FY2019 EPS Estimates for East West Bancorp, Inc. Decreased by Piper Jaffray Companies (NASDAQ:EWBC)

East West Bancorp, Inc. (NASDAQ:EWBC) – Piper Jaffray Companies dropped their FY2019 earnings per share (EPS) estimates for East West Bancorp in a note issued to investors on Thursday, October 17th. Piper Jaffray Companies analyst M. Clark now forecasts that the financial services provider will post earnings per share of $4.72 for the year, down from their previous forecast of $4.89. Piper Jaffray Companies also issued estimates for East West Bancorp’s Q4 2019 earnings at $1.17 EPS, Q1 2020 earnings at $1.11 EPS, Q2 2020 earnings at $1.16 EPS, Q3 2020 earnings at $1.21 EPS, Q4 2020 earnings at $1.21 EPS, FY2020 earnings at $4.70 EPS, Q1 2021 earnings at $1.15 EPS, Q2 2021 earnings at $1.17 EPS, Q3 2021 earnings at $1.22 EPS and FY2021 earnings at $4.75 EPS.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.03). The company had revenue of $421.28 million for the quarter, compared to analyst estimates of $418.32 million. East West Bancorp had a return on equity of 14.90% and a net margin of 31.98%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $1.17 earnings per share.

Several other analysts have also issued reports on EWBC. BidaskClub lowered East West Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. SunTrust Banks reduced their price objective on East West Bancorp from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. BMO Capital Markets lowered East West Bancorp from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $51.00 to $44.00 in a research note on Monday, August 19th. Morgan Stanley reduced their price objective on East West Bancorp from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Co reduced their price objective on East West Bancorp from $60.00 to $57.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. East West Bancorp has a consensus rating of “Hold” and an average price target of $53.43.

EWBC opened at $43.18 on Monday. The firm has a market cap of $6.13 billion, a P/E ratio of 9.27, a price-to-earnings-growth ratio of 0.86 and a beta of 1.69. East West Bancorp has a 52-week low of $37.69 and a 52-week high of $56.09. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.01 and a current ratio of 1.01. The business’s fifty day moving average is $43.34 and its 200-day moving average is $45.43.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.55%. The ex-dividend date is Thursday, October 31st. East West Bancorp’s dividend payout ratio (DPR) is presently 23.61%.

In other news, CFO Irene H. Oh bought 6,400 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was purchased at an average cost of $39.10 per share, for a total transaction of $250,240.00. Following the completion of the transaction, the chief financial officer now owns 59,589 shares of the company’s stock, valued at $2,329,929.90. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Dominic Ng bought 25,840 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was purchased at an average price of $38.71 per share, with a total value of $1,000,266.40. Following the completion of the transaction, the chief executive officer now directly owns 538,250 shares of the company’s stock, valued at approximately $20,835,657.50. The disclosure for this purchase can be found here. Insiders purchased 38,052 shares of company stock worth $1,478,330 over the last ninety days. 0.61% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Nuveen Asset Management LLC raised its position in East West Bancorp by 130.0% in the second quarter. Nuveen Asset Management LLC now owns 1,446,685 shares of the financial services provider’s stock valued at $67,662,000 after purchasing an additional 817,822 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in East West Bancorp by 0.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 74,893 shares of the financial services provider’s stock valued at $3,503,000 after purchasing an additional 629 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in East West Bancorp by 63.1% in the second quarter. Cullen Frost Bankers Inc. now owns 1,592 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 616 shares during the last quarter. GW Henssler & Associates Ltd. raised its position in East West Bancorp by 15.9% in the second quarter. GW Henssler & Associates Ltd. now owns 9,900 shares of the financial services provider’s stock valued at $463,000 after purchasing an additional 1,358 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in East West Bancorp by 56.3% in the second quarter. Renaissance Technologies LLC now owns 505,133 shares of the financial services provider’s stock valued at $23,625,000 after purchasing an additional 181,900 shares during the last quarter. Hedge funds and other institutional investors own 88.42% of the company’s stock.

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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.

See Also: Current Ratio

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

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