FY2024 Earnings Forecast for East West Bancorp, Inc. (NASDAQ:EWBC) Issued By DA Davidson

East West Bancorp, Inc. (NASDAQ:EWBC) – Research analysts at DA Davidson cut their FY2024 earnings per share (EPS) estimates for shares of East West Bancorp in a research note issued on Wednesday, April 17th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will earn $8.21 per share for the year, down from their prior forecast of $8.28. The consensus estimate for East West Bancorp’s current full-year earnings is $7.87 per share. DA Davidson also issued estimates for East West Bancorp’s FY2025 earnings at $8.34 EPS.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. East West Bancorp had a return on equity of 18.47% and a net margin of 29.11%. The firm had revenue of $654.70 million for the quarter, compared to analysts’ expectations of $641.91 million. During the same quarter in the prior year, the firm earned $2.37 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year.

EWBC has been the topic of a number of other research reports. Barclays initiated coverage on East West Bancorp in a research report on Friday, March 8th. They set an “overweight” rating and a $106.00 price target on the stock. Compass Point increased their price objective on East West Bancorp from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Citigroup increased their price objective on East West Bancorp from $85.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Jefferies Financial Group increased their price objective on East West Bancorp from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Piper Sandler increased their price objective on East West Bancorp from $72.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.15.

East West Bancorp Stock Up 0.3 %

Shares of NASDAQ EWBC opened at $71.56 on Thursday. East West Bancorp has a one year low of $41.12 and a one year high of $79.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.91 and a quick ratio of 0.91. The business’s fifty day moving average price is $74.29 and its 200-day moving average price is $67.52. The stock has a market capitalization of $9.96 billion, a PE ratio of 8.75, a P/E/G ratio of 0.92 and a beta of 1.39.

East West Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Friday, February 2nd were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, February 1st. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.48. This represents a $2.20 annualized dividend and a dividend yield of 3.07%. East West Bancorp’s dividend payout ratio is 26.89%.

Insider Activity

In related news, Director Molly Campbell sold 1,625 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total transaction of $125,547.50. Following the transaction, the director now directly owns 10,321 shares in the company, valued at approximately $797,400.46. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total value of $147,160.00. Following the sale, the director now directly owns 16,739 shares in the company, valued at approximately $1,231,655.62. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Molly Campbell sold 1,625 shares of East West Bancorp stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the sale, the director now owns 10,321 shares in the company, valued at $797,400.46. The disclosure for this sale can be found here. Corporate insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

A number of large investors have recently made changes to their positions in the business. Captrust Financial Advisors grew its position in shares of East West Bancorp by 6.2% in the 1st quarter. Captrust Financial Advisors now owns 2,776 shares of the financial services provider’s stock worth $219,000 after buying an additional 162 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of East West Bancorp by 5.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,751 shares of the financial services provider’s stock worth $198,000 after buying an additional 177 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of East West Bancorp by 29.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 840 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 190 shares during the period. Deutsche Bank AG lifted its stake in shares of East West Bancorp by 0.3% in the 4th quarter. Deutsche Bank AG now owns 69,647 shares of the financial services provider’s stock valued at $4,590,000 after purchasing an additional 198 shares during the period. Finally, Denali Advisors LLC lifted its stake in shares of East West Bancorp by 66.7% in the 4th quarter. Denali Advisors LLC now owns 500 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 200 shares during the period. 89.53% of the stock is currently owned by institutional investors.

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 businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.