East West Bancorp (EWBC) announced its most recent quarterly financial results on Wednesday, Oct-19-2016. EWBC said it had a profit of $0.76 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.69. The company posted revenue of $303.40 million in the period, compared to analysts expectations of $294.65 million. EWBC’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.
Many Wall Street Analysts have commented on East West Bancorp. East West Bancorp was Upgraded by Macquarie to ” Outperform” on Jul 22, 2016.
East West Bancorp opened for trading at $38.72 and hit $38.95 on the upside on Friday, eventually ending the session at $38.56, with a gain of 1.18% or 0.45 points. The heightened volatility saw the trading volume jump to 8,16,498 shares. Company has a market cap of $5,557 M.
In a different news, on Sep 6, 2016, Jack C Liu (director) sold 2,101 shares at $37.35 per share price. According to the SEC, on May 16, 2016, Wendy H Cai-lee (Executive Vice President) sold 1,200 shares at $36.37 per share price. On Mar 2, 2016, Julia S Gouw (President) sold 44,629 shares at $30.53 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.