Analysts expect that East West Bancorp, Inc. (NASDAQ:EWBC) will report $416.27 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for East West Bancorp’s earnings. The lowest sales estimate is $408.00 million and the highest is $429.65 million. East West Bancorp reported sales of $411.11 million during the same quarter last year, which indicates a positive year over year growth rate of 1.3%. The company is expected to issue its next quarterly earnings report on Thursday, January 23rd.
On average, analysts expect that East West Bancorp will report full-year sales of $1.66 billion for the current fiscal year, with estimates ranging from $1.65 billion to $1.68 billion. For the next year, analysts anticipate that the company will report sales of $1.68 billion, with estimates ranging from $1.62 billion to $1.79 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for East West Bancorp.
East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.03). The company had revenue of $421.28 million for the quarter, compared to analyst estimates of $418.32 million. East West Bancorp had a net margin of 31.98% and a return on equity of 14.90%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 earnings per share.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of East West Bancorp by 1.4% in the 2nd quarter. BlackRock Inc. now owns 15,854,861 shares of the financial services provider’s stock worth $741,532,000 after acquiring an additional 223,815 shares in the last quarter. Boston Partners raised its position in East West Bancorp by 3.6% in the 3rd quarter. Boston Partners now owns 5,170,745 shares of the financial services provider’s stock worth $229,015,000 after purchasing an additional 179,203 shares during the last quarter. JPMorgan Chase & Co. raised its position in East West Bancorp by 2.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,020,309 shares of the financial services provider’s stock worth $230,431,000 after purchasing an additional 96,929 shares during the last quarter. Macquarie Group Ltd. raised its position in East West Bancorp by 7.2% in the 2nd quarter. Macquarie Group Ltd. now owns 3,897,780 shares of the financial services provider’s stock worth $182,298,000 after purchasing an additional 263,000 shares during the last quarter. Finally, Invesco Ltd. raised its position in East West Bancorp by 1,062.0% in the 2nd quarter. Invesco Ltd. now owns 2,218,803 shares of the financial services provider’s stock worth $103,773,000 after purchasing an additional 2,027,851 shares during the last quarter. 87.76% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ EWBC traded down $0.01 during trading on Thursday, reaching $46.18. 583,241 shares of the company traded hands, compared to its average volume of 968,617. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50 day moving average price is $44.96 and its two-hundred day moving average price is $44.16. The company has a market cap of $6.72 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 0.98 and a beta of 1.68. East West Bancorp has a 1-year low of $37.69 and a 1-year high of $56.09.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Thursday, October 31st. East West Bancorp’s payout ratio is currently 23.61%.
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.
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