East West Bancorp (NASDAQ:EWBC – Get Free Report) issued its earnings results on Tuesday. The financial services provider reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.08, RTT News reports. East West Bancorp had a net margin of 26.78% and a return on equity of 17.66%. The company had revenue of $644.13 million for the quarter, compared to analyst estimates of $636.77 million. During the same period in the prior year, the business posted $2.32 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year.
East West Bancorp Stock Up 2.5 %
Shares of NASDAQ EWBC opened at $77.20 on Thursday. East West Bancorp has a 1 year low of $41.12 and a 1 year high of $79.54. The firm’s 50 day moving average price is $74.69 and its 200 day moving average price is $68.34. The firm has a market cap of $10.74 billion, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 0.96 and a beta of 1.39. 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 Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.85%. East West Bancorp’s dividend payout ratio (DPR) is currently 27.71%.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Analysis on East West Bancorp
Insider Buying and Selling
In related news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.58, for a total transaction of $147,160.00. Following the sale, the director now owns 16,739 shares in the company, valued at $1,231,655.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.58, for a total transaction of $147,160.00. Following the sale, the director now owns 16,739 shares in the company, valued at $1,231,655.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Molly Campbell sold 1,625 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total transaction of $125,547.50. Following the transaction, the director now directly owns 10,321 shares in the company, valued at approximately $797,400.46. The disclosure for this sale can be found here. 1.04% of the stock is owned by company insiders.
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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.
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