East West Bancorp (EWBC) to Release Earnings on Tuesday

East West Bancorp (NASDAQ:EWBC) is scheduled to release its earnings data after the market closes on Tuesday, April 23rd. Analysts expect East West Bancorp to post earnings of $2.01 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

East West Bancorp (NASDAQ:EWBC) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. East West Bancorp had a net margin of 29.11% and a return on equity of 18.47%. The company had revenue of $654.70 million during the quarter, compared to the consensus estimate of $641.91 million. During the same quarter in the prior year, the company posted $2.37 EPS. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, analysts expect East West Bancorp to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

East West Bancorp Trading Up 1.5 %

NASDAQ EWBC opened at $72.88 on Friday. East West Bancorp has a 12 month low of $41.12 and a 12 month high of $79.54. The company has a 50-day moving average of $74.41 and a 200-day moving average of $67.83. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $10.14 billion, a P/E ratio of 8.91, a P/E/G ratio of 0.91 and a beta of 1.39.

East West Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Friday, February 2nd were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.02%. This is an increase from East West Bancorp’s previous quarterly dividend of $0.48. East West Bancorp’s dividend payout ratio is currently 26.89%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On East West Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Industrial Alliance Investment Management Inc. bought a new position in East West Bancorp during the fourth quarter worth $53,000. Steward Partners Investment Advisory LLC lifted its stake in East West Bancorp by 20.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,197 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 201 shares during the last quarter. Ossiam lifted its stake in East West Bancorp by 29.4% during the first quarter. Ossiam now owns 1,842 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 418 shares during the last quarter. State of Wyoming lifted its stake in East West Bancorp by 61.4% during the second quarter. State of Wyoming now owns 2,196 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 835 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in East West Bancorp by 48.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,268 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 742 shares during the last quarter. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EWBC. Truist Financial upped their price objective on shares of East West Bancorp from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Piper Sandler upped their price objective on shares of East West Bancorp from $72.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Citigroup increased their target price on shares of East West Bancorp from $85.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Compass Point increased their target price on shares of East West Bancorp from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Finally, Wedbush reissued an “outperform” rating and set a $86.00 target price on shares of East West Bancorp in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, East West Bancorp has an average rating of “Moderate Buy” and an average target price of $83.15.

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.