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East West Bancorp, Inc. (EWBC) Q4 2023 Earnings Call Transcript
The headline numbers for East West Bancorp (EWBC) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
East West Bancorp (EWBC) came out with quarterly earnings of $2.02 per share, beating the Zacks Consensus Estimate of $1.89 per share. This compares to earnings of $2.37 per share a year ago.
East West Bancorp (EWBC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
PASADENA, Calif.--(BUSINESS WIRE)--East West Bancorp, Inc. (“East West” or the “Company”) (Nasdaq: EWBC), announced plans to host conference calls to review financial results on the following dates: Financial Period Earnings Release Date Conference Call Time Fourth Quarter and Full Year 2023 Tuesday, January 23, 2024 2 p.m. PT/5 p.m. ET First Quarter 2024 Tuesday, April 23, 2024 2 p.m. PT/5 p.m. ET The financial results are scheduled to be released after the market closes on the dates noted abo.
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Decent loan demand, a strong balance sheet position and higher rates are likely to aid East West Bancorp's financials amid mounting expenses and poor asset quality.
East West Bancorp has shown resilience and profitability, with growing revenues and net income over the past 10 years. The bank's loan portfolio is relatively low risk, with a focus on variable rate loans and a low loan-to-value ratio. EWBC has a strong dividend history over the last 10 years and potential for future growth, with a sustainable payout ratio. Plus, there is the possibility of share buybacks.
The High Dividend Yield Vanguard ETF (NYSEARCA: VYM ) has surged by more than 6% month-over-month, suggesting that dividend stocks are regaining traction. Intuitively speaking, the resurgence does make sense as a pending interest rate pivot may initiate more confidence among dividend investors.
KBW analyst Chris McGratty said the bank sees potential upside for at least three regional bank stocks in a tough year for the sector.