Brokers Issue Forecasts for East West Bancorp, Inc.’s Q3 2024 Earnings (NASDAQ:EWBC)

East West Bancorp, Inc. (NASDAQ:EWBC) – Stock analysts at Zacks Research increased their Q3 2024 earnings estimates for shares of East West Bancorp in a research note issued on Thursday, October 10th. Zacks Research analyst R. Department now expects that the financial services provider will post earnings of $1.99 per share for the quarter, up from their prior forecast of $1.96. The consensus estimate for East West Bancorp’s current full-year earnings is $8.20 per share. Zacks Research also issued estimates for East West Bancorp’s Q4 2024 earnings at $1.99 EPS, FY2024 earnings at $8.11 EPS and Q4 2025 earnings at $2.22 EPS.

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

A number of other equities research analysts have also recently commented on the company. Jefferies Financial Group cut their target price on East West Bancorp from $94.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Barclays raised 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. DA Davidson boosted their price objective on East West Bancorp from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their target price on East West Bancorp from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Finally, Stephens boosted their target price on shares of East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.77.

East West Bancorp Price Performance

EWBC stock opened at $88.33 on Friday. East West Bancorp has a 1 year low of $50.23 and a 1 year high of $89.75. The company has a market cap of $12.29 billion, a P/E ratio of 11.12, a PEG ratio of 2.08 and a beta of 1.29. The firm has a 50-day moving average of $81.13 and a 200 day moving average of $77.56. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92.

Institutional Trading of East West Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Miller Howard Investments Inc. NY acquired a new stake in shares of East West Bancorp in the first quarter valued at $39,347,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in East West Bancorp during the first quarter worth about $3,961,000. Manning & Napier Advisors LLC acquired a new stake in shares of East West Bancorp during the second quarter worth about $3,832,000. Inspire Investing LLC boosted its stake in shares of East West Bancorp by 197.8% in the first quarter. Inspire Investing LLC now owns 15,860 shares of the financial services provider’s stock valued at $1,255,000 after purchasing an additional 10,535 shares during the period. Finally, Diversify Advisory Services LLC acquired a new position in shares of East West Bancorp in the first quarter valued at approximately $909,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

Insiders Place Their Bets

In other news, Director Rudolph Estrada sold 1,896 shares of East West Bancorp stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.77, for a total transaction of $166,411.92. Following the transaction, the director now owns 18,470 shares in the company, valued at $1,621,111.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other East West Bancorp news, EVP Lisa L. Kim sold 6,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $78.68, for a total transaction of $472,080.00. Following the completion of the transaction, the executive vice president now owns 18,891 shares of the company’s stock, valued at $1,486,343.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Rudolph Estrada sold 1,896 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.77, for a total transaction of $166,411.92. Following the completion of the sale, the director now directly owns 18,470 shares in the company, valued at $1,621,111.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,346 shares of company stock valued at $1,108,160 in the last ninety days. 1.04% of the stock is currently owned by corporate insiders.

East West Bancorp Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.49%. East West Bancorp’s payout ratio is 27.71%.

About East West Bancorp

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.