Brokerages expect East West Bancorp, Inc. (NASDAQ:EWBC) to announce $424.47 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for East West Bancorp’s earnings. The lowest sales estimate is $416.90 million and the highest is $428.90 million. East West Bancorp reported sales of $395.22 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.4%. The business is expected to report its next earnings results on Thursday, October 17th.
On average, analysts expect that East West Bancorp will report full-year sales of $1.67 billion for the current financial year, with estimates ranging from $1.66 billion to $1.69 billion. For the next year, analysts forecast that the company will post sales of $1.75 billion, with estimates ranging from $1.68 billion to $1.79 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover East West Bancorp.
East West Bancorp (NASDAQ:EWBC) last released its earnings results on Thursday, July 18th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.24. East West Bancorp had a net margin of 32.92% and a return on equity of 15.42%. The firm had revenue of $420.09 million during the quarter, compared to analyst estimates of $416.35 million. During the same period last year, the business earned $1.18 earnings per share.
Several equities analysts have recently issued reports on EWBC shares. Raymond James lowered shares of East West Bancorp from a “market perform” rating to an “underperform” rating in a report on Monday, July 8th. ValuEngine lowered shares of East West Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, August 2nd. Morgan Stanley upgraded shares of East West Bancorp from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $59.00 to $57.00 in a report on Monday, July 1st. BidaskClub lowered shares of East West Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Wedbush restated an “outperform” rating and issued a $50.00 price objective (down from $57.00) on shares of East West Bancorp in a report on Monday, June 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $61.33.
A number of hedge funds and other institutional investors have recently made changes to their positions in EWBC. Berman Capital Advisors LLC raised its holdings in East West Bancorp by 170.4% in the 1st quarter. Berman Capital Advisors LLC now owns 622 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 392 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in East West Bancorp by 44.3% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 677 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 208 shares during the last quarter. Gemmer Asset Management LLC raised its holdings in East West Bancorp by 69.6% in the 1st quarter. Gemmer Asset Management LLC now owns 714 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 293 shares during the last quarter. Advantage Investment Management LLC raised its holdings in East West Bancorp by 64.1% in the 2nd quarter. Advantage Investment Management LLC now owns 717 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 280 shares during the last quarter. Finally, Icon Wealth Partners LLC purchased a new position in East West Bancorp in the 1st quarter worth approximately $37,000. Institutional investors own 87.96% of the company’s stock.
Shares of EWBC stock traded up $1.52 during trading hours on Tuesday, hitting $39.91. 1,081,600 shares of the company’s stock traded hands, compared to its average volume of 936,213. The stock’s fifty day simple moving average is $45.34 and its two-hundred day simple moving average is $48.54. East West Bancorp has a 12-month low of $38.24 and a 12-month high of $66.00. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 8.56, a PEG ratio of 0.84 and a beta of 1.62. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.19.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $0.275 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.10 dividend on an annualized basis and a yield of 2.76%. East West Bancorp’s payout ratio is currently 23.61%.
About East West Bancorp
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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.
See Also: Return on Equity (ROE)
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