East West Bancorp, Inc. (NASDAQ:EWBC) – Research analysts at DA Davidson raised 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 expects that the financial services provider will earn $3.52 per share for the year, up from their previous estimate 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.
East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. East West Bancorp had a return on equity of 13.31% and a net margin of 34.63%. The firm had revenue of $337.49 million during the quarter, compared to analyst estimates of $329.32 million. During the same quarter last year, the firm earned $0.71 EPS.
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A number of other equities analysts have also commented on the company. Piper Jaffray Companies dropped their price objective on East West Bancorp to $62.00 and set an “overweight” rating on the stock in a research note on Monday, April 17th. Morgan Stanley reiterated an “equal weight” rating and issued a $60.00 price objective (up from $59.00) on shares of East West Bancorp in a research note on Thursday, July 6th. Zacks Investment Research lowered East West Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, April 6th. BidaskClub lowered East West Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $57.00 price objective on shares of East West Bancorp in a research note on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $62.63.
Shares of East West Bancorp (EWBC) traded up 2.41% during midday trading on Monday, reaching $59.10. The company’s stock had a trading volume of 324,632 shares. The stock has a market capitalization of $8.54 billion, a P/E ratio of 16.88 and a beta of 1.42. East West Bancorp has a 12 month low of $33.02 and a 12 month high of $60.42. The stock’s 50-day moving average is $57.78 and its 200 day moving average is $54.33.
A number of institutional investors have recently modified their holdings of the stock. Washington Trust Bank raised 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 in the last quarter. CENTRAL TRUST Co purchased a new position in shares of East West Bancorp during the first quarter valued at about $177,000. Quadrature Capital Ltd purchased a new position in shares of East West Bancorp during the fourth quarter valued at about $221,000. Oppenheimer Asset Management Inc. purchased a new position in shares of East West Bancorp during the first quarter valued at about $230,000. Finally, Smith Moore & CO. raised its position in shares of East West Bancorp by 17.4% in the first quarter. Smith Moore & CO. now owns 4,840 shares of the financial services provider’s stock valued at $250,000 after buying an additional 719 shares in the last quarter. Hedge funds and other institutional investors own 87.61% of the company’s stock.
In related news, Director Molly Campbell sold 590 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $55.93, for a total transaction of $32,998.70. Following the transaction, the director now directly owns 3,903 shares in the company, valued at $218,294.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jack C. Liu sold 1,123 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $59.00, for a total value of $66,257.00. Following the transaction, the director now owns 23,669 shares in the company, valued at $1,396,471. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, July 28th. This represents a $0.80 annualized dividend and a yield of 1.39%. East West Bancorp’s dividend payout ratio is 22.92%.
About East West Bancorp
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.
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