DA Davidson Weighs in on East West Bancorp, Inc.’s Q2 2024 Earnings (NASDAQ:EWBC)

East West Bancorp, Inc. (NASDAQ:EWBC) – DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of East West Bancorp in a report released on Thursday, April 25th. DA Davidson analyst G. Tenner anticipates that the financial services provider will post earnings per share of $1.98 for the quarter. The consensus estimate for East West Bancorp’s current full-year earnings is $7.92 per share. DA Davidson also issued estimates for East West Bancorp’s FY2024 earnings at $8.09 EPS and FY2025 earnings at $8.22 EPS.

East West Bancorp (NASDAQ:EWBC) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 EPS for the quarter, topping the consensus estimate of $2.00 by $0.08. East West Bancorp had a return on equity of 17.43% and a net margin of 26.78%. The business had revenue of $644.13 million during the quarter, compared to the consensus estimate of $636.77 million. During the same quarter last year, the company earned $2.32 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year.

A number of other analysts also recently issued reports on EWBC. Compass Point lifted their price target on East West Bancorp from $83.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Citigroup lifted their price target on East West Bancorp from $85.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Piper Sandler lifted their price target on East West Bancorp from $72.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Wedbush reissued an “outperform” rating and set a $90.00 price objective on shares of East West Bancorp in a report on Wednesday. Finally, Morgan Stanley raised their price objective on East West Bancorp from $76.00 to $89.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, East West Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $84.08.

East West Bancorp Stock Down 1.1 %

Shares of NASDAQ EWBC opened at $76.36 on Friday. The company has a market cap of $10.62 billion, a P/E ratio of 9.62, a P/E/G ratio of 0.97 and a beta of 1.39. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The business has a 50-day simple moving average of $74.76 and a two-hundred day simple moving average of $68.40. East West Bancorp has a 52 week low of $41.12 and a 52 week high of $79.54.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in East West Bancorp by 1.4% during the third quarter. Vanguard Group Inc. now owns 15,243,818 shares of the financial services provider’s stock valued at $803,502,000 after acquiring an additional 215,281 shares during the last quarter. Capital International Investors increased its position in East West Bancorp by 1.4% during the fourth quarter. Capital International Investors now owns 11,582,254 shares of the financial services provider’s stock valued at $833,469,000 after acquiring an additional 159,963 shares during the last quarter. FMR LLC increased its position in East West Bancorp by 3.8% during the third quarter. FMR LLC now owns 8,416,534 shares of the financial services provider’s stock valued at $443,635,000 after acquiring an additional 306,473 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in East West Bancorp by 30.5% during the fourth 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 during the last quarter. Finally, Boston Partners increased its position in East West Bancorp by 48.5% during the fourth quarter. Boston Partners now owns 2,713,987 shares of the financial services provider’s stock valued at $195,279,000 after acquiring an additional 886,841 shares during the last quarter. 89.53% of the stock is owned by institutional investors.

Insider Activity at East West Bancorp

In other East West Bancorp news, Director Molly Campbell sold 1,625 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total value of $125,547.50. Following the sale, the director now directly owns 10,321 shares of the company’s stock, valued at $797,400.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Molly Campbell sold 1,625 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total transaction of $125,547.50. Following the transaction, the director now directly owns 10,321 shares of the company’s stock, valued at $797,400.46. The sale was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $73.58, for a total value of $147,160.00. Following the transaction, 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. 1.04% of the stock is currently owned by corporate insiders.

East West Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.88%. East West Bancorp’s dividend payout ratio is presently 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.