$416.27 Million in Sales Expected for East West Bancorp, Inc. (NASDAQ:EWBC) This Quarter

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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.

A number of equities research analysts have weighed in on EWBC shares. SunTrust Banks decreased their price objective on East West Bancorp from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Wells Fargo & Co decreased their price objective on East West Bancorp from $60.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Zacks Investment Research raised East West Bancorp from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a report on Friday, October 4th. ValuEngine raised East West Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Finally, BMO Capital Markets downgraded East West Bancorp from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $51.00 to $44.00 in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $53.43.

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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Earnings History and Estimates for East West Bancorp (NASDAQ:EWBC)

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