Q3 2024 EPS Estimates for East West Bancorp, Inc. Increased by Analyst (NASDAQ:EWBC)

East West Bancorp, Inc. (NASDAQ:EWBC) – Analysts at DA Davidson boosted their Q3 2024 EPS estimates for shares of East West Bancorp in a research note issued to investors on Thursday, October 3rd. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $2.13 per share for the quarter, up from their prior forecast of $2.09. DA Davidson has a “Buy” rating and a $100.00 price objective on the stock. The consensus estimate for East West Bancorp’s current full-year earnings is $8.17 per share.

EWBC has been the topic of several other research reports. Truist Financial dropped their price objective on shares of East West Bancorp from $96.00 to $93.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Piper Sandler upped their target price on shares of East West Bancorp from $72.50 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Wedbush upped their target price on shares of East West Bancorp from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Wells Fargo & Company upped their target price on shares of East West Bancorp from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Stephens upped their target price on shares of East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, East West Bancorp has a consensus rating of “Moderate Buy” and an average price target of $91.43.

East West Bancorp Stock Performance

NASDAQ:EWBC opened at $82.92 on Friday. The firm’s 50-day moving average is $81.14 and its 200-day moving average is $77.25. East West Bancorp has a 52-week low of $50.20 and a 52-week high of $89.75. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $11.54 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 2.80 and a beta of 1.29.

East West Bancorp (NASDAQ:EWBC) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.10. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The firm had revenue of $638.00 million during the quarter, compared to analyst estimates of $631.61 million. During the same quarter in the previous year, the business earned $2.20 EPS. The business’s revenue was down .9% on a year-over-year basis.

Hedge Funds Weigh In On East West Bancorp

Large investors have recently modified their holdings of the stock. Riverview Trust Co acquired a new position in shares of East West Bancorp during the first quarter worth approximately $25,000. YHB Investment Advisors Inc. acquired a new position in East West Bancorp in the first quarter valued at approximately $27,000. Kapitalo Investimentos Ltda acquired a new position in East West Bancorp in the fourth quarter valued at approximately $29,000. Rise Advisors LLC acquired a new position in East West Bancorp in the first quarter valued at approximately $30,000. Finally, Cullen Frost Bankers Inc. acquired a new position in East West Bancorp in the second quarter valued at approximately $30,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other East West Bancorp news, Director Rudolph Estrada sold 1,896 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.77, for a total transaction of $166,411.92. Following the sale, the director now directly owns 18,470 shares of the company’s stock, valued at approximately $1,621,111.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Rudolph Estrada sold 1,896 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.77, for a total transaction of $166,411.92. Following the transaction, the director now directly owns 18,470 shares in the company, valued at approximately $1,621,111.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack C. Liu sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $83.50, for a total transaction of $167,000.00. Following the transaction, the director now owns 16,557 shares in the company, valued at $1,382,509.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,346 shares of company stock valued at $1,108,160. 1.04% of the stock is currently owned by insiders.

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.20 annualized dividend and a yield of 2.65%. East West Bancorp’s dividend payout ratio is 27.71%.

About East West Bancorp

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.