Research Analysts Issue Forecasts for East West Bancorp, Inc.’s Q3 2024 Earnings (NASDAQ:EWBC)

East West Bancorp, Inc. (NASDAQ:EWBC) – Analysts at Wedbush increased their Q3 2024 earnings estimates for shares of East West Bancorp in a research report issued to clients and investors on Wednesday, July 24th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will earn $2.06 per share for the quarter, up from their previous forecast of $2.02. Wedbush currently has a “Outperform” rating and a $100.00 target price on the stock. The consensus estimate for East West Bancorp’s current full-year earnings is $8.05 per share. Wedbush also issued estimates for East West Bancorp’s FY2024 earnings at $8.20 EPS, Q1 2025 earnings at $1.99 EPS, Q2 2025 earnings at $2.09 EPS, Q3 2025 earnings at $2.20 EPS, Q4 2025 earnings at $2.21 EPS and FY2025 earnings at $8.50 EPS.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.10. The firm had revenue of $638.00 million for the quarter, compared to analysts’ expectations of $631.61 million. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $2.20 EPS.

Several other equities research analysts have also commented on the company. DA Davidson boosted their price objective on East West Bancorp from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group dropped their price target on East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Wells Fargo & Company raised their price objective on East West Bancorp from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday. Barclays dropped their target price on shares of East West Bancorp from $106.00 to $105.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Finally, Stephens raised their price target on shares of East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.60.

East West Bancorp Stock Up 3.1 %

EWBC opened at $87.01 on Friday. The company has a market cap of $12.11 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 5.07 and a beta of 1.32. East West Bancorp has a twelve month low of $49.59 and a twelve month high of $88.16. The company has a 50-day moving average price of $74.31 and a 200 day moving average price of $74.21. The company has a quick ratio of 0.93, a current ratio of 0.92 and a debt-to-equity ratio of 0.49.

Institutional Investors Weigh In On East West Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its position in East West Bancorp by 30.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,215,701 shares of the financial services provider’s stock valued at $231,370,000 after acquiring an additional 751,944 shares in the last quarter. Miller Howard Investments Inc. NY acquired a new position in shares of East West Bancorp in the first quarter valued at approximately $39,347,000. Allspring Global Investments Holdings LLC increased its stake in East West Bancorp by 40,757.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 103,370 shares of the financial services provider’s stock worth $7,437,000 after buying an additional 103,117 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in East West Bancorp during the 1st quarter worth approximately $3,961,000. Finally, Vanguard Personalized Indexing Management LLC boosted its position in East West Bancorp by 193.3% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 17,005 shares of the financial services provider’s stock valued at $1,224,000 after buying an additional 11,208 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Insider Activity

In related news, insider Irene H. Oh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $77.58, for a total transaction of $775,800.00. Following the completion of the sale, the insider now directly owns 127,193 shares of the company’s stock, valued at approximately $9,867,632.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Irene H. Oh sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $77.58, for a total value of $775,800.00. Following the transaction, the insider now directly owns 127,193 shares in the company, valued at approximately $9,867,632.94. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Douglas Paul Krause sold 8,000 shares of East West Bancorp stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $73.76, for a total transaction of $590,080.00. Following the completion of the sale, the insider now owns 57,403 shares of the company’s stock, valued at approximately $4,234,045.28. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

East West Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 2nd will be given a $0.55 dividend. The ex-dividend date is Friday, August 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.53%. East West Bancorp’s dividend payout ratio is currently 27.71%.

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.