Overview
East West Bancorp Q2 revenue of $703 mln beats analyst expectations, per LSEG data
Adjusted EPS for Q2 beats estimates at $2.28, per LSEG data
Co achieved record levels in total loans and deposits
Result Drivers
LOAN AND DEPOSIT GROWTH - Co attributes record net interest income to $1 bln increase in average loans and deposits
CREDIT TRENDS - Criticized loans and nonperforming assets declined, contributing to resilient credit trends
CAPITAL STRENGTH - Tangible common equity ratio increased to 10%, supporting customer confidence and market opportunities
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$703 mln
$621.10 mln (9 Analysts)
Q2 Adjusted EPS
Beat
$2.28
$2.25 (13 Analysts)
Q2 EPS
$2.24
Q2 Net Income
$310 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for East West Bancorp Inc is $111.00, about 2.3% above its July 21 closing price of $108.40
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nBw7njh7sa
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)