Trade Report: Today: East West Bancorp Inc. (EWBC) to Release Earnings on Wednesday

Today: East West Bancorp Inc. (EWBC) to Release Earnings on Wednesday

East West Bancorp Inc. (NASDAQ:EWBC) is set to announce its Q316 earnings results on Wednesday, October 19th. Analysts expect the company to announce earnings of $0.70 per share and revenue of $258.29 million for the quarter.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. East West Bancorp had a net margin of 31.15% and a return on equity of 12.49%. During the same quarter last year, the business posted $0.68 earnings per share. On average, analysts expect East West Bancorp to post $2.85 EPS for the current fiscal year and $2.94 EPS for the next fiscal year.

Shares of East West Bancorp Inc. (NASDAQ:EWBC) opened at 38.56 on Monday. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 14.12 and a beta of 1.55. East West Bancorp Inc. has a one year low of $27.25 and a one year high of $43.94. The company’s 50-day moving average is $36.98 and its 200-day moving average is $35.78.

EWBC has been the subject of several research analyst reports. BMO Capital Markets reaffirmed a “buy” rating and set a $41.00 target price on shares of East West Bancorp in a research note on Friday, July 22nd. Deutsche Bank AG increased their target price on shares of East West Bancorp from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, October 11th. Zacks Investment Research raised shares of East West Bancorp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 23rd. Macquarie raised shares of East West Bancorp from a “neutral” rating to an “outperform” rating in a research note on Friday, July 22nd. Finally, Barclays PLC increased their target price on shares of East West Bancorp from $41.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 11th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. East West Bancorp presently has a consensus rating of “Buy” and a consensus target price of $43.43.

In related news, Director Rudolph Estrada sold 2,888 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $34.62, for a total value of $99,982.56. Following the sale, the director now owns 15,261 shares of the company’s stock, valued at $528,335.82. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack C. Liu sold 2,101 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $37.35, for a total transaction of $78,472.35. Following the completion of the sale, the director now directly owns 29,006 shares in the company, valued at approximately $1,083,374.10. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of EWBC. Credit Suisse AG boosted its stake in shares of East West Bancorp by 115.9% in the second quarter. Credit Suisse AG now owns 269,355 shares of the financial services provider’s stock valued at $9,205,000 after buying an additional 144,574 shares during the period. Cipher Capital LP boosted its stake in shares of East West Bancorp by 11.2% in the second quarter. Cipher Capital LP now owns 67,242 shares of the financial services provider’s stock valued at $2,298,000 after buying an additional 6,799 shares during the period. BlueMountain Capital Management LLC boosted its stake in shares of East West Bancorp by 18.0% in the second quarter. BlueMountain Capital Management LLC now owns 61,284 shares of the financial services provider’s stock valued at $2,095,000 after buying an additional 9,361 shares during the period. Comerica Bank boosted its stake in shares of East West Bancorp by 7.2% in the second quarter. Comerica Bank now owns 104,808 shares of the financial services provider’s stock valued at $3,686,000 after buying an additional 7,066 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of East West Bancorp during the second quarter valued at $417,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

East West Bancorp Company Profile

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