East West Bancorp (NASDAQ:EWBC) Releases Earnings Results, Beats Expectations By $0.03 EPS

East West Bancorp (NASDAQ:EWBC) released its quarterly earnings results on Tuesday. The financial services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03, Yahoo Finance reports. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $641.80 million. During the same quarter in the previous year, the firm posted $2.02 earnings per share.

East West Bancorp Trading Up 1.6 %

Shares of NASDAQ EWBC opened at $97.19 on Friday. East West Bancorp has a 12-month low of $51.40 and a 12-month high of $98.95. The company has a market cap of $13.52 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 2.08 and a beta of 1.29. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock’s 50 day simple moving average is $83.66 and its 200 day simple moving average is $78.49.

East West Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Monday, November 4th. East West Bancorp’s payout ratio is 27.71%.

Analyst Upgrades and Downgrades

EWBC has been the subject of several research analyst reports. Truist Financial increased their target price on East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup increased their price objective on shares of East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays boosted their target price on shares of East West Bancorp from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday. StockNews.com cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Wells Fargo & Company lifted their price target on East West Bancorp from $97.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.46.

Insider Buying and Selling

In other East West Bancorp news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total value of $167,000.00. Following the sale, the director now directly owns 16,557 shares in the company, valued at approximately $1,382,509.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Lisa L. Kim sold 6,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $78.68, for a total value of $472,080.00. Following the completion of the transaction, the executive vice president now directly owns 18,891 shares of the company’s stock, valued at $1,486,343.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the completion of the sale, the director now owns 16,557 shares in the company, valued at approximately $1,382,509.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is owned by company insiders.

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.