East West Bancorp, Inc. (NASDAQ:EWBC) Expected to Announce Earnings of $1.22 Per Share

Brokerages forecast that East West Bancorp, Inc. (NASDAQ:EWBC) will report earnings of $1.22 per share for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for East West Bancorp’s earnings. The lowest EPS estimate is $1.18 and the highest is $1.25. East West Bancorp reported earnings of $1.17 per share in the same quarter last year, which indicates a positive year over year growth rate of 4.3%. The firm is scheduled to announce its next quarterly earnings results on Thursday, October 17th.

On average, analysts expect that East West Bancorp will report full-year earnings of $4.69 per share for the current fiscal year, with EPS estimates ranging from $4.59 to $4.85. For the next year, analysts forecast that the business will report earnings of $5.02 per share, with EPS estimates ranging from $4.82 to $5.15. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover East West Bancorp.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.24. East West Bancorp had a net margin of 32.92% and a return on equity of 15.42%. The business had revenue of $420.09 million for the quarter, compared to the consensus estimate of $416.35 million. During the same period in the previous year, the firm earned $1.18 EPS.

EWBC has been the subject of several analyst reports. Morgan Stanley upgraded shares of East West Bancorp from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $59.00 to $57.00 in a report on Monday, July 1st. BidaskClub cut shares of East West Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating and set a $48.00 price target for the company in a report on Friday, June 28th. ValuEngine cut shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, August 2nd. Finally, Wedbush reiterated an “outperform” rating and set a $50.00 price target (down previously from $57.00) on shares of East West Bancorp in a report on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $61.33.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB boosted its holdings in shares of East West Bancorp by 11.6% in the 4th quarter. Nordea Investment Management AB now owns 5,112 shares of the financial services provider’s stock valued at $222,000 after buying an additional 532 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of East West Bancorp by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 1,750,970 shares of the financial services provider’s stock valued at $76,177,000 after buying an additional 96,398 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of East West Bancorp by 1.4% in the 1st quarter. State of Alaska Department of Revenue now owns 15,739 shares of the financial services provider’s stock valued at $754,000 after buying an additional 220 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of East West Bancorp by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 38,800 shares of the financial services provider’s stock valued at $1,861,000 after buying an additional 300 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in shares of East West Bancorp by 3.8% in the 1st quarter. Retirement Systems of Alabama now owns 407,946 shares of the financial services provider’s stock valued at $19,569,000 after buying an additional 15,054 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

NASDAQ EWBC traded up $1.52 on Friday, hitting $39.91. 1,081,600 shares of the stock were exchanged, compared to its average volume of 936,213. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.19. East West Bancorp has a fifty-two week low of $38.24 and a fifty-two week high of $66.00. The company has a market cap of $5.59 billion, a PE ratio of 8.56, a PEG ratio of 0.84 and a beta of 1.62. The company has a 50-day moving average price of $45.34 and a 200-day moving average price of $48.54.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.76%. The ex-dividend date was Wednesday, July 31st. East West Bancorp’s dividend payout ratio (DPR) is presently 23.61%.

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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

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Earnings History and Estimates for East West Bancorp (NASDAQ:EWBC)

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