East West Bancorp (NASDAQ:EWBC – Get Free Report) posted its earnings results on Tuesday. The financial services provider reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.08, RTT News reports. The business had revenue of $644.13 million for the quarter, compared to analyst estimates of $636.77 million. East West Bancorp had a return on equity of 18.47% and a net margin of 29.11%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.32 EPS.
East West Bancorp Stock Performance
Shares of EWBC traded up $1.38 during mid-day trading on Wednesday, hitting $76.68. The stock had a trading volume of 846,109 shares, compared to its average volume of 1,209,215. The firm has a market cap of $10.67 billion, a P/E ratio of 9.41, a PEG ratio of 0.95 and a beta of 1.39. East West Bancorp has a 52 week low of $41.12 and a 52 week high of $79.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.91 and a quick ratio of 0.91. The business has a fifty day moving average price of $74.58 and a 200-day moving average price of $68.28.
East West Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.87%. East West Bancorp’s dividend payout ratio (DPR) is currently 26.89%.
Insider Buying and Selling
Wall Street Analyst Weigh In
EWBC has been the topic of several analyst reports. Truist Financial increased their target price on East West Bancorp from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Keefe, Bruyette & Woods upped their price objective on East West Bancorp from $82.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday. Morgan Stanley upped their price objective on East West Bancorp from $76.00 to $89.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Stephens upped their price objective on East West Bancorp from $85.00 to $86.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Compass Point increased their target price on East West Bancorp from $83.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, East West Bancorp has a consensus rating of “Moderate Buy” and an average target price of $84.38.
Get Our Latest Analysis on EWBC
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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