Zacks Research Has Bullish Outlook for EWBC FY2024 Earnings

East West Bancorp, Inc. (NASDAQ:EWBCFree Report) – Research analysts at Zacks Research boosted their FY2024 EPS estimates for East West Bancorp in a report released on Thursday, January 23rd. Zacks Research analyst R. Department now expects that the financial services provider will earn $8.34 per share for the year, up from their prior forecast of $8.33. 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 Q3 2026 earnings at $2.34 EPS and FY2026 earnings at $9.32 EPS.

A number of other research analysts also recently commented on EWBC. Wells Fargo & Company increased their price target on shares of East West Bancorp from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Morgan Stanley raised their price objective on East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Keefe, Bruyette & Woods boosted their target price 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. Piper Sandler lowered their price target on East West Bancorp from $100.00 to $97.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Barclays cut their price objective on shares of East West Bancorp from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $110.38.

Check Out Our Latest Stock Analysis on East West Bancorp

East West Bancorp Stock Performance

Shares of NASDAQ:EWBC opened at $103.91 on Monday. The firm has a fifty day simple moving average of $101.30 and a two-hundred day simple moving average of $91.31. East West Bancorp has a 52 week low of $67.27 and a 52 week high of $113.95. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $14.41 billion, a P/E ratio of 13.12, a PEG ratio of 2.85 and a beta of 1.30.

Institutional Investors Weigh In On East West Bancorp

Several hedge funds have recently modified their holdings of the business. FMR LLC raised its stake in East West Bancorp by 1.8% in the third quarter. FMR LLC now owns 7,882,803 shares of the financial services provider’s stock worth $652,223,000 after buying an additional 136,528 shares in the last quarter. State Street Corp increased its holdings in shares of East West Bancorp by 1.4% in the 3rd quarter. State Street Corp now owns 5,314,994 shares of the financial services provider’s stock valued at $439,763,000 after acquiring an additional 75,024 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of East West Bancorp by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,231,953 shares of the financial services provider’s stock worth $350,152,000 after acquiring an additional 96,729 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of East West Bancorp by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,608,132 shares of the financial services provider’s stock worth $216,438,000 after purchasing an additional 122,738 shares during the last quarter. 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 valued at $149,287,000 after purchasing an additional 123,376 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Insider Activity

In other East West Bancorp news, Vice Chairman Douglas Paul Krause sold 12,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the transaction, the insider now directly owns 45,403 shares in the company, valued at $4,840,413.83. This represents a 20.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rudolph Estrada sold 469 shares of the firm’s stock in a transaction dated 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 directly owns 17,750 shares in the company, valued at $1,740,210. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

East West Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.60 per share. The ex-dividend date is Monday, February 3rd. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.31%. East West Bancorp’s dividend payout ratio (DPR) is 27.78%.

About East West Bancorp

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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.

See Also

Earnings History and Estimates for East West Bancorp (NASDAQ:EWBC)

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