Analysts Issue Forecasts for East West Bancorp, Inc.’s FY2019 Earnings (EWBC)
East West Bancorp, Inc. (NASDAQ:EWBC) – Equities researchers at Wedbush issued their FY2019 earnings estimates for East West Bancorp in a research report issued to clients and investors on Thursday. Wedbush analyst D. Chiaverini forecasts that the financial services provider will earn $4.61 per share for the year. Wedbush currently has a “Outperform” rating and a $66.00 target price on the stock.
Several other brokerages also recently issued reports on EWBC. BMO Capital Markets upped their price objective on East West Bancorp from $61.00 to $63.00 and gave the company a “market perform” rating in a research report on Friday, October 20th. Raymond James Financial upgraded East West Bancorp from an “underperform” rating to a “market perform” rating in a research report on Thursday, October 5th. Zacks Investment Research downgraded East West Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Morgan Stanley restated an “equal weight” rating and issued a $63.00 price objective (up from $61.00) on shares of East West Bancorp in a research report on Wednesday, October 4th. Finally, SunTrust Banks restated a “buy” rating and issued a $65.00 price objective on shares of East West Bancorp in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $66.27.
Shares of East West Bancorp (NASDAQ EWBC) traded up $0.28 during trading hours on Friday, hitting $61.21. The stock had a trading volume of 826,700 shares, compared to its average volume of 841,367. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.99 and a quick ratio of 0.99. East West Bancorp has a twelve month low of $48.07 and a twelve month high of $63.92. The stock has a market capitalization of $9,000.00, a P/E ratio of 16.77, a P/E/G ratio of 1.51 and a beta of 1.46.
East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.03. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The business had revenue of $348.97 million for the quarter, compared to the consensus estimate of $349.28 million. During the same period in the prior year, the business earned $0.76 earnings per share. The business’s revenue was up 15.0% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in East West Bancorp by 11.5% during the second quarter. BlackRock Inc. now owns 13,329,464 shares of the financial services provider’s stock worth $780,841,000 after buying an additional 1,373,528 shares during the period. Vanguard Group Inc. increased its stake in East West Bancorp by 7.5% during the second quarter. Vanguard Group Inc. now owns 12,734,214 shares of the financial services provider’s stock worth $745,971,000 after acquiring an additional 893,764 shares during the last quarter. State Street Corp increased its stake in East West Bancorp by 16.5% during the second quarter. State Street Corp now owns 7,099,748 shares of the financial services provider’s stock worth $415,902,000 after acquiring an additional 1,004,860 shares during the last quarter. Boston Partners increased its stake in East West Bancorp by 0.8% during the third quarter. Boston Partners now owns 6,619,308 shares of the financial services provider’s stock worth $395,702,000 after acquiring an additional 50,476 shares during the last quarter. Finally, Macquarie Group Ltd. increased its stake in East West Bancorp by 4.2% during the third quarter. Macquarie Group Ltd. now owns 4,440,696 shares of the financial services provider’s stock worth $265,465,000 after acquiring an additional 178,496 shares during the last quarter. Hedge funds and other institutional investors own 91.37% of the company’s stock.
In related news, insider Douglas Paul Krause sold 5,000 shares of the stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $61.26, for a total transaction of $306,300.00. Following the transaction, the insider now directly owns 18,015 shares in the company, valued at $1,103,598.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack C. Liu sold 2,200 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $58.07, for a total value of $127,754.00. Following the transaction, the director now owns 23,599 shares in the company, valued at $1,370,393.93. The disclosure for this sale can be found here. Insiders have sold 17,200 shares of company stock worth $1,044,054 over the last quarter. 0.88% of the stock is currently owned by company insiders.
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East West Bancorp Company Profile
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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