East West Bancorp (NASDAQ:EWBC) Issues Earnings Results, Beats Estimates By $0.27 EPS

East West Bancorp (NASDAQ:EWBC) released its quarterly earnings data on Tuesday. The financial services provider reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.27, Zacks reports. East West Bancorp had a return on equity of 15.85% and a net margin of 27.16%.The firm had revenue of $778.00 million for the quarter, compared to analysts’ expectations of $722.75 million. During the same period in the prior year, the firm posted $2.14 earnings per share. The firm’s quarterly revenue was up 18.4% on a year-over-year basis.

East West Bancorp Stock Performance

Shares of EWBC stock opened at $102.36 on Thursday. The stock’s 50-day moving average is $104.96 and its two-hundred day moving average is $97.66. The firm has a market cap of $14.11 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 1.34 and a beta of 0.93. East West Bancorp has a 1 year low of $68.27 and a 1 year high of $113.95. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.89 and a current ratio of 0.89.

East West Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, November 3rd. East West Bancorp’s payout ratio is 28.04%.

Insider Buying and Selling

In related news, Director Jack C. Liu sold 1,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $105.00, for a total value of $105,000.00. Following the transaction, the director owned 14,974 shares in the company, valued at $1,572,270. The trade was a 6.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Irene H. Oh sold 15,051 shares of the business’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $106.73, for a total value of $1,606,393.23. Following the completion of the transaction, the insider owned 113,353 shares in the company, valued at $12,098,165.69. This trade represents a 11.72% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,240 shares of company stock worth $7,379,678. Corporate insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On East West Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. boosted its holdings in East West Bancorp by 66.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 801 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 321 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of East West Bancorp during the 2nd quarter valued at approximately $86,000. State of Wyoming acquired a new stake in shares of East West Bancorp in the 2nd quarter worth approximately $142,000. Evergreen Capital Management LLC acquired a new stake in shares of East West Bancorp in the 2nd quarter worth approximately $205,000. Finally, Diversify Advisory Services LLC acquired a new stake in shares of East West Bancorp in the 2nd quarter worth approximately $266,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on EWBC shares. TD Cowen started coverage on East West Bancorp in a report on Thursday, September 25th. They issued a “buy” rating and a $139.00 price objective on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of East West Bancorp in a report on Wednesday, October 8th. Cowen began coverage on East West Bancorp in a research report on Wednesday, September 24th. They issued a “buy” rating on the stock. Morgan Stanley upped their price target on East West Bancorp from $111.00 to $126.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. Finally, Cantor Fitzgerald started coverage on East West Bancorp in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $124.00 price objective for the company. Eleven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $122.14.

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.