Q2 2024 EPS Estimates for East West Bancorp, Inc. Lifted by Analyst (NASDAQ:EWBC)

East West Bancorp, Inc. (NASDAQ:EWBC) – Research analysts at Wedbush increased their Q2 2024 earnings per share (EPS) estimates for East West Bancorp in a note issued to investors on Wednesday, April 24th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings of $1.96 per share for the quarter, up from their previous forecast of $1.95. Wedbush currently has a “Outperform” rating and a $90.00 target price on the stock. The consensus estimate for East West Bancorp’s current full-year earnings is $7.92 per share. Wedbush also issued estimates for East West Bancorp’s Q3 2024 earnings at $2.02 EPS, FY2024 earnings at $8.05 EPS, Q2 2025 earnings at $2.05 EPS, Q3 2025 earnings at $2.17 EPS and FY2025 earnings at $8.40 EPS.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. The company had revenue of $644.13 million during the quarter, compared to analysts’ expectations of $636.77 million. East West Bancorp had a return on equity of 17.43% and a net margin of 26.78%. East West Bancorp’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.32 earnings per share.

A number of other research firms have also recently commented on EWBC. Barclays initiated coverage on East West Bancorp in a research report on Friday, March 8th. They set an “overweight” rating and a $106.00 price objective for the company. Morgan Stanley boosted their price target on East West Bancorp from $76.00 to $89.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Jefferies Financial Group boosted their price target on East West Bancorp from $86.00 to $88.00 and gave the company a “buy” rating in a report on Monday, April 8th. 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. Finally, Truist Financial cut their price target on East West Bancorp from $90.00 to $86.00 and set a “buy” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $84.08.

East West Bancorp Stock Down 0.5 %

East West Bancorp stock opened at $75.98 on Thursday. 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. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.91 and a current ratio of 0.93. East West Bancorp has a one year low of $41.12 and a one year high of $79.54. The stock has a fifty day moving average of $74.84 and a 200 day moving average of $68.57.

Institutional Investors Weigh In On East West Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new stake in East West Bancorp during the first quarter valued at approximately $25,000. YHB Investment Advisors Inc. purchased a new stake in shares of East West Bancorp in the first quarter worth approximately $27,000. First Horizon Advisors Inc. raised its holdings in shares of East West Bancorp by 65.1% in the third quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider’s stock worth $28,000 after buying an additional 211 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in shares of East West Bancorp in the fourth quarter worth approximately $29,000. Finally, Rise Advisors LLC purchased a new stake in shares of East West Bancorp in the first quarter worth approximately $30,000. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at East West Bancorp

In related news, Director Jack C. Liu sold 2,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 16,739 shares of the company’s stock, valued at $1,231,655.62. The sale was disclosed in a filing with the SEC, which is available through this link. In other East West Bancorp news, Director Molly Campbell sold 1,625 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total transaction of $125,547.50. Following the sale, the director now directly owns 10,321 shares in the company, valued at $797,400.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.58, for a total value of $147,160.00. Following the sale, the director now owns 16,739 shares in the company, valued at $1,231,655.62. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, May 2nd. East West Bancorp’s payout ratio is presently 27.71%.

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.