East West Bancorp (EWBC) Scheduled to Post Earnings on Thursday

Posted by Defense World Staff on Apr 13th, 2023

East West Bancorp (NASDAQ:EWBC – Get Rating) will post its quarterly earnings results before the market opens on Thursday, April 20th. Analysts expect East West Bancorp to post earnings of $2.18 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

East West Bancorp (NASDAQ:EWBC – Get Rating) last announced its earnings results on Thursday, January 26th. The financial services provider reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.15. East West Bancorp had a net margin of 43.06% and a return on equity of 19.66%. The business had revenue of $826.14 million during the quarter, compared to analysts’ expectations of $654.24 million. During the same period in the prior year, the company earned $1.52 earnings per share. On average, analysts expect East West Bancorp to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.

East West Bancorp Stock Down 0.2 %

Shares of EWBC stock opened at $53.24 on Thursday. East West Bancorp has a 12 month low of $33.86 and a 12 month high of $85.05. The stock has a market cap of $7.51 billion, a P/E ratio of 6.72, a P/E/G ratio of 0.60 and a beta of 1.40. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. The company has a 50 day simple moving average of $66.29 and a two-hundred day simple moving average of $67.84.

East West Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 21st. Shareholders of record on Monday, February 6th were issued a dividend of $0.48 per share. This is a boost from East West Bancorp’s previous quarterly dividend of $0.40. This represents a $1.92 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Friday, February 3rd. East West Bancorp’s dividend payout ratio is currently 24.24%.

Insider Transactions at East West Bancorp

In related news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly 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 is accessible through this hyperlink. In related news, CFO Irene H. Oh bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was bought at an average cost of $49.51 per share, with a total value of $495,100.00. Following the completion of the purchase, the chief financial officer now owns 124,925 shares of the company’s stock, valued at approximately $6,185,036.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 17,136 shares of the company’s stock, valued at $1,319,472. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

Several institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. lifted its position in East West Bancorp by 87.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,915 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 895 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in East West Bancorp by 13.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,463 shares of the financial services provider’s stock valued at $228,000 after purchasing an additional 416 shares during the last quarter. Alliancebernstein L.P. lifted its position in East West Bancorp by 37.1% during the fourth quarter. Alliancebernstein L.P. now owns 289,676 shares of the financial services provider’s stock valued at $19,090,000 after purchasing an additional 78,401 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in East West Bancorp by 2.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 72,494 shares of the financial services provider’s stock valued at $4,777,000 after purchasing an additional 1,520 shares during the last quarter. Finally, CI Private Wealth LLC bought a new position in East West Bancorp during the fourth quarter valued at $1,579,000. Institutional investors own 88.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on EWBC shares. Keefe, Bruyette & Woods reduced their target price on shares of East West Bancorp from $90.00 to $81.00 and set an “outperform” rating for the company in a report on Thursday, April 6th. Truist Financial reduced their target price on shares of East West Bancorp from $85.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, March 23rd. StockNews.com started coverage on shares of East West Bancorp in a research note on Thursday, March 16th. They issued a “hold” rating for the company. UBS Group started coverage on shares of East West Bancorp in a research note on Wednesday, March 15th. They issued a “neutral” rating and a $63.00 price objective for the company. Finally, Morgan Stanley reduced 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 note on Wednesday, April 5th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $74.00.

East West Bancorp Company Profile

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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.