East West Bancorp, Inc. (NASDAQ:EWBC) – Equities research analysts at Wedbush issued their Q2 2019 earnings per share estimates for East West Bancorp in a research note issued to investors on Monday, April 22nd. Wedbush analyst D. Chiaverini anticipates that the financial services provider will earn $1.26 per share for the quarter. Wedbush currently has a “Outperform” rating and a $62.00 target price on the stock. Wedbush also issued estimates for East West Bancorp’s Q3 2019 earnings at $1.26 EPS, Q4 2019 earnings at $1.29 EPS and FY2020 earnings at $5.40 EPS.
A number of other analysts have also issued reports on the company. Zacks Investment Research upgraded East West Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday. BidaskClub lowered East West Bancorp from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. ValuEngine lowered East West Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, March 21st. Finally, TheStreet upgraded East West Bancorp from a “c+” rating to a “b” rating in a report on Thursday, February 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $65.89.
East West Bancorp (NASDAQ:EWBC) last released its earnings results on Thursday, April 18th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.06). The business had revenue of $404.59 million during the quarter, compared to analysts’ expectations of $411.11 million. East West Bancorp had a net margin of 35.42% and a return on equity of 15.78%. During the same quarter in the previous year, the company earned $1.13 EPS.
Several large investors have recently made changes to their positions in the stock. SeaBridge Investment Advisors LLC bought a new position in East West Bancorp during the fourth quarter valued at about $30,000. Gemmer Asset Management LLC raised its holdings in East West Bancorp by 69.6% during the first quarter. Gemmer Asset Management LLC now owns 714 shares of the financial services provider’s stock valued at $34,000 after buying an additional 293 shares in the last quarter. JOYN Advisors Inc. raised its holdings in East West Bancorp by 6,200.0% during the fourth quarter. JOYN Advisors Inc. now owns 1,071 shares of the financial services provider’s stock valued at $47,000 after buying an additional 1,054 shares in the last quarter. First Mercantile Trust Co. raised its holdings in East West Bancorp by 643.8% during the fourth quarter. First Mercantile Trust Co. now owns 1,190 shares of the financial services provider’s stock valued at $52,000 after buying an additional 1,030 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in East West Bancorp by 4,203.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,209,902 shares of the financial services provider’s stock valued at $74,000 after buying an additional 3,135,320 shares in the last quarter. Institutional investors and hedge funds own 88.58% of the company’s stock.
In related news, Director Rudolph Estrada sold 1,902 shares of the stock in a transaction on Monday, January 28th. The stock was sold at an average price of $52.64, for a total transaction of $100,121.28. Following the completion of the sale, the director now directly owns 15,089 shares in the company, valued at $794,284.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jack C. Liu sold 2,108 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $55.20, for a total value of $116,361.60. Following the sale, the director now owns 18,857 shares of the company’s stock, valued at $1,040,906.40. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.17%. This is a positive change from East West Bancorp’s previous quarterly dividend of $0.23. The ex-dividend date is Tuesday, April 30th. East West Bancorp’s dividend payout ratio (DPR) is currently 19.74%.
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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.
Recommended Story: Asset Allocation
Receive News & Ratings for East West Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for East West Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.