East West Bancorp (EWBC) Receiving Somewhat Positive News Coverage, Report Shows
Headlines about East West Bancorp (NASDAQ:EWBC) have been trending somewhat positive on Sunday, according to Accern Sentiment Analysis. Accern identifies positive and negative media coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. East West Bancorp earned a news impact score of 0.04 on Accern’s scale. Accern also assigned media coverage about the financial services provider an impact score of 45.8569334098614 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the media headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Form 4 EAST WEST BANCORP INC For: Mar 07 Filed by: Oh Irene H (streetinsider.com)
- Does East West Bancorp Inc’s (NASDAQ:EWBC) 17.13% Earnings Growth Reflect The Long-Term Trend? (finance.yahoo.com)
- Zacks: Analysts Anticipate East West Bancorp, Inc. (EWBC) Will Post Quarterly Sales of $364.81 Million (americanbankingnews.com)
- East West Bancorp, Inc. (EWBC) Receives Average Rating of “Hold” from Analysts (americanbankingnews.com)
- Analysts Expect East West Bancorp, Inc. (EWBC) Will Post Earnings of $1.00 Per Share (americanbankingnews.com)
A number of equities analysts recently commented on the company. Zacks Investment Research upgraded East West Bancorp from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, January 8th. BidaskClub lowered East West Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Sandler O’Neill restated a “buy” rating and issued a $76.00 target price on shares of East West Bancorp in a research note on Friday, January 26th. ValuEngine upgraded East West Bancorp from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Morgan Stanley lifted their price objective on East West Bancorp from $69.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $69.50.
East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.04). The business had revenue of $365.06 million for the quarter, compared to analysts’ expectations of $359.43 million. East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 earnings per share. analysts anticipate that East West Bancorp will post 4.4 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were issued a $0.20 dividend. The ex-dividend date was Friday, February 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.17%. East West Bancorp’s payout ratio is 23.12%.
In other East West Bancorp news, Director Iris S. Chan sold 2,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $66.69, for a total value of $133,380.00. Following the sale, the director now directly owns 20,301 shares of the company’s stock, valued at approximately $1,353,873.69. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Douglas Paul Krause sold 5,000 shares of the stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $61.26, for a total transaction of $306,300.00. Following the completion of the transaction, the insider now directly owns 18,015 shares in the company, valued at $1,103,598.90. The disclosure for this sale can be found here. Insiders have sold 9,000 shares of company stock valued at $576,680 in the last three months. Corporate insiders own 0.88% of the company’s stock.
East West Bancorp Company Profile
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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