FY2024 EPS Estimates for East West Bancorp, Inc. Reduced by DA Davidson (NASDAQ:EWBC)

East West Bancorp, Inc. (NASDAQ:EWBC) – Equities research analysts at DA Davidson cut their FY2024 earnings per share estimates for shares of East West Bancorp in a report released on Wednesday, April 17th. DA Davidson analyst G. Tenner now anticipates that the financial services provider will earn $8.21 per share for the year, down from their prior forecast of $8.28. The consensus estimate for East West Bancorp’s current full-year earnings is $7.87 per share. DA Davidson also issued estimates for East West Bancorp’s FY2025 earnings at $8.34 EPS.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.13. East West Bancorp had a return on equity of 18.47% and a net margin of 29.11%. The company had revenue of $654.70 million during the quarter, compared to analysts’ expectations of $641.91 million. During the same quarter in the prior year, the business posted $2.37 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year.

Several other research analysts have also recently issued reports on the company. Citigroup increased their price target on East West Bancorp from $85.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Morgan Stanley increased their price target on East West Bancorp from $76.00 to $89.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Jefferies Financial Group increased their price target on East West Bancorp from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Barclays assumed coverage on East West Bancorp in a report on Friday, March 8th. They issued an “overweight” rating and a $106.00 price objective for the company. Finally, Truist Financial upped their price objective on East West Bancorp from $85.00 to $90.00 and gave the company a “buy” rating in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, East West Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $83.15.

East West Bancorp Trading Up 0.3 %

NASDAQ:EWBC opened at $71.80 on Thursday. East West Bancorp has a 1 year low of $41.12 and a 1 year high of $79.54. The stock has a market cap of $9.99 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 0.91 and a beta of 1.39. The business has a fifty day moving average of $74.34 and a 200-day moving average of $67.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 0.91.

East West Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Friday, February 2nd were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.06%. This is an increase from East West Bancorp’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, February 1st. East West Bancorp’s dividend payout ratio is currently 26.89%.

Insider Activity

In other news, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 16,739 shares of the company’s stock, valued at $1,231,655.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 16,739 shares of the company’s stock, valued at $1,231,655.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Molly Campbell sold 1,625 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the transaction, the director now directly owns 10,321 shares in the company, valued at $797,400.46. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Federated Hermes Inc. increased its position in East West Bancorp by 5.0% in the 3rd quarter. Federated Hermes Inc. now owns 31,667 shares of the financial services provider’s stock worth $1,669,000 after purchasing an additional 1,501 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in East West Bancorp by 92.7% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 48,562 shares of the financial services provider’s stock worth $2,560,000 after purchasing an additional 23,361 shares during the last quarter. Vanguard Group Inc. increased its position in East West Bancorp by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 15,243,818 shares of the financial services provider’s stock worth $803,502,000 after purchasing an additional 215,281 shares during the last quarter. Trillium Asset Management LLC increased its position in East West Bancorp by 12.2% in the 3rd quarter. Trillium Asset Management LLC now owns 279,179 shares of the financial services provider’s stock worth $14,715,000 after purchasing an additional 30,466 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in East West Bancorp by 8.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 676,615 shares of the financial services provider’s stock worth $35,664,000 after purchasing an additional 50,799 shares during the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

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.