East West Bancorp, Inc. (NASDAQ:EWBC – Get Rating) – Stock analysts at Jefferies Financial Group lifted their Q1 2023 earnings per share estimates for East West Bancorp in a research report issued on Friday, April 22nd. Jefferies Financial Group analyst C. Haire now anticipates that the financial services provider will post earnings per share of $2.03 for the quarter, up from their previous estimate of $2.02. Jefferies Financial Group also issued estimates for East West Bancorp’s Q2 2023 earnings at $2.12 EPS, Q4 2023 earnings at $2.22 EPS and FY2023 earnings at $8.50 EPS.
East West Bancorp (NASDAQ:EWBC – Get Rating) last issued its quarterly earnings data on Thursday, April 21st. The financial services provider reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.14. East West Bancorp had a net margin of 46.15% and a return on equity of 15.90%. The firm had revenue of $495.00 million for the quarter, compared to analyst estimates of $478.35 million. During the same quarter last year, the firm earned $1.44 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis.
Shares of EWBC stock opened at $77.64 on Monday. East West Bancorp has a 12 month low of $65.87 and a 12 month high of $93.51. The company has a quick ratio of 0.88, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $80.73 and its two-hundred day moving average is $81.95. The company has a market cap of $11.04 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.17 and a beta of 1.59.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 16th. Investors of record on Monday, May 2nd will be given a $0.40 dividend. The ex-dividend date is Friday, April 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.06%. East West Bancorp’s payout ratio is 25.32%.
In related news, Director Jack C. Liu sold 1,600 shares of the business’s stock in a transaction that occurred on Thursday, February 10th. The stock was sold at an average price of $91.51, for a total value of $146,416.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rudolph Estrada sold 1,111 shares of the business’s stock in a transaction that occurred on Tuesday, February 8th. The shares were sold at an average price of $89.97, for a total value of $99,956.67. The disclosure for this sale can be found here. 0.78% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its holdings in East West Bancorp by 1.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 37,200 shares of the financial services provider’s stock valued at $2,997,000 after buying an additional 700 shares in the last quarter. Naviter Wealth LLC grew its holdings in shares of East West Bancorp by 4.6% during the 1st quarter. Naviter Wealth LLC now owns 44,735 shares of the financial services provider’s stock worth $3,535,000 after purchasing an additional 1,952 shares in the last quarter. Strs Ohio acquired a new stake in shares of East West Bancorp during the 1st quarter worth $1,092,000. Asset Dedication LLC acquired a new stake in shares of East West Bancorp during the 1st quarter worth $113,000. Finally, Inspire Investing LLC acquired a new stake in shares of East West Bancorp during the 1st quarter worth $1,452,000. Institutional investors own 89.55% of the company’s stock.
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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