East West Bancorp, Inc. (NASDAQ:EWBC) is set to issue its quarterly earnings data before the market opens on Thursday, July 20th. Analysts expect the company to announce earnings of $0.80 per share for the quarter.
East West Bancorp (NASDAQ:EWBC) last released its earnings results on Wednesday, April 19th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.14. East West Bancorp had a net margin of 34.72% and a return on equity of 13.24%. The business had revenue of $388.15 million during the quarter, compared to analysts’ expectations of $314.52 million. During the same period last year, the business earned $0.71 earnings per share. On average, analysts expect East West Bancorp to post $3.70 EPS for the current fiscal year and $3.80 EPS for the next fiscal year.
East West Bancorp, Inc. (NASDAQ:EWBC) opened at 57.48 on Tuesday. The company has a 50 day moving average of $56.22 and a 200 day moving average of $53.40. East West Bancorp, Inc. has a 1-year low of $33.02 and a 1-year high of $60.42. The company has a market capitalization of $8.30 billion, a PE ratio of 16.95 and a beta of 1.42.
A number of research analysts have issued reports on the company. Deutsche Bank AG downgraded East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 price objective for the company. in a research note on Friday. BidaskClub downgraded East West Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BMO Capital Markets downgraded East West Bancorp from an “outperform” rating to a “market perform” rating and set a $63.00 price objective for the company. in a research note on Friday, July 7th. Morgan Stanley restated an “equal weight” rating and issued a $60.00 price objective (up previously from $59.00) on shares of East West Bancorp in a research note on Thursday, July 6th. Finally, Wedbush restated an “outperform” rating and issued a $68.00 price objective on shares of East West Bancorp in a research note on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. East West Bancorp presently has a consensus rating of “Hold” and an average target price of $62.63.
In other news, Director Jack C. Liu sold 1,123 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $59.00, for a total transaction of $66,257.00. Following the transaction, the director now owns 23,669 shares of the company’s stock, valued at approximately $1,396,471. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dominic Ng sold 26,200 shares of the company’s stock in a transaction on Wednesday, April 19th. The shares were sold at an average price of $51.10, for a total value of $1,338,820.00. Following the transaction, the chief executive officer now directly owns 517,557 shares in the company, valued at approximately $26,447,162.70. The disclosure for this sale can be found here. Insiders have sold a total of 57,913 shares of company stock worth $3,123,416 in the last ninety days. Insiders own 0.88% of the company’s stock.
East West Bancorp Company Profile
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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