East West Bancorp (NASDAQ:EWBC) posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.17 EPS for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.03), Briefing.com reports. East West Bancorp had a net margin of 31.98% and a return on equity of 14.90%. The company had revenue of $421.28 million for the quarter, compared to analyst estimates of $418.32 million. During the same quarter in the prior year, the business earned $1.17 EPS. East West Bancorp’s revenue was up 6.6% compared to the same quarter last year.
Shares of EWBC stock traded down $0.08 during trading on Friday, reaching $45.89. The company’s stock had a trading volume of 614,200 shares, compared to its average volume of 981,123. The business has a fifty day moving average price of $43.47 and a 200-day moving average price of $44.84. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 9.85, a price-to-earnings-growth ratio of 0.96 and a beta of 1.66. East West Bancorp has a one year low of $37.69 and a one year high of $56.09. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.18.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, October 31st. East West Bancorp’s dividend payout ratio is presently 23.61%.
Several equities analysts recently issued reports on the stock. Raymond James downgraded shares of East West Bancorp from a “market perform” rating to an “underperform” rating in a report on Tuesday, October 8th. ValuEngine cut shares of East West Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Zacks Investment Research upgraded shares of East West Bancorp from a “sell” rating to a “hold” rating and set a $45.00 price target for the company in a research report on Friday, October 4th. Morgan Stanley lowered their price target on shares of East West Bancorp from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Finally, BMO Capital Markets cut shares of East West Bancorp from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $51.00 to $44.00 in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $53.43.
In related news, CEO Dominic Ng acquired 25,840 shares of East West Bancorp stock in a transaction dated Thursday, August 29th. The stock was bought at an average price of $38.71 per share, with a total value of $1,000,266.40. Following the transaction, the chief executive officer now directly owns 538,250 shares in the company, valued at approximately $20,835,657.50. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Catherine Zhou acquired 2,512 shares of East West Bancorp stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $39.82 per share, with a total value of $100,027.84. Following the transaction, the executive vice president now owns 2,512 shares in the company, valued at $100,027.84. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 38,052 shares of company stock valued at $1,478,330. 0.61% of the stock is owned by company insiders.
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 and Greater China. It operates in three segments: Consumer and Business Banking, Commercial Banking, and Other.
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