Q2 2024 EPS Estimates for East West Bancorp, Inc. Lifted by Analyst (NASDAQ:EWBC)

East West Bancorp, Inc. (NASDAQ:EWBC) – Research analysts at Wedbush increased their Q2 2024 earnings per share estimates for shares of East West Bancorp in a research report issued on Wednesday, April 24th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings per share of $1.96 for the quarter, up from their prior estimate of $1.95. Wedbush has a “Outperform” rating and a $90.00 price objective on the stock. The consensus estimate for East West Bancorp’s current full-year earnings is $7.92 per share. Wedbush also issued estimates for East West Bancorp’s Q3 2024 earnings at $2.02 EPS, FY2024 earnings at $8.05 EPS, Q2 2025 earnings at $2.05 EPS, Q3 2025 earnings at $2.17 EPS and FY2025 earnings at $8.40 EPS.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. East West Bancorp had a return on equity of 17.43% and a net margin of 26.78%. The company had revenue of $644.13 million for the quarter, compared to analyst estimates of $636.77 million. During the same quarter last year, the firm posted $2.32 EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis.

Other research analysts have also issued research reports about the company. Citigroup lifted their price target on East West Bancorp from $85.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Barclays assumed coverage on East West Bancorp in a report on Friday, March 8th. They set an “overweight” rating and a $106.00 price target on the stock. Compass Point lifted their price target on East West Bancorp from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Truist Financial reduced their price target on East West Bancorp from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of East West Bancorp from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, East West Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $84.08.

East West Bancorp Stock Down 0.5 %

NASDAQ EWBC opened at $75.98 on Thursday. East West Bancorp has a 52 week low of $41.12 and a 52 week high of $79.54. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The business’s fifty day simple moving average is $74.84 and its 200-day simple moving average is $68.57. The firm has a market cap of $10.57 billion, a PE ratio of 9.57, a P/E/G ratio of 0.97 and a beta of 1.39.

East West Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.90%. The ex-dividend date is Thursday, May 2nd. East West Bancorp’s dividend payout ratio is currently 27.71%.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, Director Molly Campbell sold 1,625 shares of East West Bancorp stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the transaction, the director now directly owns 10,321 shares of the company’s stock, valued at approximately $797,400.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of East West Bancorp stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.58, for a total value of $147,160.00. Following the completion of the transaction, the director now directly owns 16,739 shares of the company’s stock, valued at approximately $1,231,655.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Molly Campbell sold 1,625 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $77.26, for a total value of $125,547.50. Following the transaction, the director now directly owns 10,321 shares of the company’s stock, valued at $797,400.46. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On East West Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its position in shares of East West Bancorp by 40,757.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 103,370 shares of the financial services provider’s stock worth $7,437,000 after buying an additional 103,117 shares in the last quarter. Federated Hermes Inc. grew its position in shares of East West Bancorp by 5.0% during the third quarter. Federated Hermes Inc. now owns 31,667 shares of the financial services provider’s stock worth $1,669,000 after buying an additional 1,501 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in East West Bancorp by 92.7% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 48,562 shares of the financial services provider’s stock worth $2,560,000 after purchasing an additional 23,361 shares during the last quarter. Vanguard Group Inc. lifted its stake in East West Bancorp by 1.4% during the third quarter. Vanguard Group Inc. now owns 15,243,818 shares of the financial services provider’s stock worth $803,502,000 after purchasing an additional 215,281 shares during the last quarter. Finally, Trillium Asset Management LLC lifted its stake in East West Bancorp by 12.2% during the third quarter. Trillium Asset Management LLC now owns 279,179 shares of the financial services provider’s stock worth $14,715,000 after purchasing an additional 30,466 shares during the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.