Analysts predict that East West Bancorp, Inc. (NASDAQ:EWBC – Get Rating) will report $519.53 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for East West Bancorp’s earnings, with estimates ranging from $516.00 million to $526.00 million. East West Bancorp reported sales of $444.90 million in the same quarter last year, which indicates a positive year over year growth rate of 16.8%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that East West Bancorp will report full-year sales of $2.12 billion for the current fiscal year, with estimates ranging from $1.99 billion to $2.17 billion. For the next year, analysts forecast that the company will post sales of $2.47 billion, with estimates ranging from $2.27 billion to $2.64 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for East West Bancorp.
East West Bancorp (NASDAQ:EWBC – Get Rating) last issued its quarterly earnings results on Thursday, April 21st. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.13. East West Bancorp had a return on equity of 15.90% and a net margin of 46.15%. The firm had revenue of $495.00 million during the quarter, compared to analyst estimates of $478.35 million. During the same period last year, the company earned $1.44 EPS. East West Bancorp’s quarterly revenue was up 16.0% compared to the same quarter last year.
Several large investors have recently made changes to their positions in the company. Toroso Investments LLC increased its holdings in shares of East West Bancorp by 16.5% in the 1st quarter. Toroso Investments LLC now owns 7,944 shares of the financial services provider’s stock valued at $628,000 after acquiring an additional 1,123 shares during the period. Capital International Sarl increased its holdings in shares of East West Bancorp by 6.5% in the 1st quarter. Capital International Sarl now owns 33,710 shares of the financial services provider’s stock valued at $2,664,000 after acquiring an additional 2,059 shares during the period. WESPAC Advisors SoCal LLC increased its holdings in shares of East West Bancorp by 31.1% in the 1st quarter. WESPAC Advisors SoCal LLC now owns 16,388 shares of the financial services provider’s stock valued at $1,295,000 after acquiring an additional 3,888 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of East West Bancorp by 67.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 80,073 shares of the financial services provider’s stock valued at $6,327,000 after acquiring an additional 32,252 shares during the period. Finally, Golden State Equity Partners increased its holdings in shares of East West Bancorp by 16.4% in the 1st quarter. Golden State Equity Partners now owns 3,883 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 548 shares during the period. Institutional investors and hedge funds own 89.44% of the company’s stock.
Shares of EWBC stock opened at $70.82 on Tuesday. East West Bancorp has a 52-week low of $65.87 and a 52-week high of $93.51. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.88. The firm has a market capitalization of $10.07 billion, a P/E ratio of 11.21, a P/E/G ratio of 0.98 and a beta of 1.55. The stock has a 50 day moving average price of $76.16 and a 200 day moving average price of $80.42.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 16th. Shareholders of record on Monday, May 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, April 29th. This represents a $1.60 annualized dividend and a yield of 2.26%. East West Bancorp’s payout ratio is currently 25.32%.
East West Bancorp Company Profile (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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