East West Bancorp, Inc. (NASDAQ:EWBC – Get Rating) – Research analysts at DA Davidson reduced their Q1 2023 EPS estimates for shares of East West Bancorp in a report issued on Wednesday, April 5th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will earn $2.21 per share for the quarter, down from their prior estimate of $2.22. The consensus estimate for East West Bancorp’s current full-year earnings is $8.98 per share. DA Davidson also issued estimates for East West Bancorp’s FY2024 earnings at $9.13 EPS.
Several other analysts also recently issued reports on EWBC. UBS Group started coverage on shares of East West Bancorp in a research report on Wednesday, March 15th. They issued a “neutral” rating and a $63.00 price objective for the company. StockNews.com started coverage on shares of East West Bancorp in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Wells Fargo & Company lowered their price objective on shares of East West Bancorp from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, December 15th. Truist Financial lowered their price objective on shares of East West Bancorp from $85.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, March 23rd. Finally, Morgan Stanley lowered their price objective on shares of East West Bancorp from $88.00 to $65.00 and set an “equal weight” rating for the company in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $73.00.
East West Bancorp Stock Up 3.8 %
East West Bancorp (NASDAQ:EWBC – Get Rating) last posted its earnings results on Thursday, January 26th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.15. The firm had revenue of $826.14 million during the quarter, compared to the consensus estimate of $654.24 million. East West Bancorp had a net margin of 43.06% and a return on equity of 19.66%. During the same quarter in the prior year, the company earned $1.52 EPS.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. M&R Capital Management Inc. increased its holdings in shares of East West Bancorp by 3.8% during the first quarter. M&R Capital Management Inc. now owns 5,855 shares of the financial services provider’s stock valued at $325,000 after purchasing an additional 215 shares during the period. Victory Capital Management Inc. boosted its position in East West Bancorp by 7.5% during the 4th quarter. Victory Capital Management Inc. now owns 573,813 shares of the financial services provider’s stock worth $37,814,000 after acquiring an additional 39,996 shares during the period. Rockefeller Capital Management L.P. boosted its position in East West Bancorp by 87.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,915 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 895 shares during the period. Trust Investment Advisors acquired a new stake in shares of East West Bancorp during the 4th quarter valued at about $603,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of East West Bancorp by 13.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,463 shares of the financial services provider’s stock valued at $228,000 after buying an additional 416 shares during the last quarter. 88.68% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at East West Bancorp
In other news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $77.00, for a total transaction of $154,000.00. Following the completion of the sale, the director now owns 17,136 shares of the company’s stock, valued at $1,319,472. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Irene H. Oh acquired 10,000 shares of East West Bancorp stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average cost of $49.51 per share, for a total transaction of $495,100.00. Following the completion of the purchase, the chief financial officer now directly owns 124,925 shares of the company’s stock, valued at approximately $6,185,036.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $77.00, for a total value of $154,000.00. Following the transaction, the director now owns 17,136 shares in the company, valued at $1,319,472. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.
East West Bancorp Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 21st. Stockholders of record on Monday, February 6th were given a dividend of $0.48 per share. The ex-dividend date was Friday, February 3rd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.62%. This is an increase from East West Bancorp’s previous quarterly dividend of $0.40. East West Bancorp’s dividend payout ratio (DPR) is presently 24.24%.
About East West Bancorp
East West Bancorp, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following business segments: Consumer and Business Banking, Commercial Banking, and Other. The Consumer and Business Banking segment provides financial service products and services to consumer and commercial customers through the company’s branch network in the U.S.
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