East West Bancorp, Inc. Expected to Earn Q2 2024 Earnings of $1.98 Per Share (NASDAQ:EWBC)

East West Bancorp, Inc. (NASDAQ:EWBC) – Equities research analysts at DA Davidson issued their Q2 2024 earnings estimates for East West Bancorp in a note issued to investors on Thursday, April 25th. DA Davidson analyst G. Tenner anticipates that the financial services provider will post earnings of $1.98 per share for the quarter. The consensus estimate for East West Bancorp’s current full-year earnings is $7.92 per share. DA Davidson also issued estimates for East West Bancorp’s FY2024 earnings at $8.09 EPS and FY2025 earnings at $8.22 EPS.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.08. East West Bancorp had a net margin of 26.78% and a return on equity of 17.43%. The company had revenue of $644.13 million for the quarter, compared to analysts’ expectations of $636.77 million. During the same quarter last year, the company earned $2.32 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis.

EWBC has been the topic of a number of other research reports. Truist Financial cut their price objective on shares of East West Bancorp from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday. Morgan Stanley raised their price objective on shares of East West Bancorp from $76.00 to $89.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Barclays initiated coverage on shares of East West Bancorp in a report on Friday, March 8th. They set an “overweight” rating and a $106.00 price objective on the stock. Jefferies Financial Group raised their price objective on shares of East West Bancorp from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Stephens lifted their target price on shares of East West Bancorp from $85.00 to $86.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, East West Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $84.08.

East West Bancorp Stock Down 0.5 %

EWBC stock opened at $75.98 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.50. East West Bancorp has a twelve month low of $41.12 and a twelve month high of $79.54. The company’s 50 day moving average is $74.84 and its two-hundred day moving average is $68.57. The stock has a market cap of $10.57 billion, a P/E ratio of 9.57, a PEG ratio of 0.97 and a beta of 1.39.

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $2.20 annualized dividend and a yield of 2.90%. East West Bancorp’s dividend payout ratio is currently 27.71%.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, Director Molly Campbell sold 1,625 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the transaction, the director now directly owns 10,321 shares of the company’s stock, valued at approximately $797,400.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other East West Bancorp news, Director Molly Campbell sold 1,625 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the transaction, the director now directly owns 10,321 shares of the company’s stock, valued at approximately $797,400.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.58, for a total transaction of $147,160.00. Following the completion of the transaction, the director now directly owns 16,739 shares in the company, valued at $1,231,655.62. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On East West Bancorp

Several institutional investors have recently made changes to their positions in EWBC. CWM LLC boosted its position in shares of East West Bancorp by 22.8% during the 3rd quarter. CWM LLC now owns 1,825 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 339 shares in the last quarter. Palouse Capital Management Inc. boosted its position in shares of East West Bancorp by 21.2% during the 3rd quarter. Palouse Capital Management Inc. now owns 27,422 shares of the financial services provider’s stock worth $1,445,000 after purchasing an additional 4,795 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of East West Bancorp by 17.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,042 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 759 shares in the last quarter. JB Capital LLC purchased a new stake in shares of East West Bancorp during the 3rd quarter worth $765,000. Finally, Keeler THomas Management LLC boosted its position in shares of East West Bancorp by 5.9% during the 3rd quarter. Keeler THomas Management LLC now owns 74,362 shares of the financial services provider’s stock worth $3,977,000 after purchasing an additional 4,162 shares in the last quarter. 89.53% of the stock is currently owned by hedge funds and other 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.