East West Bancorp (NASDAQ:EWBC – Get Free Report) posted its quarterly earnings data on Tuesday. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.10, Briefing.com reports. East West Bancorp had a return on equity of 16.85% and a net margin of 25.40%. The firm had revenue of $638.00 million for the quarter, compared to the consensus estimate of $631.61 million. During the same quarter in the prior year, the business earned $2.20 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year.
East West Bancorp Stock Performance
EWBC stock traded up $3.04 during mid-day trading on Thursday, hitting $87.45. 278,186 shares of the company were exchanged, compared to its average volume of 1,040,230. East West Bancorp has a 1-year low of $49.59 and a 1-year high of $87.75. The business has a 50 day simple moving average of $74.12 and a 200-day simple moving average of $74.12. The stock has a market capitalization of $12.17 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 5.04 and a beta of 1.32. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50.
East West Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 2nd will be given a dividend of $0.55 per share. The ex-dividend date is Friday, August 2nd. This represents a $2.20 annualized dividend and a yield of 2.52%. East West Bancorp’s dividend payout ratio (DPR) is presently 27.71%.
Insider Transactions at East West Bancorp
Analyst Ratings Changes
Several research analysts have issued reports on EWBC shares. Stephens upped their price objective on East West Bancorp from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday. DA Davidson increased their price target on East West Bancorp from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday. Wedbush increased their price target on East West Bancorp from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays lowered their price objective on shares of East West Bancorp from $106.00 to $105.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Finally, Piper Sandler upped their price objective 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. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.60.
View Our Latest Stock Analysis on East West Bancorp
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.
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