East West Bancorp (NASDAQ:EWBC) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

East West Bancorp (NASDAQ:EWBC) posted its quarterly earnings results on Tuesday. The financial services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03, Yahoo Finance reports. East West Bancorp had a net margin of 25.40% and a return on equity of 16.64%. The business 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 business posted $2.02 earnings per share.

East West Bancorp Stock Performance

Shares of NASDAQ EWBC opened at $90.38 on Wednesday. East West Bancorp has a 12 month low of $51.33 and a 12 month high of $93.30. The company has a market cap of $12.58 billion, a P/E ratio of 11.38, a P/E/G ratio of 2.08 and a beta of 1.29. The business’s 50 day moving average is $82.97 and its two-hundred day moving average is $78.23. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EWBC shares. Stephens lifted their price target on East West Bancorp from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Morgan Stanley boosted their target price on shares of East West Bancorp from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. DA Davidson raised their price target on shares of East West Bancorp from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Piper Sandler upped their price objective on shares of East West Bancorp from $72.50 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Truist Financial cut their target price on East West Bancorp from $96.00 to $93.00 and set a “buy” rating on the stock in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.92.

Insider Activity

In related news, EVP Lisa L. Kim sold 6,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $78.68, for a total transaction of $472,080.00. Following the transaction, the executive vice president now owns 18,891 shares of the company’s stock, valued at approximately $1,486,343.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Rudolph Estrada sold 1,896 shares of East West Bancorp stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.77, for a total transaction of $166,411.92. Following the sale, the director now directly owns 18,470 shares in the company, valued at approximately $1,621,111.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa L. Kim sold 6,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $78.68, for a total transaction of $472,080.00. Following the completion of the transaction, the executive vice president now directly owns 18,891 shares of the company’s stock, valued at $1,486,343.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,346 shares of company stock valued at $1,108,160. 1.04% of the stock is owned by company insiders.

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. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.