East West Bancorp (NASDAQ:EWBC) Posts Earnings Results, Beats Expectations By $0.10 EPS

East West Bancorp (NASDAQ:EWBC) 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

A number of equities research analysts recently commented on EWBC shares. Piper Sandler increased their price target on East West Bancorp from $72.50 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of East West Bancorp from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday. Jefferies Financial Group decreased their price objective on shares of East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Wedbush upped their target price on East West Bancorp from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Barclays dropped their price target on East West Bancorp from $106.00 to $105.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, East West Bancorp currently has an average rating of “Moderate Buy” and an average target price of $88.60.

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.