East West Bancorp (EWBC) Expected to Announce Earnings on Thursday

East West Bancorp (NASDAQ:EWBC) will likely be posting its quarterly earnings results after the market closes on Thursday, January 23rd. Analysts expect East West Bancorp to post earnings of $2.12 per share and revenue of $659,000.52 billion for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. East West Bancorp had a net margin of 24.96% and a return on equity of 16.07%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $641.80 million. During the same period in the prior year, the company posted $2.02 earnings per share. On average, analysts expect East West Bancorp to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

East West Bancorp Trading Up 2.9 %

EWBC opened at $103.71 on Wednesday. The company’s 50 day moving average is $101.39 and its 200-day moving average is $90.42. East West Bancorp has a 1-year low of $67.27 and a 1-year high of $113.95. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market cap of $14.38 billion, a P/E ratio of 13.09, a PEG ratio of 2.80 and a beta of 1.30.

Insiders Place Their Bets

In other news, insider Irene H. Oh sold 10,000 shares of East West Bancorp stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $98.50, for a total value of $985,000.00. Following the completion of the sale, the insider now owns 117,193 shares in the company, valued at $11,543,510.50. The trade was a 7.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Douglas Paul Krause sold 12,000 shares of East West Bancorp stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $106.61, for a total transaction of $1,279,320.00. Following the completion of the sale, the insider now owns 45,403 shares of the company’s stock, valued at $4,840,413.83. This represents a 20.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,969 shares of company stock worth $2,458,276. 1.04% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Citigroup raised their price target on shares of East West Bancorp from $103.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Truist Financial raised their price target on shares of East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. DA Davidson raised their price target on shares of East West Bancorp from $100.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. UBS Group assumed coverage on shares of East West Bancorp in a report on Tuesday, December 17th. They issued a “neutral” rating and a $112.00 price objective for the company. Finally, Barclays raised their price objective on shares of East West Bancorp from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, East West Bancorp has an average rating of “Moderate Buy” and an average target price of $109.77.

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.