East West Bancorp (EWBC) Set to Announce Earnings on Thursday

East West Bancorp (NASDAQ:EWBCGet Rating) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, January 26th. Analysts expect the company to announce earnings of $2.22 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

East West Bancorp Stock Down 2.0 %

Shares of EWBC traded down $1.40 during midday trading on Tuesday, hitting $68.36. The stock had a trading volume of 943,264 shares, compared to its average volume of 817,314. The company has a 50 day simple moving average of $66.83 and a two-hundred day simple moving average of $69.63. East West Bancorp has a twelve month low of $61.65 and a twelve month high of $93.51. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of 9.67, a price-to-earnings-growth ratio of 0.78 and a beta of 1.40. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.90 and a quick ratio of 0.90.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EWBC. Morgan Stanley began coverage on East West Bancorp in a report on Monday, December 5th. They issued an “equal weight” rating and a $84.00 price objective for the company. Wells Fargo & Company decreased their price objective on East West Bancorp from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, December 15th. StockNews.com began coverage on East West Bancorp in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Piper Sandler raised their price objective on East West Bancorp to $75.00 in a report on Friday, September 30th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $81.67.

Insider Buying and Selling

In related news, Vice Chairman Douglas Paul Krause sold 5,000 shares of East West Bancorp stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $72.43, for a total transaction of $362,150.00. Following the completion of the transaction, the insider now owns 52,435 shares in the company, valued at $3,797,867.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On East West Bancorp

A number of institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors lifted its stake in shares of East West Bancorp by 6.2% in the 1st quarter. Captrust Financial Advisors now owns 2,776 shares of the financial services provider’s stock valued at $219,000 after acquiring an additional 162 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of East West Bancorp by 4.2% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 6,264 shares of the financial services provider’s stock valued at $421,000 after acquiring an additional 253 shares during the last quarter. Franklin Resources Inc. increased its holdings in East West Bancorp by 13.3% in the second quarter. Franklin Resources Inc. now owns 3,298 shares of the financial services provider’s stock valued at $213,000 after purchasing an additional 388 shares during the period. Golden State Equity Partners increased its holdings in East West Bancorp by 16.4% in the first quarter. Golden State Equity Partners now owns 3,883 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 548 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in East West Bancorp by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 70,974 shares of the financial services provider’s stock valued at $4,765,000 after purchasing an additional 558 shares during the period. Institutional investors own 88.68% of the company’s stock.

East West Bancorp Company Profile

(Get Rating)

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. It operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. The company accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits.

Further Reading

Earnings History for East West Bancorp (NASDAQ:EWBC)

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