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

East West Bancorp, Inc. (NASDAQ:EWBC) – Equities researchers at DA Davidson issued their Q2 2024 earnings estimates for East West Bancorp in a research report issued to clients and investors on Thursday, April 25th. DA Davidson analyst G. Tenner forecasts 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.

Other equities analysts have also recently issued research reports about the company. Compass Point lifted their price target on East West Bancorp from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Barclays assumed coverage on East West Bancorp in a research note on Friday, March 8th. They issued an “overweight” rating and a $106.00 price target on the stock. Keefe, Bruyette & Woods lifted their price target on East West Bancorp from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of East West Bancorp in a research note on Wednesday. Finally, Truist Financial dropped their price target on East West Bancorp from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.08.

East West Bancorp Price Performance

Shares of East West Bancorp stock opened at $75.98 on Friday. The company’s 50-day moving average price is $74.84 and its two-hundred day moving average price is $68.57. The stock has a market cap of $10.57 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 0.97 and a beta of 1.39. East West Bancorp has a 52 week low of $41.12 and a 52 week high of $79.54. 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 (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $644.13 million for the quarter, compared to analysts’ expectations of $636.77 million. During the same period in the previous year, the business earned $2.32 earnings per share. East West Bancorp’s revenue for the quarter was down 2.4% compared to the same quarter last year.

East West Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a dividend of $0.55 per share. 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 (DPR) is presently 27.71%.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, Director Molly Campbell sold 1,625 shares of East West Bancorp stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $77.26, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.58, for a total transaction of $147,160.00. Following the completion of the sale, the director now directly owns 16,739 shares in the company, valued at approximately $1,231,655.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Molly Campbell sold 1,625 shares of East West Bancorp stock in a transaction dated 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 of the company’s stock, valued at $797,400.46. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

Several institutional investors have recently made changes to their positions in EWBC. Riverview Trust Co acquired a new stake in shares of East West Bancorp during the 1st quarter valued at about $25,000. YHB Investment Advisors Inc. acquired a new stake in East West Bancorp in the 1st quarter worth approximately $27,000. First Horizon Advisors Inc. lifted its holdings in East West Bancorp by 65.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 211 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in East West Bancorp in the 4th quarter worth approximately $29,000. Finally, Rise Advisors LLC acquired a new stake in East West Bancorp in the 1st quarter worth approximately $30,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

East West Bancorp Company Profile

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.