East West Bancorp (NASDAQ:EWBC) posted its earnings results on Thursday. The financial services provider reported $1.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.18, MarketWatch Earnings reports. East West Bancorp had a return on equity of 12.15% and a net margin of 35.32%. The company had revenue of $444.90 million for the quarter, compared to analyst estimates of $430.71 million. During the same quarter last year, the company earned $0.70 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis.
Shares of NASDAQ EWBC traded up $2.79 during mid-day trading on Thursday, hitting $73.13. The company had a trading volume of 61,116 shares, compared to its average volume of 864,916. The firm has a market capitalization of $10.37 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 1.22 and a beta of 1.87. East West Bancorp has a 1 year low of $30.49 and a 1 year high of $82.53. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.92 and a quick ratio of 0.92. The business’s 50-day simple moving average is $72.60.
The business also recently declared a quarterly dividend, which was paid on Monday, May 17th. Stockholders of record on Monday, May 3rd were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Friday, April 30th. East West Bancorp’s dividend payout ratio (DPR) is presently 33.25%.
EWBC has been the topic of a number of recent analyst reports. Zacks Investment Research lowered East West Bancorp from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a report on Thursday, June 24th. DA Davidson upgraded East West Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $62.50 to $87.00 in a report on Tuesday, March 30th. Morgan Stanley lifted their price target on East West Bancorp from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, April 29th. Finally, Compass Point lifted their price target on East West Bancorp from $75.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, May 18th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. East West Bancorp presently has an average rating of “Buy” and a consensus price target of $75.71.
East West Bancorp Company Profile
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 and Greater China. It operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.
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