East West Bancorp, Inc. (NASDAQ:EWBC) Forecasted to Earn Q3 2024 Earnings of $2.13 Per Share

East West Bancorp, Inc. (NASDAQ:EWBC) – Analysts at DA Davidson upped their Q3 2024 earnings per share (EPS) estimates for shares of East West Bancorp in a research report issued to clients and investors on Thursday, October 3rd. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings per share of $2.13 for the quarter, up from their previous forecast of $2.09. DA Davidson currently has a “Buy” rating and a $100.00 price target on the stock. The consensus estimate for East West Bancorp’s current full-year earnings is $8.17 per share.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.10. The company had revenue of $638.00 million for the quarter, compared to analysts’ expectations of $631.61 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.20 earnings per share.

Several other analysts have also recently weighed in on the stock. Truist Financial reduced their price objective on shares of East West Bancorp from $96.00 to $93.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Wedbush increased their price target on East West Bancorp from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Barclays lifted their price objective on East West Bancorp from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Jefferies Financial Group decreased their target price on shares of East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Wells Fargo & Company upped their price objective on shares of East West Bancorp from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, East West Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.43.

East West Bancorp Trading Up 0.4 %

EWBC opened at $80.95 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. East West Bancorp has a fifty-two week low of $49.59 and a fifty-two week high of $89.75. The company’s 50 day moving average price is $81.24 and its two-hundred day moving average price is $77.19. The firm has a market capitalization of $11.26 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 2.80 and a beta of 1.29.

East West Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.20 annualized dividend and a yield of 2.72%. East West Bancorp’s payout ratio is currently 27.71%.

Insider Activity

In related news, EVP Lisa L. Kim sold 6,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $78.68, for a total value of $472,080.00. Following the transaction, the executive vice president now directly owns 18,891 shares in the company, valued at approximately $1,486,343.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Lisa L. Kim sold 6,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $78.68, for a total value of $472,080.00. Following the sale, the executive vice president now owns 18,891 shares in the company, valued at approximately $1,486,343.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rudolph Estrada sold 1,896 shares of East West Bancorp stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.77, for a total value of $166,411.92. Following the transaction, the director now owns 18,470 shares of the company’s stock, valued at approximately $1,621,111.90. The disclosure for this sale can be found here. Insiders sold a total of 13,346 shares of company stock worth $1,108,160 over the last quarter. 1.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On East West Bancorp

Several large investors have recently bought and sold shares of the stock. Riverview Trust Co purchased a new stake in shares of East West Bancorp in the first quarter valued at about $25,000. YHB Investment Advisors Inc. purchased a new stake in East West Bancorp in the 1st quarter valued at about $27,000. Rise Advisors LLC bought a new position in shares of East West Bancorp during the 1st quarter worth approximately $30,000. Kapitalo Investimentos Ltda purchased a new position in shares of East West Bancorp in the 4th quarter worth approximately $29,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of East West Bancorp in the second quarter valued at approximately $30,000. 89.53% of the stock is currently owned by institutional investors.

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.