East West Bancorp (NASDAQ:EWBC – Get Free Report) issued its quarterly earnings data on Tuesday. The financial services provider reported $2.09 EPS for the quarter, beating the consensus estimate of $2.06 by $0.03, Yahoo Finance reports. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $641.80 million. East West Bancorp had a return on equity of 16.64% and a net margin of 25.40%. During the same period last year, the company earned $2.02 earnings per share.
East West Bancorp Trading Up 1.6 %
NASDAQ:EWBC traded up $1.56 on Thursday, hitting $97.19. The stock had a trading volume of 956,369 shares, compared to its average volume of 932,472. The company has a fifty day moving average price of $83.66 and a two-hundred day moving average price of $78.49. East West Bancorp has a 1-year low of $51.40 and a 1-year high of $98.95. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a market cap of $13.52 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 2.08 and a beta of 1.29.
East West Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Monday, November 4th. East West Bancorp’s dividend payout ratio (DPR) is presently 27.71%.
Insider Transactions at East West Bancorp
Wall Street Analysts Forecast Growth
EWBC has been the subject of several recent analyst reports. Morgan Stanley boosted their price target on shares of East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Truist Financial boosted their target price on shares of East West Bancorp from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday. Wedbush raised their price target on shares of East West Bancorp from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday. Stephens boosted their price objective on East West Bancorp from $91.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Compass Point raised their target price on East West Bancorp from $93.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.46.
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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