Equities Analysts Offer Predictions for East West Bancorp, Inc.’s FY2024 Earnings (NASDAQ:EWBC)

East West Bancorp, Inc. (NASDAQ:EWBC) – Investment analysts at DA Davidson dropped their FY2024 earnings per share (EPS) estimates for shares of East West Bancorp in a research report issued to clients and investors on Thursday, October 3rd. DA Davidson analyst G. Tenner now expects that the financial services provider will earn $8.26 per share for the year, down from their prior estimate of $8.28. DA Davidson currently 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. DA Davidson also issued estimates for East West Bancorp’s FY2025 earnings at $8.33 EPS.

A number of other research firms have also weighed in on EWBC. Wedbush raised their price objective on East West Bancorp from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Jefferies Financial Group lowered their price target on East West Bancorp from $94.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Morgan Stanley raised their price objective on shares of East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. StockNews.com upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Piper Sandler boosted their price objective on shares of East West Bancorp from $72.50 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $91.43.

East West Bancorp Price Performance

Shares of EWBC opened at $83.23 on Monday. East West Bancorp has a fifty-two week low of $50.23 and a fifty-two week high of $89.75. The firm’s 50-day simple moving average is $81.07 and its two-hundred day simple moving average is $77.32. The stock has a market cap of $11.58 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 2.80 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92.

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

East West Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Friday, August 2nd. East West Bancorp’s dividend payout ratio (DPR) is presently 27.71%.

Insider Buying and Selling at East West Bancorp

In other East West Bancorp news, Director Rudolph Estrada sold 1,896 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $87.77, for a total transaction of $166,411.92. Following the completion of the sale, the director now directly owns 18,470 shares in the company, valued at $1,621,111.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Rudolph Estrada sold 1,896 shares of East West Bancorp stock in a transaction 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 owns 18,470 shares in the company, valued at $1,621,111.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lisa L. Kim sold 6,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $78.68, for a total transaction of $472,080.00. Following the sale, the executive vice president now directly owns 18,891 shares of the company’s stock, valued at approximately $1,486,343.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,346 shares of company stock valued at $1,108,160. 1.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EWBC. Capital Research Global Investors purchased a new stake in East West Bancorp in the 1st quarter worth approximately $338,142,000. Jupiter Asset Management Ltd. purchased a new stake in shares of East West Bancorp in the second quarter worth $59,460,000. Lord Abbett & CO. LLC increased its stake in shares of East West Bancorp by 112.5% in the first quarter. Lord Abbett & CO. LLC now owns 1,441,198 shares of the financial services provider’s stock worth $114,013,000 after purchasing an additional 762,958 shares in the last quarter. Jennison Associates LLC raised its position in shares of East West Bancorp by 82.2% during the 1st quarter. Jennison Associates LLC now owns 1,687,555 shares of the financial services provider’s stock valued at $133,502,000 after purchasing an additional 761,347 shares during the period. Finally, Miller Howard Investments Inc. NY purchased a new position in shares of East West Bancorp during the 1st quarter valued at $39,347,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

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.