East West Bancorp, Inc. (EWBC) Forecasted to Earn FY2017 Earnings of $3.52 Per Share

East West Bancorp, Inc. (NASDAQ:EWBC) – Analysts at DA Davidson lifted their FY2017 earnings per share estimates for shares of East West Bancorp in a research report issued on Friday. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings per share of $3.52 for the year, up from their previous forecast of $3.44. DA Davidson also issued estimates for East West Bancorp’s Q4 2017 earnings at $0.93 EPS and FY2018 earnings at $3.80 EPS.

EWBC has been the topic of a number of other reports. Barclays PLC reaffirmed an “overweight” rating and set a $63.00 price objective (up from $61.00) on shares of East West Bancorp in a report on Sunday, April 23rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $57.00 price objective on shares of East West Bancorp in a report on Monday, May 22nd. Deutsche Bank AG downgraded East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 price objective on the stock. in a report on Friday, July 14th. Morgan Stanley lifted their price objective on East West Bancorp from $57.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday, June 6th. Finally, BidaskClub downgraded East West Bancorp from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $62.63.

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Shares of East West Bancorp (EWBC) traded up 2.41% during mid-day trading on Monday, hitting $59.10. The company had a trading volume of 324,632 shares. The firm has a market cap of $8.54 billion, a PE ratio of 16.88 and a beta of 1.42. The firm’s 50 day moving average is $57.78 and its 200-day moving average is $54.33. East West Bancorp has a 12-month low of $33.02 and a 12-month high of $60.42.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.81. The business had revenue of $337.49 million for the quarter, compared to the consensus estimate of $329.32 million. East West Bancorp had a return on equity of 13.31% and a net margin of 34.63%. During the same quarter last year, the business posted $0.71 EPS.

Several hedge funds and other institutional investors have recently made changes to their positions in EWBC. Washington Trust Bank increased its position in shares of East West Bancorp by 3.7% in the first quarter. Washington Trust Bank now owns 2,380 shares of the financial services provider’s stock valued at $123,000 after buying an additional 86 shares during the last quarter. Wright Investors Service Inc. increased its position in shares of East West Bancorp by 0.6% in the second quarter. Wright Investors Service Inc. now owns 14,145 shares of the financial services provider’s stock valued at $829,000 after buying an additional 90 shares during the last quarter. Quantitative Systematic Strategies LLC increased its position in shares of East West Bancorp by 1.3% in the second quarter. Quantitative Systematic Strategies LLC now owns 10,354 shares of the financial services provider’s stock valued at $606,000 after buying an additional 129 shares during the last quarter. World Asset Management Inc increased its position in shares of East West Bancorp by 2.1% in the first quarter. World Asset Management Inc now owns 8,944 shares of the financial services provider’s stock valued at $462,000 after buying an additional 181 shares during the last quarter. Finally, Stephens Inc. AR increased its position in shares of East West Bancorp by 3.8% in the first quarter. Stephens Inc. AR now owns 9,438 shares of the financial services provider’s stock valued at $487,000 after buying an additional 348 shares during the last quarter. 87.61% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Jack C. Liu sold 1,123 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $59.00, for a total value of $66,257.00. Following the transaction, the director now directly owns 23,669 shares of the company’s stock, valued at approximately $1,396,471. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Molly Campbell sold 590 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $55.93, for a total value of $32,998.70. Following the completion of the transaction, the director now directly owns 3,903 shares in the company, valued at $218,294.79. The disclosure for this sale can be found here. 0.88% of the stock is owned by insiders.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Friday, July 28th. East West Bancorp’s payout ratio is currently 22.92%.

East West Bancorp Company Profile

East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.

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

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