East West Bancorp Inc reports results for the quarter ended in June - Earnings Summary

East West Bancorp

23/07/2024 22:20

* East West Bancorp Inc  EWBC.OQ  reported quarterly
adjusted
earnings of $2.07​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of $2.20.  The mean expectation of sixteen analysts for the
quarter was for earnings of $1.97 per share. Wall Street
expected results to range from $1.88  to $2.02 per share.
    * Revenue fell 2.4% to $553.23 million from a year ago;
analysts
expected $554.96 million. 
    * East West Bancorp Inc's reported EPS for the quarter was
$2.06​.
    * The company reported quarterly net income of $288.23
million.
    * East West Bancorp Inc shares had risen by 11.9% this
quarter and
gained 13.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.6%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 15 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for East West Bancorp
Inc is $86.00 
This summary was machine generated from LSEG data July 23 at
09:20 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      1.97           2.07           Beat
 Mar. 31 2024      2.00           2.08           Beat
 Dec. 31 2023      1.89           2.04           Beat
 Sep. 30 2023      2.02           2.02           Met