East West Bancorp, Inc. (NASDAQ:EWBC) to Release Earnings on Thursday
East West Bancorp, Inc. (NASDAQ:EWBC) will be announcing its earnings results before the market opens on Thursday, July 20th. Analysts expect the company to announce earnings of $0.80 per share for the quarter.
East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.14. The company had revenue of $388.15 million during the quarter, compared to the consensus estimate of $314.52 million. East West Bancorp had a return on equity of 13.24% and a net margin of 34.72%. During the same period last year, the business posted $0.71 earnings per share. On average, analysts expect East West Bancorp to post $3.70 EPS for the current fiscal year and $3.80 EPS for the next fiscal year.
Shares of East West Bancorp, Inc. (NASDAQ EWBC) opened at 57.34 on Wednesday. The stock has a market capitalization of $8.28 billion, a P/E ratio of 16.91 and a beta of 1.42. East West Bancorp, Inc. has a 12 month low of $33.02 and a 12 month high of $60.42. The company’s 50 day moving average price is $57.47 and its 200-day moving average price is $54.17.
In other news, Director Molly Campbell sold 590 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $55.93, for a total value of $32,998.70. Following the completion of the sale, the director now directly owns 3,903 shares in the company, valued at approximately $218,294.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dominic Ng sold 26,000 shares of the company’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $56.09, for a total value of $1,458,340.00. Following the completion of the sale, the chief executive officer now owns 509,857 shares of the company’s stock, valued at $28,597,879.13. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,713 shares of company stock valued at $1,784,596. Company insiders own 0.88% of the company’s stock.
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Several research firms recently issued reports on EWBC. Barclays PLC reaffirmed an “overweight” rating and issued a $63.00 price objective (up from $61.00) on shares of East West Bancorp in a research report on Sunday, April 23rd. Zacks Investment Research cut East West Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, April 6th. BMO Capital Markets reaffirmed a “buy” rating and issued a $63.00 price objective on shares of East West Bancorp in a research report on Wednesday, March 22nd. Deutsche Bank AG cut East West Bancorp from a “buy” rating to a “hold” rating and set a $61.00 price objective on the stock. in a research report on Friday, July 14th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $57.00 price objective on shares of East West Bancorp in a research report on Friday, June 23rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $62.63.
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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