East West Bancorp, Inc. Forecasted to Earn Q2 2024 Earnings of $1.96 Per Share (NASDAQ:EWBC)

East West Bancorp, Inc. (NASDAQ:EWBC - Free Report) - Equities researchers at Wedbush raised their Q2 2024 earnings estimates for East West Bancorp in a report issued on Wednesday, April 24th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will earn $1.96 per share for the quarter, up from their previous estimate of $1.95. Wedbush currently has a "Outperform" rating and a $90.00 target price on the stock. The consensus estimate for East West Bancorp's current full-year earnings is $7.87 per share. Wedbush also issued estimates for East West Bancorp's Q3 2024 earnings at $2.02 EPS, FY2024 earnings at $8.05 EPS, Q2 2025 earnings at $2.05 EPS, Q3 2025 earnings at $2.17 EPS and FY2025 earnings at $8.40 EPS.

East West Bancorp (NASDAQ:EWBC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.08. East West Bancorp had a net margin of 26.78% and a return on equity of 17.66%. The company had revenue of $644.13 million during the quarter, compared to the consensus estimate of $636.77 million. During the same period in the prior year, the business earned $2.32 earnings per share. The company's revenue for the quarter was down 2.4% compared to the same quarter last year.

EWBC has been the topic of several other research reports. Citigroup boosted their price objective on shares of East West Bancorp from $85.00 to $91.00 and gave the stock a "buy" rating in a research note on Wednesday, March 13th. Keefe, Bruyette & Woods boosted their price objective on shares of East West Bancorp from $82.00 to $85.00 and gave the stock an "outperform" rating in a research note on Wednesday. Truist Financial reduced their price objective on shares of East West Bancorp from $90.00 to $86.00 and set a "buy" rating on the stock in a research note on Thursday. Barclays initiated coverage on shares of East West Bancorp in a research report on Friday, March 8th. They set an "overweight" rating and a $106.00 price target on the stock. Finally, Morgan Stanley upped their price target on shares of East West Bancorp from $76.00 to $89.00 and gave the company an "overweight" rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $84.08.

East West Bancorp Trading Down 1.1 %

Shares of East West Bancorp stock traded down $0.84 during trading on Thursday, hitting $76.36. The company's stock had a trading volume of 1,118,648 shares, compared to its average volume of 1,220,017. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.91 and a quick ratio of 0.91. East West Bancorp has a 52 week low of $41.12 and a 52 week high of $79.54. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 0.96 and a beta of 1.39. The stock has a 50-day moving average price of $74.76 and a two-hundred day moving average price of $68.40.

East West Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, May 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.88%. East West Bancorp's dividend payout ratio (DPR) is presently 27.71%.

Insider Buying and Selling

In other East West Bancorp news, Director Molly Campbell sold 1,625 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the sale, the director now owns 10,321 shares in the company, valued at approximately $797,400.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other East West Bancorp news, Director Molly Campbell sold 1,625 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the sale, the director now owns 10,321 shares in the company, valued at approximately $797,400.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jack C. Liu sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total transaction of $147,160.00. Following the sale, the director now owns 16,739 shares of the company's stock, valued at approximately $1,231,655.62. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by company insiders.

Institutional Trading of East West Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in EWBC. Riverview Trust Co purchased a new position in East West Bancorp in the 1st quarter worth $25,000. First Horizon Advisors Inc. raised its holdings in shares of East West Bancorp by 65.1% during the third quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 211 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of East West Bancorp during the fourth quarter valued at approximately $29,000. Rise Advisors LLC purchased a new stake in East West Bancorp during the first quarter valued at approximately $30,000. Finally, Mather Group LLC. purchased a new stake in East West Bancorp during the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 89.53% of the company's stock.

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.