East West Bancorp, Inc. (NASDAQ:EWBC) Shares to Pay Quarterly Dividend of $0.80

East West Bancorp, Inc. (NASDAQ:EWBC) declared a quarterly dividend on Tuesday, October 20th. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.80 per share by the financial services provider on Tuesday, November 17th. This represents a $3.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, November 2nd.

East West Bancorp has raised its dividend by an average of 0.2% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. East West Bancorp has a payout ratio of 33.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect East West Bancorp to earn $11.41 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 28.0%.

East West Bancorp Stock Performance

Shares of EWBC traded up $3.19 during mid-day trading on Wednesday, hitting $131.46. 623,620 shares of the company’s stock were exchanged, compared to its average volume of 954,864. East West Bancorp has a 52 week low of $98.08 and a 52 week high of $137.47. The stock’s 50-day simple moving average is $128.31 and its 200-day simple moving average is $126.64. The firm has a market cap of $18.01 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.37 and a beta of 0.98. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.33.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.04. The business had revenue of $822.72 million during the quarter, compared to analysts’ expectations of $811.07 million. East West Bancorp had a return on equity of 16.07% and a net margin of 30.45%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.65 earnings per share. On average, equities research analysts expect that East West Bancorp will post 10.64 EPS for the current year.

About East West Bancorp

East West Bancorp, Inc is the parent company of East West Bank, a full-service commercial bank headquartered in Pasadena, California. The bank serves businesses, professionals, consumers and institutions through a range of deposit, lending and financial services.

Its products and services include commercial and industrial loans, commercial real estate financing, residential and consumer lending, checking and savings accounts, treasury management, international banking, wealth management and foreign-exchange services.