Q2 2020 EPS Estimates for East West Bancorp, Inc. Decreased by SunTrust Banks (NASDAQ:EWBC)

East West Bancorp, Inc. (NASDAQ:EWBC) – Investment analysts at SunTrust Banks cut their Q2 2020 earnings per share estimates for East West Bancorp in a research report issued on Tuesday, June 30th. SunTrust Banks analyst M. Young now expects that the financial services provider will post earnings of $0.79 per share for the quarter, down from their previous estimate of $0.81. SunTrust Banks also issued estimates for East West Bancorp’s Q2 2021 earnings at $0.82 EPS and Q3 2021 earnings at $0.93 EPS.

East West Bancorp (NASDAQ:EWBC) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. East West Bancorp had a net margin of 31.34% and a return on equity of 14.00%. The firm had revenue of $416.76 million during the quarter, compared to the consensus estimate of $401.75 million. During the same period in the prior year, the firm earned $1.16 EPS.

Other analysts also recently issued reports about the stock. Compass Point assumed coverage on shares of East West Bancorp in a report on Tuesday, April 14th. They issued a “neutral” rating for the company. Keefe, Bruyette & Woods downgraded shares of East West Bancorp from an “outperform” rating to a “market perform” rating and set a $34.00 price target for the company. in a report on Wednesday, April 1st. BidaskClub downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, June 18th. ValuEngine downgraded shares of East West Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, March 25th. Finally, DA Davidson increased their price objective on shares of East West Bancorp from $33.00 to $37.00 in a research note on Friday, June 19th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. East West Bancorp currently has a consensus rating of “Hold” and a consensus price target of $64.44.

Shares of East West Bancorp stock opened at $36.24 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.99 and a quick ratio of 0.99. East West Bancorp has a fifty-two week low of $22.55 and a fifty-two week high of $51.88. The firm has a fifty day moving average price of $36.04 and a two-hundred day moving average price of $38.88. The company has a market cap of $4.99 billion, a PE ratio of 7.52, a price-to-earnings-growth ratio of 0.97 and a beta of 2.00.

Several institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its position in shares of East West Bancorp by 5.2% during the 1st quarter. Royal Bank of Canada now owns 448,789 shares of the financial services provider’s stock worth $11,551,000 after purchasing an additional 22,330 shares in the last quarter. New Mexico Educational Retirement Board increased its position in shares of East West Bancorp by 38.3% during the 1st quarter. New Mexico Educational Retirement Board now owns 34,693 shares of the financial services provider’s stock worth $893,000 after purchasing an additional 9,600 shares in the last quarter. Telemus Capital LLC acquired a new stake in shares of East West Bancorp during the 1st quarter worth about $293,000. Skandinaviska Enskilda Banken AB publ increased its position in shares of East West Bancorp by 14.6% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 11,159 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 1,422 shares in the last quarter. Finally, State of Tennessee Treasury Department increased its position in shares of East West Bancorp by 3.2% during the 1st quarter. State of Tennessee Treasury Department now owns 115,605 shares of the financial services provider’s stock worth $2,976,000 after purchasing an additional 3,616 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

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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