East West Bancorp, Inc. to Post Q3 2019 Earnings of $1.27 Per Share, Wedbush Forecasts (NASDAQ:EWBC)

East West Bancorp, Inc. (NASDAQ:EWBC) – Research analysts at Wedbush lifted their Q3 2019 earnings per share (EPS) estimates for East West Bancorp in a report released on Monday, June 3rd, according to Zacks Investment Research. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will earn $1.27 per share for the quarter, up from their previous estimate of $1.26. Wedbush has a “Outperform” rating and a $50.00 price target on the stock. Wedbush also issued estimates for East West Bancorp’s Q4 2019 earnings at $1.24 EPS, FY2019 earnings at $4.85 EPS and FY2020 earnings at $5.20 EPS.

Other research analysts have also recently issued reports about the company. Zacks Investment Research upgraded East West Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. BidaskClub raised East West Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, ValuEngine raised East West Bancorp from a “strong sell” rating to a “sell” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $61.88.

Shares of EWBC traded up $0.87 during trading hours on Wednesday, reaching $46.77. The stock had a trading volume of 1,904,560 shares, compared to its average volume of 1,136,119. East West Bancorp has a 12 month low of $40.05 and a 12 month high of $68.09. The company has a market cap of $6.68 billion, a PE ratio of 10.04, a PEG ratio of 0.99 and a beta of 1.63. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50-day moving average price of $45.45.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.16 EPS for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.06). East West Bancorp had a net margin of 35.42% and a return on equity of 15.78%. The firm had revenue of $404.59 million during the quarter, compared to the consensus estimate of $411.11 million. During the same quarter in the previous year, the company posted $1.13 earnings per share.

A number of large investors have recently made changes to their positions in the stock. Millennium Management LLC grew its holdings in East West Bancorp by 78.8% during the 4th quarter. Millennium Management LLC now owns 1,256,633 shares of the financial services provider’s stock worth $54,701,000 after acquiring an additional 553,961 shares during the period. Macquarie Group Ltd. grew its holdings in East West Bancorp by 3.4% during the 4th quarter. Macquarie Group Ltd. now owns 3,584,601 shares of the financial services provider’s stock worth $156,037,000 after acquiring an additional 119,282 shares during the period. Toronto Dominion Bank grew its holdings in East West Bancorp by 30.4% during the 1st quarter. Toronto Dominion Bank now owns 27,639 shares of the financial services provider’s stock worth $1,326,000 after acquiring an additional 6,437 shares during the period. BOKF NA grew its holdings in East West Bancorp by 5.8% during the 4th quarter. BOKF NA now owns 29,249 shares of the financial services provider’s stock worth $1,273,000 after acquiring an additional 1,607 shares during the period. Finally, Dupont Capital Management Corp grew its holdings in East West Bancorp by 89.1% during the 4th quarter. Dupont Capital Management Corp now owns 39,777 shares of the financial services provider’s stock worth $1,731,000 after acquiring an additional 18,745 shares during the period. 88.86% of the stock is owned by institutional investors and hedge funds.

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 in three segments: Consumer and Business Banking, Commercial Banking, and Other.

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Earnings History and Estimates for East West Bancorp (NASDAQ:EWBC)

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