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

Key Points

• East West Bancorp declared a quarterly dividend of $0.80 per share, payable on August 17 to shareholders of record on August 3. The dividend implies an annualized payout of $3.20 and a yield of about 2.4%.
• The bank has raised its dividend every year for the past 8 years and has grown it modestly at an average rate of 0.2% annually over the last three years. Its payout ratio of 33.5% suggests the dividend is well covered by earnings.
• East West Bancorp also reported better-than-expected quarterly results, with EPS of $2.63 versus estimates of $2.61 and revenue of $791.14 million versus estimates of $784.47 million. Shares were down 1.3% in Wednesday trading despite the earnings beat.

East West Bancorp, Inc. (NASDAQ:EWBC - Get Free Report) declared a quarterly dividend on Tuesday, July 21st. Shareholders of record on Monday, August 3rd will be given a dividend of 0.80 per share by the financial services provider on Monday, August 17th. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, August 3rd.

East West Bancorp has increased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 8 years. East West Bancorp has a dividend payout ratio of 33.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect East West Bancorp to earn $11.18 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 28.6%.

East West Bancorp Stock Down 1.3%

Shares of NASDAQ:EWBC traded down $1.71 during trading hours on Wednesday, hitting $131.69. The company's stock had a trading volume of 790,959 shares, compared to its average volume of 1,046,388. The firm's fifty day moving average price is $127.49 and its 200 day moving average price is $119.21. East West Bancorp has a 52 week low of $92.67 and a 52 week high of $136.24. The company has a market capitalization of $18.04 billion, a price-to-earnings ratio of 13.16, a P/E/G ratio of 1.54 and a beta of 0.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.02. The company had revenue of $791.14 million for the quarter, compared to analyst estimates of $784.47 million. East West Bancorp had a net margin of 29.59% and a return on equity of 16.00%. During the same period last year, the company posted $2.24 earnings per share. As a group, research analysts expect that East West Bancorp will post 10.56 EPS for the current year.

About East West Bancorp

East West Bancorp, Inc is a bank holding company and the parent of East West Bank, one of the largest independent banks headquartered in Southern California. As a full-service commercial bank, it provides a broad range of financial products and services to business and individual customers, including commercial and residential real estate lending, working capital lines of credit, trade finance, and deposit and treasury management services. The company caters to both large and middle-market businesses, leveraging its expertise to serve clients engaged in cross-border trade and investment between the United States and Greater China.

Founded in Los Angeles in the early 1970s, East West Bank has grown steadily through organic expansion and strategic branch openings.

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