East West Bancorp, Inc. (NASDAQ:EWBC) - Analysts at Wedbush lifted their Q3 2017 earnings per share estimates for East West Bancorp in a report issued on Thursday. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will earn $0.86 per share for the quarter, up from their previous forecast of $0.85. Wedbush currently has a “Outperform” rating and a $68.00 target price on the stock. Wedbush also issued estimates for East West Bancorp’s Q4 2017 earnings at $0.89 EPS, Q2 2018 earnings at $0.96 EPS, Q3 2018 earnings at $0.98 EPS and Q4 2018 earnings at $1.02 EPS.
East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.81. The business had revenue of $337.49 million during the quarter, compared to the consensus estimate of $329.32 million. East West Bancorp had a return on equity of 13.31% and a net margin of 34.63%. During the same period last year, the company earned $0.71 earnings per share. COPYRIGHT VIOLATION WARNING: This article was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this article on another site, it was illegally stolen and reposted in violation of US and international copyright law. The original version of this article can be read at https://stocknewstimes.com/2017/07/23/q3-2017-earnings-estimate-for-east-west-bancorp-inc-issued-by-wedbush-ewbc.html.
A number of other analysts have also commented on the company. Deutsche Bank AG lowered East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 target price for the company. in a research report on Friday, July 14th. BidaskClub lowered East West Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BMO Capital Markets lowered East West Bancorp from an “outperform” rating to a “market perform” rating and set a $63.00 target price for the company. in a research report on Friday, July 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $60.00 target price (up from $59.00) on shares of East West Bancorp in a research report on Thursday, July 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $57.00 target price on shares of East West Bancorp in a research report on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. East West Bancorp currently has an average rating of “Hold” and an average price target of $62.63.
East West Bancorp (NASDAQ:EWBC) opened at 57.00 on Friday. East West Bancorp has a 12-month low of $33.02 and a 12-month high of $60.42. The company has a market capitalization of $8.23 billion, a P/E ratio of 16.81 and a beta of 1.42. The company’s 50 day moving average price is $57.62 and its 200-day moving average price is $54.22.
The business also recently disclosed a dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, July 28th. East West Bancorp’s dividend payout ratio is currently 22.92%.
In other East West Bancorp news, Director Jack C. Liu sold 1,123 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 23,669 shares of the company’s stock, valued at approximately $1,396,471. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Molly Campbell sold 590 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $55.93, for a total value of $32,998.70. Following the sale, the director now directly owns 3,903 shares of the company’s stock, valued at $218,294.79. The disclosure for this sale can be found here. Insiders have sold a total of 31,713 shares of company stock valued at $1,784,596 over the last three months. Corporate insiders own 0.88% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Washington Trust Bank raised its position in East West Bancorp by 3.7% in the first quarter. Washington Trust Bank now owns 2,380 shares of the financial services provider’s stock valued at $123,000 after buying an additional 86 shares in the last quarter. Wright Investors Service Inc. raised its position in East West Bancorp by 0.6% in the second quarter. Wright Investors Service Inc. now owns 14,145 shares of the financial services provider’s stock valued at $829,000 after buying an additional 90 shares in the last quarter. Quantitative Systematic Strategies LLC raised its position in East West Bancorp by 1.3% in the second quarter. Quantitative Systematic Strategies LLC now owns 10,354 shares of the financial services provider’s stock valued at $606,000 after buying an additional 129 shares in the last quarter. World Asset Management Inc raised its position in East West Bancorp by 2.1% in the first quarter. World Asset Management Inc now owns 8,944 shares of the financial services provider’s stock valued at $462,000 after buying an additional 181 shares in the last quarter. Finally, Stephens Inc. AR raised its position in East West Bancorp by 3.8% in the first quarter. Stephens Inc. AR now owns 9,438 shares of the financial services provider’s stock valued at $487,000 after buying an additional 348 shares in the last quarter. 87.68% of the stock is owned by institutional investors.
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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