East West Bancorp (EWBC) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

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East West Bancorp (NASDAQ:EWBC) released its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.03, MarketWatch Earnings reports. The business had revenue of $395.22 million for the quarter, compared to the consensus estimate of $398.25 million. East West Bancorp had a net margin of 34.80% and a return on equity of 15.70%. During the same period in the prior year, the company posted $0.91 earnings per share.

EWBC traded down $0.89 during midday trading on Friday, hitting $54.00. The stock had a trading volume of 747,766 shares, compared to its average volume of 1,166,539. The firm has a market cap of $7.94 billion, a P/E ratio of 15.61, a P/E/G ratio of 1.13 and a beta of 1.37. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.01 and a quick ratio of 1.01. East West Bancorp has a 1 year low of $50.34 and a 1 year high of $73.98.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Wednesday, October 31st. East West Bancorp’s payout ratio is 26.59%.

A number of brokerages recently issued reports on EWBC. Barclays dropped their price objective on shares of East West Bancorp from $78.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, July 20th. BidaskClub raised shares of East West Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 19th. Zacks Investment Research downgraded shares of East West Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. Morgan Stanley raised their price objective on East West Bancorp from $74.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 24th. Finally, Keefe, Bruyette & Woods upgraded East West Bancorp from a “market perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a research note on Friday, July 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $71.67.

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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 small and medium-sized businesses, business executives, professionals, and other individuals in the United States and Greater China. It operates through three segments: Retail Banking, Commercial Banking, and Other.

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Earnings History for East West Bancorp (NASDAQ:EWBC)

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