East West Bancorp (NASDAQ:EWBC – Get Free Report) released its quarterly earnings results on Tuesday. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.10, Briefing.com reports. The business had revenue of $638.00 million during the quarter, compared to the consensus estimate of $631.61 million. East West Bancorp had a return on equity of 16.85% and a net margin of 25.40%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.20 EPS.
East West Bancorp Price Performance
EWBC traded up $2.60 during trading on Thursday, reaching $87.01. 1,263,318 shares of the company were exchanged, compared to its average volume of 1,047,168. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The company has a market cap of $12.11 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of 5.04 and a beta of 1.32. East West Bancorp has a 12-month low of $49.59 and a 12-month high of $88.16. The company’s 50-day moving average is $74.12 and its two-hundred day moving average is $74.12.
East West Bancorp Dividend Announcement
The business 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 dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.53%. East West Bancorp’s dividend payout ratio is currently 27.71%.
Analysts Set New Price Targets
Read Our Latest Research Report on EWBC
Insider Buying and Selling at East West Bancorp
In other news, insider Irene H. Oh sold 10,000 shares of the firm’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 completion of the transaction, the insider now directly owns 127,193 shares in the company, valued at $9,867,632.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other East West Bancorp news, 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 directly owns 57,403 shares in the company, valued at $4,234,045.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Irene H. Oh sold 10,000 shares of the stock in a transaction on 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 transaction, the insider now directly owns 127,193 shares in the company, valued at approximately $9,867,632.94. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.
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.
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