DA Davidson Weighs in on East West Bancorp, Inc.’s Q2 2024 Earnings (NASDAQ:EWBC)

East West Bancorp, Inc. (NASDAQ:EWBC) – Equities research analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of East West Bancorp in a research note issued on Thursday, April 25th. DA Davidson analyst G. Tenner expects that the financial services provider will earn $1.98 per share for the quarter. The consensus estimate for East West Bancorp’s current full-year earnings is $7.92 per share. DA Davidson also issued estimates for East West Bancorp’s FY2024 earnings at $8.09 EPS and FY2025 earnings at $8.22 EPS.

Other research analysts have also issued reports about the stock. Compass Point upped their target price on shares of East West Bancorp from $83.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Truist Financial reduced their target price on shares of East West Bancorp from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday. Jefferies Financial Group upped their target price on shares of East West Bancorp from $86.00 to $88.00 and gave the company a “buy” rating in a report on Monday, April 8th. Citigroup upped their target price on shares of East West Bancorp from $85.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Finally, Stephens upped their target price on shares of East West Bancorp from $85.00 to $86.00 and gave the company an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.08.

East West Bancorp Price Performance

Shares of NASDAQ EWBC opened at $76.36 on Friday. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 0.97 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’s 50-day moving average price is $74.76 and its 200 day moving average price is $68.40. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.50.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. The firm had revenue of $644.13 million for the quarter, compared to analysts’ expectations of $636.77 million. East West Bancorp had a net margin of 26.78% and a return on equity of 17.43%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.32 EPS.

East West Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Thursday, May 2nd. East West Bancorp’s dividend payout ratio (DPR) is presently 27.71%.

Insider Buying and Selling

In other East West Bancorp news, Director Molly Campbell sold 1,625 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the sale, the director now owns 10,321 shares of the company’s stock, valued at $797,400.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jack C. Liu sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.58, for a total transaction of $147,160.00. Following the completion of the sale, the director now owns 16,739 shares of the company’s stock, valued at $1,231,655.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Molly Campbell sold 1,625 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $77.26, for a total value of $125,547.50. Following the transaction, the director now owns 10,321 shares in the company, valued at $797,400.46. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On East West Bancorp

Several large investors have recently added to or reduced their stakes in EWBC. CWM LLC lifted its stake in East West Bancorp by 22.8% during the third quarter. CWM LLC now owns 1,825 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 339 shares during the last quarter. Palouse Capital Management Inc. lifted its stake in East West Bancorp by 21.2% during the third quarter. Palouse Capital Management Inc. now owns 27,422 shares of the financial services provider’s stock worth $1,445,000 after purchasing an additional 4,795 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in East West Bancorp by 17.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,042 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 759 shares during the last quarter. JB Capital LLC bought a new stake in East West Bancorp in the third quarter valued at $765,000. Finally, Keeler THomas Management LLC lifted its stake in East West Bancorp by 5.9% in the third quarter. Keeler THomas Management LLC now owns 74,362 shares of the financial services provider’s stock valued at $3,977,000 after buying an additional 4,162 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors.

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.