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, beating the consensus estimate of $1.97 by $0.10, Briefing.com reports. The firm had revenue of $638.00 million for the quarter, compared to the consensus estimate of $631.61 million. East West Bancorp had a return on equity of 16.85% and a net margin of 25.40%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 EPS.
East West Bancorp Stock Performance
Shares of East West Bancorp stock traded up $2.06 on Thursday, hitting $86.47. The stock had a trading volume of 409,364 shares, compared to its average volume of 1,041,154. East West Bancorp has a 52-week low of $49.59 and a 52-week high of $87.75. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. The stock has a market cap of $12.03 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of 5.04 and a beta of 1.32. The company’s 50 day moving average price is $74.12 and its 200 day moving average price is $74.12.
East West Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 2nd will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Friday, August 2nd. East West Bancorp’s payout ratio is currently 27.71%.
Insider Activity
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on EWBC shares. Stephens boosted their price objective on East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday. Wedbush boosted their target price on East West Bancorp from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays lowered their target price on East West Bancorp from $106.00 to $105.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. StockNews.com raised East West Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company boosted their target price on East West Bancorp from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.60.
Read Our Latest Report on EWBC
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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