East West Bancorp (NASDAQ:EWBC) Announces Earnings Results

East West Bancorp (NASDAQ:EWBC) posted its earnings results on Wednesday. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.18, MarketWatch Earnings reports. The firm had revenue of $426.56 million during the quarter, compared to analyst estimates of $407.91 million. East West Bancorp had a net margin of 31.05% and a return on equity of 11.80%. East West Bancorp’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.00 EPS.

East West Bancorp stock opened at $73.42 on Friday. The company’s 50 day simple moving average is $74.99 and its 200 day simple moving average is $57.27. East West Bancorp has a fifty-two week low of $28.01 and a fifty-two week high of $82.53. The firm has a market capitalization of $10.41 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.53 and a beta of 1.98. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.01 and a quick ratio of 1.01.

The company also recently disclosed a dividend, which will be paid on Monday, May 17th. Investors of record on Monday, May 3rd will be paid a dividend of $0.33 per share. This represents a yield of 1.78%. The ex-dividend date is Friday, April 30th. East West Bancorp’s payout ratio is 27.27%.

A number of analysts recently commented on EWBC shares. Morgan Stanley boosted their target price on shares of East West Bancorp from $79.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, March 24th. Zacks Investment Research upgraded shares of East West Bancorp from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Tuesday, January 5th. UBS Group upgraded shares of East West Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the company from $39.00 to $71.00 in a report on Friday, January 8th. Jefferies Financial Group began coverage on shares of East West Bancorp in a report on Monday, March 22nd. They set a “buy” rating and a $89.00 price target on the stock. Finally, DA Davidson upgraded shares of East West Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the company from $62.50 to $87.00 in a report on Tuesday, March 30th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $89.38.

In other news, Director Jack C. Liu sold 1,036 shares of East West Bancorp stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $77.00, for a total value of $79,772.00. Also, Director Rudolph Estrada sold 1,364 shares of East West Bancorp stock in a transaction that occurred on Thursday, February 11th. The shares were sold at an average price of $66.06, for a total transaction of $90,105.84. Following the completion of the sale, the director now owns 17,371 shares in the company, valued at $1,147,528.26. The disclosure for this sale can be found here. Insiders have sold a total of 4,400 shares of company stock worth $295,098 in the last three months. 0.72% of the stock is owned by insiders.

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 businesses and individuals in the United States and Greater China. It operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.

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Earnings History for East West Bancorp (NASDAQ:EWBC)

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