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

East West Bancorp, Inc. (NASDAQ:EWBC) – Equities researchers at DA Davidson boosted their Q3 2024 earnings estimates for shares of East West Bancorp in a report issued on Thursday, October 3rd. DA Davidson analyst G. Tenner now forecasts that the financial services provider will earn $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.

A number of other equities research analysts also recently commented on the stock. Stephens increased their price objective on shares of East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Wells Fargo & Company increased 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 report on Tuesday, October 1st. Piper Sandler increased 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 report on Wednesday, July 24th. Truist Financial dropped their target price on shares of East West Bancorp from $96.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, Morgan Stanley increased their target price on shares of East West Bancorp from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.43.

East West Bancorp Price Performance

East West Bancorp stock opened at $82.92 on Friday. The firm has a market cap of $11.54 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 2.80 and a beta of 1.29. East West Bancorp has a 52-week low of $50.20 and a 52-week high of $89.75. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $81.14 and its two-hundred day moving average is $77.27.

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

Institutional Trading of East West Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in EWBC. Campbell & CO Investment Adviser LLC acquired a new stake in shares of East West Bancorp in the fourth quarter valued at about $389,000. KBC Group NV acquired a new stake in shares of East West Bancorp in the fourth quarter valued at about $183,000. Goldman Sachs Group Inc. lifted its stake in shares of East West Bancorp by 8.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,234,198 shares of the financial services provider’s stock valued at $88,801,000 after purchasing an additional 97,567 shares during the period. First Trust Advisors LP lifted its stake in shares of East West Bancorp by 3.6% in the fourth quarter. First Trust Advisors LP now owns 887,897 shares of the financial services provider’s stock valued at $63,884,000 after purchasing an additional 30,966 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of East West Bancorp by 223.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 23,723 shares of the financial services provider’s stock valued at $1,707,000 after purchasing an additional 16,395 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

Insider Transactions at East West Bancorp

In other news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the completion of the sale, the director now owns 16,557 shares in the company, valued at approximately $1,382,509.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $83.50, for a total value of $167,000.00. Following the completion of the sale, the director now owns 16,557 shares in the company, valued at approximately $1,382,509.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rudolph Estrada sold 1,896 shares of the firm’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 completion of the sale, the director now owns 18,470 shares of the company’s stock, valued at $1,621,111.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,346 shares of company stock worth $1,108,160. Company insiders own 1.04% of the company’s stock.

East West Bancorp Announces Dividend

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