East West Bancorp, Inc. (NASDAQ:EWBC – Get Rating) – Investment analysts at Jefferies Financial Group raised their Q3 2022 earnings estimates for East West Bancorp in a research note issued to investors on Monday, April 11th. Jefferies Financial Group analyst C. Haire now expects that the financial services provider will post earnings per share of $1.95 for the quarter, up from their prior estimate of $1.68. Jefferies Financial Group also issued estimates for East West Bancorp’s Q4 2022 earnings at $2.08 EPS, FY2022 earnings at $7.30 EPS, Q1 2023 earnings at $2.02 EPS, Q2 2023 earnings at $2.11 EPS and FY2023 earnings at $8.45 EPS.
East West Bancorp (NASDAQ:EWBC – Get Rating) last posted its earnings results on Thursday, January 27th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.03). East West Bancorp had a net margin of 45.83% and a return on equity of 15.62%. The company had revenue of $477.19 million during the quarter, compared to analysts’ expectations of $470.95 million. During the same period in the previous year, the company posted $1.15 EPS.
Shares of NASDAQ EWBC opened at $76.25 on Wednesday. East West Bancorp has a 12-month low of $65.87 and a 12-month high of $93.51. The company has a market cap of $10.82 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.14 and a beta of 1.59. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average price of $82.45 and a 200 day moving average price of $81.98.
Large investors have recently modified their holdings of the business. National Bank of Canada FI acquired a new stake in shares of East West Bancorp in the 4th quarter valued at $35,000. O Shaughnessy Asset Management LLC boosted its position in East West Bancorp by 266.2% during the third quarter. O Shaughnessy Asset Management LLC now owns 520 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 378 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC acquired a new position in East West Bancorp during the first quarter valued at approximately $40,000. Neo Ivy Capital Management bought a new position in shares of East West Bancorp in the fourth quarter valued at approximately $40,000. Finally, Manchester Capital Management LLC acquired a new stake in shares of East West Bancorp in the third quarter worth $52,000. 89.55% of the stock is owned by institutional investors.
In related news, Director Jack C. Liu sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, February 10th. The shares were sold at an average price of $91.51, for a total value of $146,416.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rudolph Estrada sold 1,111 shares of the firm’s stock in a transaction that occurred on Tuesday, February 8th. The stock was sold at an average price of $89.97, for a total transaction of $99,956.67. The disclosure for this sale can be found here. 0.78% of the stock is owned by company insiders.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 22nd. Investors of record on Monday, February 7th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, February 4th. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.33. East West Bancorp’s dividend payout ratio (DPR) is currently 26.23%.
About East West Bancorp (Get Rating)
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. It operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. The company accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.
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