East West Bancorp, Inc. (NASDAQ:EWBC) is reporting third quarter financial results on Thursday 22nd October 2020, before market open.
According to analysts surveyed by Thomson Reuters, EWBC is expected to report 3Q20 income of $ 0.95 per share from revenue of $ 349.08 million.
For the full year, analysts anticipate top line of $ 1409.24 million, while looking forward to income of $ 3.60 per share bottom line.
Previous Quarter Performance
East West Bancorp, Inc. communicated income for the second quarter of $ 0.70 per share, from the revenue of $ 343.77 million. The quarterly earnings contracted 32.04 percent while revenues decreased 7.95 percent compared with the same quarter last year.
Street analysts expected East West Bancorp, Inc. to report income of $ 0.76 per share on revenue of $ 343.97 million for the second quarter. The bottom line results missed street analysts by $ 0.06 or 7.89 percent, at the same time, top line results fell short of analysts by $ 0.2 million or 0.06 percent.
Stock Performance
Shares of East West Bancorp, Inc. traded up $ 1.05 or 2.79 percent on Wednesday, reaching $ 38.66 with volume of 752.00 thousand shares. The stock opened down for the day at $ 37.48, after closing the previous day trading at $ 37.61.
According to the previous trading day, closing price of $ 37.61, representing a 66.78 % increase from the 52 week low of $ 22.55 and a 27.51 % decrease over the 52 week high of $ 51.88.
The company has a market capital of $ 5.47 billion and is part of the Financial Services sector and Banks – Global industry.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.275 per share on July 23, 2020. The dividend were payable on August 17, 2020 to holders of record as of the close of business on August 4, 2020 and ex-dividend date on August 3, 2020.
Conference Call
East West Bancorp, Inc. will be hosting a conference call at 11:30 AM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.eastwestbank.com
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.
