchanged, compared to its average volume of 741,163. East West Bancorp has a 52 week low of $48.01 and a 52 week high of $73.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 1.04 and a beta of 1.38.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $0.92 dividend on an annualized basis and a yield of 1.89%. East West Bancorp’s payout ratio is currently 26.59%.
A number of hedge funds have recently modified their holdings of EWBC. SRS Capital Advisors Inc. bought a new stake in East West Bancorp in the third quarter worth approximately $100,000. Itau Unibanco Holding S.A. bought a new stake in East West Bancorp in the second quarter worth approximately $108,000. National Pension Service increased its holdings in East West Bancorp by 138.4% in the third quarter. National Pension Service now owns 2,148 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 1,247 shares in the last quarter. First Hawaiian Bank bought a new stake in East West Bancorp in the third quarter worth approximately $169,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in East West Bancorp in the third quarter worth approximately $202,000. Institutional investors and hedge funds own 87.86% of the company’s stock.
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.
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