East West Bancorp (EWBC) Earning Somewhat Favorable News Coverage, Analysis Finds
Media headlines about East West Bancorp (NASDAQ:EWBC) have been trending somewhat positive on Friday, Accern Sentiment Analysis reports. The research group rates the sentiment of news coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. East West Bancorp earned a news sentiment score of 0.22 on Accern’s scale. Accern also gave press coverage about the financial services provider an impact score of 46.3004362899093 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
These are some of the media headlines that may have effected Accern Sentiment’s scoring:
- Desert Community Bank changes hands (vvdailypress.com)
- East-West Bancorp (EWBC) to Sell Desert Community Bank Branches to Flagstar Bank (FBC) (streetinsider.com)
- EAST WEST BANCORP, INC. (NASDAQ:EWBC) Files An 8-K Other Events (4-traders.com)
- East West Bancorp Completes Successful SS&C Implementation for CECL Transition (finance.yahoo.com)
- East West Bancorp's Subsidiary to Sell Branches to Flagstar (finance.yahoo.com)
A number of equities analysts have recently weighed in on the company. Zacks Investment Research cut East West Bancorp from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub cut East West Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $57.00 price target on shares of East West Bancorp in a report on Tuesday, September 26th. Morgan Stanley reissued an “equal weight” rating and issued a $63.00 price target (up from $61.00) on shares of East West Bancorp in a report on Wednesday, October 4th. Finally, Raymond James Financial, Inc. raised East West Bancorp from an “underperform” rating to a “market perform” rating in a report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $64.60.
Shares of East West Bancorp (EWBC) traded down $0.18 during trading hours on Friday, hitting $57.22. The stock had a trading volume of 712,600 shares, compared to its average volume of 933,991. The stock has a market capitalization of $8,296.76, a P/E ratio of 17.19, a P/E/G ratio of 1.56 and a beta of 1.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.99 and a current ratio of 0.99. East West Bancorp has a twelve month low of $45.52 and a twelve month high of $61.90.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.03. The business had revenue of $348.97 million during the quarter, compared to the consensus estimate of $349.28 million. East West Bancorp had a return on equity of 13.51% and a net margin of 34.75%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 earnings per share. research analysts forecast that East West Bancorp will post 3.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Tuesday, October 31st. East West Bancorp’s dividend payout ratio (DPR) is presently 21.98%.
In other East West Bancorp news, Director Rudolph Estrada sold 1,916 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $55.97, for a total transaction of $107,238.52. Following the completion of the sale, the director now owns 15,475 shares of the company’s stock, valued at $866,135.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Herman Y. Li sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $61.00, for a total value of $610,000.00. Following the sale, the director now directly owns 40,130 shares of the company’s stock, valued at approximately $2,447,930. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.
About East West Bancorp
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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