East West Bancorp (EWBC) Scheduled to Post Quarterly Earnings on Tuesday

East West Bancorp (NASDAQ:EWBC) is set to post its quarterly earnings results after the market closes on Tuesday, April 23rd. Analysts expect East West Bancorp to post earnings of $2.01 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $2.02 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $654.70 million for the quarter, compared to analysts’ expectations of $641.91 million. During the same period in the previous year, the firm posted $2.37 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts expect East West Bancorp to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

East West Bancorp Trading Down 0.5 %

EWBC opened at $72.38 on Tuesday. The business has a fifty day simple moving average of $74.20 and a 200-day simple moving average of $67.36. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.02. East West Bancorp has a 52 week low of $41.12 and a 52 week high of $79.54. The firm has a market cap of $10.07 billion, a P/E ratio of 8.85, a P/E/G ratio of 0.92 and a beta of 1.39.

East West Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Friday, February 2nd were issued a dividend of $0.55 per share. The ex-dividend date was Thursday, February 1st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.04%. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.48. East West Bancorp’s dividend payout ratio (DPR) is currently 26.89%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EWBC. Truist Financial boosted their target price on shares of East West Bancorp from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Piper Sandler boosted their price target on East West Bancorp from $72.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Wedbush restated an “outperform” rating and set a $86.00 price objective on shares of East West Bancorp in a report on Wednesday, January 24th. Compass Point increased their target price on East West Bancorp from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Finally, Citigroup lifted their price target on East West Bancorp from $85.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.15.

Insider Buying and Selling

In other news, Director Molly Campbell sold 1,625 shares of the company’s stock in a transaction 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 transaction, the director now owns 10,321 shares of the company’s stock, valued at approximately $797,400.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total transaction of $147,160.00. Following the sale, the director now directly owns 16,739 shares in the company, valued at $1,231,655.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Molly Campbell sold 1,625 shares of the 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 sale, the director now owns 10,321 shares in the company, valued at approximately $797,400.46. The disclosure for this sale can be found here. Insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

A number of hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in East West Bancorp by 92.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,409,477 shares of the financial services provider’s stock worth $317,263,000 after purchasing an additional 2,120,772 shares during the period. Norges Bank purchased a new stake in shares of East West Bancorp during the fourth quarter valued at $99,407,000. State Street Corp boosted its position in shares of East West Bancorp by 15.0% in the 1st quarter. State Street Corp now owns 5,793,739 shares of the financial services provider’s stock valued at $321,553,000 after purchasing an additional 756,930 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in East West Bancorp by 28.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,997,099 shares of the financial services provider’s stock worth $197,509,000 after purchasing an additional 667,316 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its holdings in East West Bancorp by 17,898.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 647,933 shares of the financial services provider’s stock worth $42,699,000 after buying an additional 644,333 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.