East West Bancorp (NASDAQ:EWBC) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

East West Bancorp (NASDAQ:EWBC) issued its earnings results on Tuesday. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.08, RTT News reports. The company had revenue of $644.13 million for the quarter, compared to analyst estimates of $636.77 million. East West Bancorp had a net margin of 29.11% and a return on equity of 18.47%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.32 EPS.

East West Bancorp Stock Up 2.2 %

Shares of EWBC stock traded up $1.66 during trading on Wednesday, reaching $76.96. The company’s stock had a trading volume of 909,582 shares, compared to its average volume of 1,210,183. The business has a fifty day moving average price of $74.58 and a 200-day moving average price of $68.28. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.02. The company has a market cap of $10.71 billion, a price-to-earnings ratio of 9.38, a price-to-earnings-growth ratio of 0.95 and a beta of 1.39. East West Bancorp has a one year low of $41.12 and a one year high of $79.54.

East West Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.86%. East West Bancorp’s dividend payout ratio is presently 26.89%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EWBC. Compass Point lifted their price objective on shares of East West Bancorp from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Truist Financial lifted their price objective on shares of East West Bancorp from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Barclays began coverage on shares of East West Bancorp in a research note on Friday, March 8th. They set an “overweight” rating and a $106.00 price objective on the stock. Jefferies Financial Group lifted their price objective on shares of East West Bancorp from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Citigroup lifted their price objective on shares of East West Bancorp from $85.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, East West Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.38.

Insider Transactions at East West Bancorp

In other news, Director Molly Campbell sold 1,625 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the sale, the director now owns 10,321 shares of the company’s stock, valued at $797,400.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Molly Campbell sold 1,625 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the sale, the director now owns 10,321 shares of the company’s stock, valued at $797,400.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.58, for a total transaction of $147,160.00. Following the sale, the director now directly owns 16,739 shares in the company, valued at $1,231,655.62. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by 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.