East West Bancorp, Inc. (EWBC) Expected to Post Quarterly Sales of $398.88 Million
Analysts forecast that East West Bancorp, Inc. (NASDAQ:EWBC) will announce $398.88 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for East West Bancorp’s earnings, with the lowest sales estimate coming in at $397.00 million and the highest estimate coming in at $402.19 million. East West Bancorp posted sales of $352.78 million in the same quarter last year, which would indicate a positive year over year growth rate of 13.1%. The firm is expected to issue its next earnings results on Thursday, October 18th.
On average, analysts expect that East West Bancorp will report full-year sales of $1.58 billion for the current financial year, with estimates ranging from $1.56 billion to $1.61 billion. For the next financial year, analysts anticipate that the business will post sales of $1.72 billion per share, with estimates ranging from $1.68 billion to $1.76 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) last released its quarterly earnings data on Thursday, July 19th. The financial services provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.09. East West Bancorp had a return on equity of 15.12% and a net margin of 34.15%. The firm had revenue of $389.95 million for the quarter, compared to the consensus estimate of $382.70 million. During the same quarter in the prior year, the company posted $0.81 earnings per share. The firm’s revenue was up 15.6% on a year-over-year basis.
East West Bancorp stock traded down $0.45 during trading hours on Thursday, reaching $61.68. 970,473 shares of the company were exchanged, compared to its average volume of 820,310. The stock has a market capitalization of $9.08 billion, a P/E ratio of 17.76, a PEG ratio of 1.29 and a beta of 1.33. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. East West Bancorp has a 12 month low of $55.58 and a 12 month high of $73.98.
In other news, CEO Dominic Ng sold 5,770 shares of the stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of $69.61, for a total value of $401,649.70. Following the completion of the sale, the chief executive officer now directly owns 409,142 shares of the company’s stock, valued at $28,480,374.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.68% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. People s United Financial Inc. bought a new stake in shares of East West Bancorp in the second quarter valued at approximately $18,147,000. Itau Unibanco Holding S.A. bought a new position in East West Bancorp in the second quarter worth $108,000. Contravisory Investment Management Inc. bought a new position in East West Bancorp in the second quarter worth $131,000. Atria Investments LLC bought a new position in East West Bancorp in the second quarter worth $206,000. Finally, Raymond James Trust N.A. bought a new position in East West Bancorp in the second quarter worth $220,000. 88.83% of the stock is owned by institutional investors.
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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.
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