Wall Street analysts expect that East West Bancorp, Inc. (NASDAQ:EWBC) will announce $357.80 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for East West Bancorp’s earnings, with estimates ranging from $352.00 million to $361.60 million. East West Bancorp reported sales of $321.50 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.3%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, January 24th.
According to Zacks, analysts expect that East West Bancorp will report full year sales of $357.80 million for the current financial year, with estimates ranging from $1.35 billion to $1.44 billion. For the next year, analysts anticipate that the company will report sales of $1.52 billion per share, with estimates ranging from $1.49 billion to $1.54 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow East West Bancorp.
East West Bancorp (NASDAQ:EWBC) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.03. The firm had revenue of $348.97 million during the quarter, compared to analyst estimates of $349.28 million. East West Bancorp had a net margin of 34.75% and a return on equity of 13.51%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 EPS.
Several equities research analysts recently commented on EWBC shares. BMO Capital Markets boosted their price target on shares of East West Bancorp from $61.00 to $63.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Raymond James Financial raised shares of East West Bancorp from an “underperform” rating to a “market perform” rating in a report on Thursday, October 5th. Zacks Investment Research cut shares of East West Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $63.00 target price (up previously from $61.00) on shares of East West Bancorp in a research report on Wednesday, October 4th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $65.00 target price on shares of East West Bancorp in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $65.60.
Shares of East West Bancorp (EWBC) opened at $60.83 on Friday. The company has a market cap of $8,779.54, a price-to-earnings ratio of 16.71, a P/E/G ratio of 1.66 and a beta of 1.46. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.13. East West Bancorp has a 1-year low of $48.07 and a 1-year high of $63.92.
In related news, insider Douglas Paul Krause sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $61.26, for a total transaction of $306,300.00. Following the completion of the sale, the insider now owns 18,015 shares in the company, valued at approximately $1,103,598.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Herman Y. Li sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $61.00, for a total value of $610,000.00. Following the completion of the sale, the director now owns 40,130 shares of the company’s stock, valued at approximately $2,447,930. The disclosure for this sale can be found here. Insiders have sold a total of 17,200 shares of company stock valued at $1,044,054 in the last quarter. 0.88% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank bought a new stake in shares of East West Bancorp in the second quarter valued at about $104,000. Strs Ohio bought a new stake in shares of East West Bancorp in the second quarter valued at about $110,000. San Francisco Sentry Investment Group CA bought a new stake in shares of East West Bancorp in the second quarter valued at about $138,000. D.A. Davidson & CO. lifted its holdings in shares of East West Bancorp by 1.0% in the second quarter. D.A. Davidson & CO. now owns 2,508 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 26 shares in the last quarter. Finally, Americafirst Capital Management LLC acquired a new stake in shares of East West Bancorp in the second quarter valued at about $149,000. Hedge funds and other institutional investors own 91.37% of the company’s stock.
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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