What is Zacks Research’s Estimate for EWBC FY2024 Earnings?

East West Bancorp, Inc. (NASDAQ:EWBC) – Equities research analysts at Zacks Research raised their FY2024 earnings estimates for shares of East West Bancorp in a report issued on Monday, December 9th. Zacks Research analyst R. Department now expects that the financial services provider will post earnings per share of $8.33 for the year, up from their prior estimate of $8.29. The consensus estimate for East West Bancorp’s current full-year earnings is $8.38 per share. Zacks Research also issued estimates for East West Bancorp’s Q4 2024 earnings at $2.10 EPS, Q1 2025 earnings at $2.04 EPS, Q2 2025 earnings at $2.12 EPS, FY2025 earnings at $8.60 EPS, Q1 2026 earnings at $2.25 EPS, Q2 2026 earnings at $2.28 EPS and FY2026 earnings at $9.34 EPS.

A number of other brokerages have also recently issued reports on EWBC. Truist Financial boosted their price objective on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barclays lifted their price target on shares of East West Bancorp from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Compass Point boosted their price objective on shares of East West Bancorp from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday. Stephens cut East West Bancorp from an “overweight” rating to an “equal weight” rating in a report on Monday. Finally, Keefe, Bruyette & Woods increased their price target on East West Bancorp from $96.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, East West Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.17.

East West Bancorp Stock Down 1.9 %

Shares of NASDAQ EWBC opened at $103.11 on Wednesday. The stock has a market cap of $14.29 billion, a P/E ratio of 13.02, a P/E/G ratio of 3.06 and a beta of 1.28. The firm has a 50 day moving average price of $99.59 and a 200 day moving average price of $85.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92. East West Bancorp has a 52-week low of $67.03 and a 52-week high of $113.95.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $641.80 million. During the same period in the previous year, the firm posted $2.02 earnings per share.

Institutional Trading of East West Bancorp

Several hedge funds have recently bought and sold shares of the stock. B. Metzler seel. Sohn & Co. Holding AG bought a new position in East West Bancorp in the 3rd quarter worth about $4,157,000. Janney Montgomery Scott LLC increased its holdings in East West Bancorp by 159.1% in the third quarter. Janney Montgomery Scott LLC now owns 29,587 shares of the financial services provider’s stock valued at $2,448,000 after buying an additional 18,166 shares in the last quarter. Quest Partners LLC increased its holdings in East West Bancorp by 830,133.3% in the third quarter. Quest Partners LLC now owns 24,907 shares of the financial services provider’s stock valued at $2,061,000 after buying an additional 24,904 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of East West Bancorp during the second quarter worth about $852,000. Finally, Jennison Associates LLC boosted its position in East West Bancorp by 7.3% during the third quarter. Jennison Associates LLC now owns 1,804,288 shares of the financial services provider’s stock worth $149,287,000 after acquiring an additional 123,376 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Insiders Place Their Bets

In related news, insider Irene H. Oh sold 10,000 shares of East West Bancorp stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $98.50, for a total transaction of $985,000.00. Following the transaction, the insider now owns 117,193 shares in the company, valued at approximately $11,543,510.50. The trade was a 7.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rudolph Estrada sold 469 shares of East West Bancorp stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $98.04, for a total transaction of $45,980.76. Following the transaction, the director now owns 17,750 shares in the company, valued at approximately $1,740,210. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,969 shares of company stock worth $2,458,276 over the last three months. Company insiders own 1.04% of the company’s stock.

East West Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a $0.55 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.20 annualized dividend and a yield of 2.13%. East West Bancorp’s dividend payout ratio (DPR) is presently 27.78%.

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.