East West Bancorp (EWBC) reported quarterly earnings results on Wednesday, Jul-20-2016. The company said it had a profit of $0.71 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.69. Analysts expectations of $294.15 million. During the same quarter in the previous year, the company posted $0.68 EPS.
Many Wall Street Analysts have commented on East West Bancorp. East West Bancorp was Downgraded by Keefe Bruyette to ” Mkt Perform” on Apr 28, 2016. Company shares were Reiterated by Barclays on Apr 22, 2016 to “Overweight”, Firm has raised the Price Target to $ 44 from a previous price target of $42 .
East West Bancorp opened for trading at $35.79 and hit $36.14 on the upside on Monday, eventually ending the session at $36.01, with a gain of 0.31% or 0.11 points. The heightened volatility saw the trading volume jump to 8,05,560 shares. Company has a market cap of $5,189 M.
In a different news, on May 16, 2016, Wendy H Cai-lee (Executive Vice President) sold 1,200 shares at $36.37 per share price. According to the SEC, on Mar 2, 2016, Julia S Gouw (President) sold 44,629 shares at $30.53 per share price. On Dec 3, 2015, Douglas Paul Krause (Executive Vice President) sold 20,000 shares at $43.55 per share price, according to the Form-4 filing with the securities and exchange commission.
East West Bancorp Inc. (East West) is a bank holding company. East Wests principal business is to serve as a holding company for East West Bank (Bank) and other banking or banking-related subsidiaries. The Bank offers deposit products including the traditional range of personal and business checking and savings accounts time deposits and individual retirement accounts travelers checks safe deposit boxes and MasterCard and Visa merchant deposit services. The Banks lending activities include commercial and residential real estate construction trade finance and commercial business including accounts receivable small business administration (SBA) inventory and working capital loans. The Bank provides commercial business loans to small and medium-sized businesses. In addition the Bank is focused on providing financing to clients needing a financial bridge that facilitates their business transactions between Asia and the United States.